UNITED ARAB EMIRATES 1
United Arab Emirates
UNITED ARAB EMIRATES 2
United Arab Emirates
Introduction
The United Arab Emirates is a federation of seven emirates located on the Arabian
Peninsula. I selected the country mainly because of its successes on the economic front, as well
as the diverse nature of its culture. Having never been officially to the country before, my
personal interest in the country lies in the high-end business establishments often represented on
business magazines. From a historical perspective, the economic transformation of the United
Arab Emirates began in the year 1958 when the first oil reserves were initially discovered in
coastal waters bordering the emirate of Abu Dhabi. During the better part of the 21st century, the
UAE executed an economic change program aimed at reducing the country’s reliance on oil
revenues. The program involved providing a helpful business environment to international
