Travel

Dubai

The Traveller's Heaven, businessman's oasis

By Charmaine FERNANDO

Dubai is one of the world's most exciting new travel destinations. One of seven Emirates, of the United Arab Emirates, Dubai, is a place of fascinating contrasts, a distinctive blend of modern city and timeless desert, east and west, old and new.

Lying on the blue waters of the Southern Arabian Gulf and backed by the vast desert, Dubai offers visitors year-round sunshine and five-star luxury plus superb facilities for sports, shopping, dining and entertainment, the adventure of a unique Arabian experience.

Dubai is setting benchmarks for property development throughout the world today. With gigantic landmark developments such as 'Dubai land', 'Sports City', 'The World' and 'The Palm' , Dubai will dominate the future of overseas real estate investment for many years to come.

Thinking big

Dubai has a very small population. Despite the fact, Dubai's total imports exceed $14 billion. Dubai being the major re-export centre for the region is the reason. Dubai represents the trade, investment and knowledge hub for the Gulf, which has a population of 40 million and an economy that has grown three-fold in only five years to $1 trillion.

Dubai is already making the structural changes necessary to best manage this new economic reality. No one has ever accused Dubai of being afraid to think big or new or different. Dubai continues to show the world that some things are possible only in Dubai.

Spectators can enjoy a host of premier sporting events such as the world's richest horserace, the Dubai World Cup, the Dubai Desert Classic Golf Tournament, the Dubai Tennis Championships, Rugby Sevens, the Emirates Grand Prix Power Boating and the UAE Desert Challenge, in Camel Racing, a unique experience for visitors to Dubai.

The UAE has 15 Camel racetracks across the country with spacious and well-kept stadiums for viewers. Currently, there are approximately 14,000 active racing camels in the UAE.The Dubai Creek Golf and Yacht Club is a sporting oasis nestled alongside the hustle and bustle of daily life and the lapping waters of the Dubai Creek. The clubhouse's signature sails set dramatically against the Dubai skyline.

Also featured are ornamental lakes, waterfalls, sea water hazards and magnificent individually sculptured greens. The club has hosted both the Asian PGA Tour and the Dubai Desert Classic of 1999, 2000 and 2004 respectively, which means it has the unique distinction of being the only place to hold events on both the European and Asian circuits. From championship-quality golf courses and spas to water sports and desert adventures, Dubai has it all, lifting the quality and standard of entertainment to a new high.

Virtual shopper's paradise

The famed Dubai Shopping Festival offers the world's best brands at the cheapest prices on earth. The increasing spending figures are not surprising because, without import duties, Dubai is home to the largest collection of international consumer durables in the region.

Dubai Shopping Festival is currently on and will go on till the 15th of February. Mall of Emirates, Dubai one of the greatest international success stories in the process of economic development, counts its strategic location as a key element in its success. The heart of one of the worlds richest regions, Dubai is located midway between the Far=East and Europe. Over 120 shipping lines and 100 airlines connect to more than 140 global destinations.

Surrounded by vast dunes of rolling sand lapping at the foothills of the Arid Hajar Mountains to the east, Dubai has come of age as the ideal tourist destination. Often known as 'The City of Gold' or 'The City of Lights', better be the celebrated ' City of Records'. It is incredible to note the lightening-speed of progress taking place in the 'fastest developing city in the world' and other record breaking fetes. From the first 7-star hotel in the world and the first ski-domain in the desert, to the largest man-made islands and the richest horse race in the world, Dubai has set an unrivalled record with a quantum leap forward. Dubai is also breaking records for tourism growth. The period between 2001 and 2004, the yearly number of visitors to Dubai has grown by almost fifty per cent to over 6 million.

Dubai; the city of amazing growth

Today, oil and petroleum contributes just 20% to Dubai's economy. Trading, manufacturing and services, including tourism, business travel, and hospitality now dominate the economy.

The government's decision to diversify from a trade-based but oil-reliant economy to one that is service and tourism-oriented has made real estate more valuable, resulting in the property boom from 2004-2006. Dubai GDP is expected to reach $69 billion in 2008.Currently $45 billion in real estate is under construction in Dubai, with another $45 billion in development. Dubai's population averages a growth of 5.8% each year, while employment growth averages 8.3%.

Dubai is the MICE capital of the region; Dubai World Trade Centre hosts more than 100 business and trade events annually. Dubai is a heaven for business; there is no corporate tax in Dubai (except for oil producing companies and branches of foreign banks). Likewise, there are no personal, income, capital or withholding taxes. Retail spending is expected to reach $7.6 billion by the end of 2009. The Annual Shopping Festival contributes about 7% of Dubai's GDP.

Dubai is targeting 10 million visitors annually by 2007 and 40 million by 2015. Witness the world's busiest airport and tourist hub in the making.

Dubai has not only arrived at its strategic growth destination; it has simply overtaken the entire world. The desert flower has blossomed, as if it were the only one, in the whole arid desert.