The impact of culture and economic situation in Dubai for The current situation and future prospects

Running head: The impact of culture and economic situation in Dubai for the current situation and future prospects
The impact of culture and economic situation in Dubai for the current situation and future prospects
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Table of Contents
Abstract
Problem statement
Introduction
Background
Analysis
Scenario planning
Future Developments
Conclusions and Recommendations
Bibliography
The impact of culture and economic situation in Dubai for the current situation and future prospects
Abstract: This paper is on "The impact of culture and economic situation in Dubai for the current situation and future prospects". The study’s overall aim is to scrutinize how and why Dubai developed to turn into the region that it has. This broad aim allows the study to explore various ideas that explain Dubai’s development, the current disorder and potential forthcoming with regards to financial and cultural developments. It examines the disposition of culture in encouraging or discouraging country-level economic performance. It furthermore explores how, when it comes to monetary development, not all cultures are created equal. For the global company and the practicing manager, our results indicate that cultural values appear to have a few statistically significant and operationally significant economic effects.
Problem statement: The world monetary catastrophe has hit Dubai's economy, crashing the brakes on its rising and falling development and dimming its gold sprint status. Development ventures are being delayed, tourism is expected to decline and the administration is even exploring how to begin collecting taxes, once almost unthinkable in this freest of free market enclaves. All this is troubling news for the fortune seekers who flocked here in recent years however an unexpectedly welcome development in some respects for one group: Emirati natives, the 10 percent or so who trace their lineage to the Bedouins and traders who once had this baking sliver of sand to themselves. Emiratis have been bothered for years over the loss of their culture, as social norms developed into more a product of the newcomers than of the nationals. At present, some are pinning their desires for a cultural salvation on the global economic downturn, which they hope will diminish the numbers of foreigners driving into their country and give them a chance to reassert their customs and way of life. The sudden cold snap in the economy, more than in societies in the West and the Far East, has forced a combined rethinking of the country's direction. conceivably the most complicated problem is being asked by Emiratis themselves, who want to distinguish where they fit into their own country. In an odd case of role reversal, the minority of nationals fear they are becoming similar to colonial lords in their own country. (Hazel Heyer 2010: 1)
Introduction: Dubai has been perennially acknowledged to be for the most part Un-Gulf status, since it doesn’t depend on oil as a solution driver for its financial system. As an alternative, throughout its glory days amid the late 1980s right until recently, Dubai relied on tou...