The United Arab Emirates, is a country of emirates, which many people don’t take the time to fully understand. An Emirate is simply a territory that is ruled by an Islamic monarch or “king”. So, the United Arab Emirates is simply a group of kingships or dynasties. These are comprised of Abu Dhabi, Ajman, Dubai, Fujairah, Ras al-Khaimah, Sharjah, and Umm al-Quwain.
Now that we have the “what” out of the way, we can dive more deeply into what these emirates do, who lives there and how they are planning to grow on into the future.
The UAE is No Longer Simply an Oil Exporter
While it’s true that the UAE is the world’s 7th largest oil exporter, it is by no means depending on this statistic to carry them into the 22nd century. All great leaders today understand that to remain vibrant as a global economy in the future one must invest in education and technology.
Sheikh Rashid bin Saeed Al Maktoum, the current king of Dubai, understands this concept fully and that’s why he has poured much of his countries oil revenues into the investment of other diversified projects designed to help the economy weather a post-oil world.
Dubai has spent millions in developing real estate, trade, shipping, commerce and even tourism. The idea is simple; by not putting your eggs all in one basket you help protect the longevity and stability of your prosperous nation.
A Future Rich in Cultural Exports
The emirates territories fully realize that with the advancement of battery, solar, wind, thermal and other sustainable energies their countries will lose what is currently one of their biggest exports. What then will these territories have to share with the rest of the world?
In one simple word: culture.
The UAE did not begin when oil became a popular global commodity. These territories have been ruled for thousands of years by kings and their sons of often nomadic tribes. It’s a true sign of a culture’s resilience to not only grow, but to thrive in such inhospitable natural conditions,. Yet somehow, the UAE emirates have and that fascinates the world.
In the future, with their brand new, world-class infrastructure and airports the UAE will attract hundreds of thousands of tourists eager to see what existed before all the magnificent gleaming skyscrapers. People will be eager to learn about the actual human factor that contributed to the rise of one of the major global powers of the modern age.
Investments Today Mean Profitable Years Ahead
Outside of attracting tourists the UAE has positioned itself strategically between “east” and “west” as a major trade hub. With the continued rise of China and her satellite nations in the east and the old power of Europe and America in the west, the UAE is poised to profit greatly from the flow of goods and services that will mostly likely make their way through their territories, whether by land, ocean or air.
Unlike many assumptions, the UAE’s future is clearly not tied to just oil. Instead the territories leaders and people have settled for a much more bright future that builds of the greatest strength the territory has always had; it’s rich culture, friendly people and strategic importance as a connection between peoples and cultures from around the world.