Dubai V: Tomorrow’s Arabia, Today

Aired June 2008

Where once was barren desert, icons of modernity have risen. Where once was a quiet fishing village, definitive statements of ambition were born. And where once was a loose federation of sheikhdoms, a 21st-century dynasty has emerged. Tomorrow’s Arabia is here. Come witness one of the most amazing transformations on the planet. Welcome to Dubai.

Dubai is full of hyperboles. It has the world’s tallest tower…the most luxurious hotel…the biggest airport…the biggest seaport…and even The World itself, a collection of more than 300 man-made islands forming a world map. When it comes to development projects, Dubai thinks big.

But headline grabbing initiatives like these are just one part of Dubai’s success story. Faced with declining oil reserves, Dubai has managed to diversify its economy so effectively that the petroleum sector now accounts for only 3 percent of the GDP. As Dubai’s ruler, Sheikh Mohammed bin Rashid Al Maktoum, puts it, “We were in a race against time, and we won.”

Strong, far-sighted leadership is the key to Dubai’s achievements. In the 1960s and 1970s, ruler Sheikh Rashid bin Saeed Al Maktoum established a strategy of turning the country’s oil wealth into schools, hospitals and state-of-the-art infrastructure. He also promoted regional cooperation. Sheikh Rashid was instrumental in forming the federation that officially became the United Arab Emirates in 1971.

Dubai today is a Middle East success story, an oasis of stability in a region torn by conflict, and a political, economic and social experiment that is the vision of one man. The Arabia of Tomorrow is led by Sheikh Mohammed bin Rashid al Maktoum.

As the Ruler of Dubai and the Prime Minister of the UAE. His mandate is to strongly promote the private sector, open the doors to foreign investment, implement worldclass standards, and enhance its tourism appeal. Dubai has managed all this while also maintaining its role as an Arab nation that stands for stability, peace and prosperity in the Middle East. Sheikh Mohammed has introduced a strong business model to the world.

BUSINESS CAPITAL

Dubai has come out of nowhere to become one of the world’s fastest growing and most sophisticated urban capitals. Its skyline changes almost daily as more and more skyscrapers soar above the Gulf, and building cranes loom everywhere as the construction continues. Roads are clogged with traffic, and although the government is working hard to solve that problem, the low costs of fuel in a nation bursting with oil makes the UAE one of the biggest consumers of energy per capita in the world. Dubai is also a melting pot of cultures, with 80 percent of the population coming from other countries. It is a vibrant example of how people from all over the planet can live harmoniously in a quest for a single goal: success. Prosperity is everywhere you look in Dubai, and foreign investors are taking note.

Having firmly established its position as a global financial-services hub with the success of the Dubai International Financial Center, Dubai is working hard to boost its international presence in many other sectors. Clearly, there has to be something more than the hype about Dubai.

INFRASTRUCTURE

Massive investment in infrastructure is one reason for Dubai’s economic success story. Now ranked the Middle East’s top logistics hub, Dubai operates some of the world’s busiest ports, and its international airport is one of the fastest-growing air transport centers on the globe. When it comes to infrastructure, Dubai dares to be different.

One way Dubai has successfully diversified its economy is through establishing investor--friendly free zones, including “cluster” developments that focus on particular sectors. The Jebel Ali Free Zone, located between Dubai and Abu Dhabi, features state-of-the-art infrastructure, investment incentives, superior support services, easy contact with like-minded enterprises, and a chance to establish a base in one of the world’s fastest-growing regions. It is billed as the world’s first truly integrated logistics platform.

Jafza is one of the world’s most services driven, customer centric free zones. Free from of red tape and vexing restrictions, Jafza provides its customers an environment which is most conducive for growth. Jafza is now a globally renowned commercial and industrial hub, home to nearly 6,000 companies from well over 100 countries.

TOURISM

Bigger, better, and taller: Dubai’s high-profile, resolutely upscale hotel scene demonstrates just how committed the government is to making Dubai one of the world’s top tourism destinations. Burj Al Arab tower hotel, on its own island near downtown Dubai, is so far off the scale in opulent luxury that it’s been ranked with a record seven stars. 36 floors in the new Burj Dubai, the world’s tallest building, will be devoted to the world’s first Armani hotel. Dubai’s hotels are definitely something to write home about, a destination in itself. And that’s just the beginning.

In Dubai, spending money is easy. Dubai’s commitment to shopping is, quite frankly, a cause for addiction. Outrageously big shopping malls such as the Ibn Battuta Mall, where you will need a guided tour to visit its various courts themed after various countries, and the Mall of the Emirates, which takes the concept of a shopping center to the next level. It is home to the Middle East’s first dry ski slope, Ski Dubai, where you can easily forget that you are in the middle of the desert in the middle of summer.

The Souk Madinat Jumeirah is a recreation of a traditional Arab marketplace and it is ostentatious and extravagant . Relief comes in the shape of Dubai’s famous markets, or souks. Whether it’s gold, frankincense or myrrh, these souks will have something for all budgets and tastes.

Dubai is also positioning itself as the Middle East’s premier hub for sporting events and spectacular stage shows. Truly a home for some of life’s most indulgent pleasures.

Many times, the reason for many foreigners moving to Dubai is a relatively simple one: year-round sunshine and beautiful beaches. With a coastline that contains some of the world’s most pristine waters, Dubai’s beaches are simply divine. With a lifestyle like this, who wouldn’t want to move to Dubai.

Getting to Dubai has never been easier, especially now that national carrier Emirates Airlines, one of the world’s fastest-growing airlines, offers non-stop flights from New York and dozens of other locations in the United States