Thesis: Major Economic Sectors of Dubai

Sample Thesis Paper

The construction industry was going through a favorable boom at this point. The sectors of education, hotel and finance were accounted as the sectors with the least return with surveys by the Dubai Municipality recording returns as low as thirty percent. The GDP was observing an average annual growth rate of nearly eight percent while the capital spending on fixed assets was growing by an average annual growth rate of almost half of that. Also, government revenues acquired from the oil and gas sector, profits from public enterprises and other sectors accounted for over eighty percent of the government’s non-tax revenue.

The early 2000s saw an average annual growth rate of twenty seven percent in the total exports of goods while total imports showed an average annual growth rate of nearly eighteen percent. Trade in services showed eleven percent average annual growth rate in imports as well as in exports.

Dubai’s economy is one that is built so that reliance on oil for GDP growth decreases with time so the non-oil products can acquire the concentration required in order to develop. Major economic sectors in this regard remain construction, services and trade. Labor and capital have been brought into use to make up for deficiencies in other factors of production.

Over the years, growth in Dubai has been observed as one that is fundamentally driven by investment. Production processes for Dubai generally rely heavily on imported capital goods and while risk taking does not provide a significant amount of incentive, activities such as short term rent seeking and wealth play significant roles as drivers of the economy.

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