The period between 1971 and 1981, which is considered as the first federation of the UAE, saw an advancement of various courses that widely impacted this region economically. The departure of Britain from the region paved the way for diverseness in triggering economic subsistence, especially with the discovery of oil. Ideally, major changes were made during this period, although immense production of crude oil and advancement of the transport infrastructure stand out as the main pillars of the Great UAE transformation.
The UAE experienced tremendous improvements in its production of crude oil. During this period, the region strategized on first reducing the production of crude oil and later embarked on extending it, especially with major changes seen from 1987. The United Arab Emirates has ever since been recognized as the greatest producer of crude oil, which aided the vast boost of economic upsurge. Wealth from oil has been a great trigger of sprouting urban cities in various regions, including Dubai and Abu Dhabi. Since the exportation of oil is directed towards economic development, various sectors, including agriculture, have been highly boosted from this revenue. As a result, the UAE has developed exceptionally because of increased production and sale of crude oil.
Delegate your assignment to our experts and they will do the rest.
The development of transport infrastructure is also another change that has aided the vast economic growth of the United Arab Emirates. After the first federation, ancient means of transport were revived and enhanced to facilitate the transport of goods, especially from Europe to the Far East. Also, improvement infrastructure meant easier access to international and regional markets for trade engagements. Similarly, reliable infrastructure fostered the development of industrial firms triggering the setting up of manufacturing firms that created jobs and contributed to economic growth.
Ancient infrastructure in UAE (b) Modern infrastructure in UAE
Reference
Rizvi, S. A. (1993). From tents to high rise: economic development of the United Arab Emirates. Middle Eastern Studies , 29 (4), 664-678.
