United Arab Emirates: an amazing world built on oil

The United Arab Emirates (UAE), located on the coast of the Persian Gulf, is one of the richest countries in the world. In terms of per capita GDP, this country ranks 6th in the world, leaving most European countries far behind. Few people know, but only 50 years ago the territory of the UAE was a colony of the British Empire. Today, the UAE is a unique example of a prosperous community with a special political system.

The date of the emergence of this state in its present form is considered to be 1971, when six emirates - eastern monarchies, ruled by sheikhs, merged into one federal state. A year later, the seventh emirate joined them. The formation of this state became possible after the League of Arab States in 1964 announced the right of the Arab states to independence. After some deliberation, Great Britain had to reduce its presence in the region and withdraw troops from the territory of future UAE.

The prosperity of the United Arab Emirates is based on oil, which is symbolized by the black stripe on their national flag. Each of the seven emirates independently manages its oil reserves and the proceeds from their sale. Interestingly, the degree of their participation in governing the country is clearly dependent on their size.

The largest of these is Abu Dhabi. The capital of the united state is located on its territory, and the sheikh of this emirate is the head of state. As in any other monarchy, power in the UAE is inherited.

The second largest emirate is the famous Dubai. This is the second largest, but the first in terms of population emirate, whose emir occupies the post of head of government. Here is the famous city of Dubai, famous for its business centers, luxury and resorts.

The remaining five emirates are listed in decreasing order of size - these are Sharjah, Ras al-Khaimah, Al Fujairah, Umm al-Qaiwain and Ajman. Interestingly, all seven emirates are named for their capitals.

Despite the fact that hydrocarbons and favorable prices for these raw materials ensured the rapid prosperity of the UAE, the country is not limited to oil production.

Everyone knows the big role of the tourism sector in the UAE economy. The best cities for a beach holiday are considered Abu Dhabi, Dubai, Sharjah and Ajman. Magnificent hotels, artificial islands, thousands of shops and fancy skyscrapers attract about 15 million tourists annually.

In addition to tourism, trade plays an important role, in particular the transit of goods, as well as the banking sector. The number of business centers in this state is increasing every year.

Interestingly, the country, almost the entire territory of which is occupied by sandy and rocky deserts, has relied on the development of agriculture. The success of this ambitious project depends on the availability of fresh water. Revenues from oil sales are growing every year, and the UAE can afford such a luxury. Several seawater desalination plants are already operating in the country and several more are under construction. Fresh water goes to the needs of a growing population, as well as irrigation of agricultural fields. It seems unbelievable, but in addition to the traditional date palms, the UAE grows strawberries in its fields and even exports this product to Europe.

Today, the UAE is a tempting place where labor migrants come not only from the Middle East, but also from India, China, Bangladesh and many other countries.

The United Arab Emirates does not cease to amaze the world. A country ruled by sheikhs and a council of elders has managed to achieve unprecedented prosperity in a dynamically changing world. Here, the wisdom and traditions of the East are combined with Western pragmatism and determination, and each barrel of oil produced brings the country closer to the realization of the most ambitious projects of our time.