Sample Thesis Paper
The UAE, when considered in a broad perspective, can be considered as an open economy known for functioning with a high per capita income. The Emirate of Dubai is also known for its extensive economic diversification that has allowed it to decrease its reliance on oil and gas to as low as 25% of its GDP (The World Factbook 2010). There is no doubt in the fact that oil and gas still holds a profound position in the transformation that the UAE has undergone. The UAE government is known for giving attention to creating jobs and expanding infrastructure. Dubai’s Free Trade Zones attract investors from across the world with zero taxes and lenient ownership laws.
Dubai’s GDP is composed of the primary, secondary and secondary sector. During the early 2000s, Dubai’s reliance on the secondary sector of the manufacturing industries experienced stability while reliance on the primary sector experienced a decline in face of an increasing reliance on tertiary sector. The active tertiary sector observed significant growths in the communication, real estate, financial services, and real estate, storage, transport, hotel and construction industries. Reliance on labor also experienced a significant increase while an increase in the availability of labor was observed alongside a decline in labor productivity.
The sectors of Construction, insurance, trade and banking in particular experienced an increase in capital productivity where the construction sector produced nearly four units of output per every unit of input. During the same time, the construction industry in Dubai became one of the eight essential sectors contributing to the development of the Dubai economy. By 2003, the construction industry, alongside the mining, handicrafts and trade sectors, had become the industry providing the highest returns on investment.