Whether we call it a recession or not, one thing is sure, we are going through a severe economic crisis, which will be discussed (once over) in the Economics syllabus and debates, in coming years. In this global crisis, where the likes of United Estates or European economies are feeling the heat, United Arab Emirates economy continues to head into positive direction. All the economic indicators and reports are also confirming to the fact that there will be no slowdown in near future. Let’s have a look at this thriving economy and the contributing factors.
Oil & Gas reserves:
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Even as Dubai’s rising expatriate population is being projected as a measure of its association with the outside world, many historians, media experts and political observers are looking at the same phenomenon with some concern these days. Very recently, an editorial in the Gulf News stated how eight out of every ten people living in the UAE were born abroad. This was expected to reach up to nine out of every ten by the year 2015. This scenario might become even more imbalanced by the year 2025, when the expatriate community will almost score ten out of every ten native citizens counted. This analysis is however hypothetical in kind, and there are factors overlooked by the author, which might actually decide a totally different demographic scenario in the years to follow.
First of all, the current crop of construction projects are expected to be over in the next 5 to 10 years, which will force up to 50% of the UAE’s expatriates to go back to their homelands. The expatriate population will still continue to remain quite significant though, as the properties being developed now will mostly by bought by the offshore clients later. The projected scenario of the Gulf News article can only arise, if the authorities kept announcing more and more new projects in the years to come. This could again be called a distant possibility, as no nation can ever dream of having an endless growth.
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Arab societies have always been patriarchal in nature. The prevalence of strict Islam makes them male dominated in all walks of life. Despite the modern face lift of their infrastructure and economies they have had, most Arab countries are still adamant when it comes to providing their women with equal opportunities as men. For example, in a country like UAE, which has a high level of female education, the ratio of female participation in the workforce is still very low. As per the officially made available data, about 65% of the UAE’s university students were females, but their participation in the country’s workforce was only around 15%.
This might be about to change however, if the recent trends from media and various government resources had to be believed in. With a booming economy and increased job opportunities, the UAE government was trying out its best to empower their women with higher education and job placements. This has given rise to a sudden influx of the local women applying for jobs in various professions. One could see as a result, many young and confident Arab ladies taking up responsibilities on various fronts in the UAE today. From being radiologists to TV presenters or managing online ventures, the UAE’s women are moving forward in all spheres gradually.
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