Tuesday, August 24, 2010
Dubai City
Dubai is one of the seven emirates of the United Arab Emirates (UAE). It is located south of the Persian Gulf on the Arabian Peninsula and has the largest population with the second-largest land territory by area of all the emirates, after Abu Dhabi. Dubai and Abu Dhabi are the only two emirates to have veto power over critical matters of national importance in the country's legislature.Today, Dubai has emerged as a global city and a business hub.Although Dubai's economy was built on the oil industry, currently the emirate's model of business, similar to westernized countries, drives it main revenues from tourism, real estate, and financial services. Dubai has recently attracted world attention through many innovative large construction projects and sports events. This increased attention has highlighted labour rights and human rights issues concerning its largely South Asian workforce. Dubai's property market experienced a major deterioration in 2008 and 2009 as a result of the worldwide economic downturn following the Financial crisis of 2007–2010.
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