As part of the strategic map for 2020, the responsibility of the tourism, investment and development division includes prioritization of initiatives and strategic planning. The main objective is to transform Dubai into the most attractive tourist destination in the world through effective performance management systems and resource allocation. The main responsibility of the destination development division is to outline development briefs in coordination with expert advisors. In order to ensure the full implementation of initiatives and plans, the tourism sector works with the private and public sectors. Moreover, through the tourism investment function, projects that have a high economic impact and are subsidized by the government tend to control the management, return on investment and transparency in allocation.
Dubai today is one of the most desirable tourist destinations in the world, but long ago it was just a tiny settlement area near the shores of the Arabian Gulf. This region, which was maintained by fishing and the sale of precious stones, was originally inhabited by the Turkish people, followed by the Mongols, the Portuguese, and finally the British.
Dubai has developed a lot because of oil money, which has now been invested in the construction of industrial hubs such as biotechnology, semiconductors and electronics, petrochemicals, ores and metals, among others. In these parks, a specific regulatory framework is applied, which favours investments, the rapid installation of new companies and a return on all invested capital.
The Dubai government chose to diversify the activities of an economy dependent, in large part, on oil and increased the service and tourism segment. It was there, between 2004 and 2006, that the real estate boom occurred. The buildings became profitable, and the city was transformed.
Today, Dubai is known for its impressive megaprojects. In the urban centre, where the business capital of the United Arab Emirates is, emblematic endeavours are located, such as the Hotel Burj Al Arab, the only 7-star hotel in the world; The Palm, an artificial archipelago that can be seen even from space and has, as well as houses, shopping and entertainment areas; The World, which has 300 artificial islands; the largest indoor ski slope in the world, among many others.
Dubai also has the highest population density in the country, and its economy is concentrated in different sectors of the rest of the Emirates. Today, the exploitation of oil and natural gas accounts for only 7% of income.
