Tourism in the UAE is an important sector for the country. Benefitting from economic and political stability, a religiously and culturally tolerant population, as well as a wide range of events and activities, the country is an ideal tourist destination and the most successful among the Gulf nations.
According to the World Investment Report 2021 by UNCTAD (United Nations Conference on Trade and Development), which focuses on trends in foreign direct investment worldwide and at the regional and country levels, the UAE saw its FDI inflows increase by 11%, from USD 18 billion in 2019, to USD 20 billion in 2020, despite the emergence of the COVID-19 pandemic. Over the same period, the stock of FDI reached USD 151 billion.
One of the main challenges of the UAE economy is the reduction of its dependence on hydrocarbons which, despite efforts to diversify the economy, continue to represent a substantial share of public revenue. Projects of the 50, a series of developmental and economic projects, were designed to make the country the global capital of investment and economic creativity, an integrated incubator for entrepreneurship and emerging projects, and an advanced laboratory for new economic opportunities.
The global luxury real estate market has consistently been a focal point for high-net-worth individuals, offering unique opportunities for investment, opulence, and status. This article delves into a comparative analysis of the luxury real estate markets in four distinct and dynamic regions: Ghana, the United States (USA), the United Kingdom (UK), and the United Arab Emirates (UAE). Each of these markets presents its unique characteristics, influenced by economic factors, cultural nuances, and geopolitical dynamics.
The making of a powerhouse: How the United Arab Emirates (UAE) is transformed to an economic and tourism world class centre of the future.
“Sharjah was chosen by UNESCO in 1998 as the cultural capital of the Arab world”, underlines Mohammed Ali Al Noman, Director General of Sharjah Commerce and Tourism Development Authority, with pride in his voice.T hanks to several initiatives taken by Shrajah’s ruler, His Highness Dr. Sultan Bin Mohmmed Al Qassimi, Sharjah cannot be ignored by friends of Arab literature and Islamic art. “We feel like we are the museum of the world”, says Mr. Al Numan. HH Dr. Sheikh Sultan is a poet himself, he regularly writes and publishes stories of Arabian history and fairy tales for children. His books are presented every year at the famous Sharjah International Book Fair, which usually takes place in autumn in the Expo Centre-Sharjah.
