The city of Dubai is inarguably one of the most prosperous cities in the world. Located on the northeastern coastline of the United Arab Emirates (UAE), Dubai has become the Middle East’s global business center and its richest city.
Over the last 20 years, the UAE’s GDP has exploded, with today’s figure currently at over three times that of the year 2000, according to the World Bank.
In terms of GDP per capita, the figures are even better. According to the CIA World Factbook, the UAE is ranked 14th in the world at $67,700 per capita. For comparison’s sake, keep in mind that the United States is ranked 20th.
To be clear, a high majority of this wealth increase is attributed to the oil industry. The Embassy of the UAE to the United States states that the UAE’s oil reserves, the seventh largest in the world, account for approximately 25 percent of its total GDP.
Much of this money has been invested in the development of Dubai, though, which is now the UAE’s largest city. The reason for this has been due primarily to the volatility of international oil markets. As the UAE looks to lessen its reliance on oil exports, it is transitioning its economy into one that is based on knowledge and technology. Dubai, therefore, is flush with funds, and with GDP growth expected to be between 3.5 and 4 percent this year, the city’s revenues are skyrocketing.
Poverty in Dubai isn’t demonstrated in homelessness and joblessness, but rather in the labor conditions of its working class. These people, the high majority of which come from countries like India and Indonesia, travel to Dubai looking to work and send money back home to their families. Many times, they are promised good pay and living conditions, although this is almost never the case.
Canadian University Dubai has established numerous partnerships with private and public-sector organizations from across the UAE, as well as international corporations with an established presence in the country. These partnerships are a result of collaboration, complementary interests and common goals, and have helped bring mutual benefit to the University and its partner organizations. We offer our expertise and harness our resources as an institution of higher education, to support the strategic objectives of our associates and collaborators. In turn, we and our student community benefit from partnership initiatives such as internships, placements and job opportunities, professional lectures and research projects, corporate scholarships, and financial support schemes.
CUD plays a major role in fighting poverty around with the alignment of the government to achieve a sustainable society according to 2030 vision.