Images of the City of Dubai and Its Huge Growth Rate

Dubai can either refer to one of the seven emirates in the United Arab Emirates (UAE), or that emirate's main city, sometimes called "Dubai city" to distinguish it from the emirate.

The modern emirate of Dubai was created consequent with the formation of the United Arab Emirates in 1971. However, written accounts documenting the existence of the city have existed at least 150 years prior to the formation of the UAE. Dubai shares legal, political, military and economic functions with the other emirates within a federal framework, although each emirate has jurisdiction over some functions such as civic law enforcement and provision and upkeep of local facilities. Dubai has the largest population and is the second largest emirate by area, after Abu Dhabi. Dubai and Abu Dhabi are the only two emirates to possess veto power over critical matters of national importance in the country's legislature. Dubai has been ruled by the Al Maktoum dynasty since 1833. The emirates' current ruler, Mohammed bin Rashid Al Maktoum, is also the Prime Minister and Vice President of the UAE.

A majority of the emirate's revenues are from trade, manufacturing and financial services. Revenues from petroleum and natural gas contribute less than 6% (2006) of Dubai's US$ 37 billion economy (2005). Dubai has attracted world-wide attention through innovative real estate projects and sports events. This increased attention, coinciding with its emergence as a world business hub, has also highlighted human rights issues concerning its largely foreign workforce.

The economy of Dubai Emirate, which is considered the trade and tourism center for the Gulf region, has achieved a standard growth estimated at a rate of 16.7% in the year 2004.

Dubai's population in 2005, recorded at 1.1 million, could reach 4 million by 2017. The population of the emirate has grown at an average annual rate of 6.4 per cent while the number of cars on the road by 10 per cent each year, as opposed to an international average of 2 to 3 percent.

If Dubai hasn't already topped everyone with their amazing projects, they just upped the ante. They have recently announced plans for a 'shapeshifting' skyscraper!

The 80-story Dynamic Tower, described as the "world's first building in motion," will also be the first skyscraper constructed from prefabricated units, according to David Fisher's Dynamic Group, which is a New York-based architect.

Each floor would be capable of rotating independently, powered by wind turbines fitted between each floor.

It's also not cheap to rent space there. Apartments will sell for around $3,000 per square foot, making each unit range in price from about $4 million to $40 million.

Work on the tower is due to be completed by 2010, according to Dynamic's Web site.

Yes, Dubai is home to a gigantic indoor ski center. It fact, it's the largest indoor snow skiing resort in the world!









Ski Dubai has 5 runs that vary in difficulty, height and gradient, the longest run being 400 meters with a fall of over 60 meters. It boasts 3000 square meters of snow!

The Wall Street Journal reports that international "financial analysts are starting to wonder about the amount of debt the city-state is racking up." The article paints a picture of a city with dwindling oil revenues but a limitless appetite for growth. It places Dubai's debt, relative to gross domestic product, at about 42%. That's pretty high compared to Abu Dhabi's debt of 2.9% of GDP.

Duabi's debt load is four times the average among other Persian Gulf states. Credit-rating companies are asking for more information to determine how sound the government really is.

In the end, if Dubai gets into financial trouble it would take its neighbours with it. Or perhaps they're counting on a regional bailout.

Some are concerned that Dubai is doing what many in the U.S. did - overleveraging and spending too much with borrowed money, writes Chip Cummins in today's Wall Street Journal. "Its oil production is dwindling, and its debt load is four times the average among other Persian Gulf states," he writes. "Credit-rating companies are asking for more information to determine how sound the government really is."

Although the government of the UAE is taking a lot of risks, they may have a lot of foresight, being that the main revenue in the region is oil. They are hoping to be grow with other industries, such as banking and tourism. They may be at the forefront of this type of growth in the region.

As appealing as the job opportunities sound to many prospective workers, there are many challenges that are leaving many current and former workers feeling cheated and wronged. Far from the glitzy skyscrapers, high-priced tourist attractions, and modern streets, the workers live in a sprawling world of cramped labor camps. In fact, there is a dark side to the economic boom, including millions of poorly paid construction workers, and illegal yet widespread prostitution.

According to a Seattle Times article, "surviving in squalid conditions and barely making ends meet on less than $200 a month" is proving to not be worth it. Many families and loved ones back in their native countries are begging the worker to return home.

Often, much of the price of rapid growth falls on poorly paid workers.

Burj Al Arab Hotel at Night, Dubai, United Arab Emirates




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