Dubai, a peripheral nation within the United Arab Emirates, has at the core of its national life tourism. Tourism is comprised of individuals' activities and their stay outside their usual permanent places(Steiner2010).Tourism has become the major foreign exchange earner for Dubai's economy,and these earnings have stimulated their socio- economic development, growth and progress.
Dubai's proximity to Iran, which was a centre for trade in the early 20th century, helped the city establish itself as a port and pearl export centre.After the Great Depression and development of cultured pearls, Dubai's growth stagnated until the discovery of oil in 1966. Revenues accrued helped Dubai's economy to experience tremendous levels of growth.However, the government was quick to realize that their oil reserves were limited compared to other Middle Eastern countries such as Iraq and Saudi Arabia. The future of declining production prompted them to use the oil monies to develop the infrastructure of roads, ports, business centres, educational institutes and medical facilities.
Dubai's administrators realized that since their oil reserves were limited, they had to redirect or diversify their economy to ensure the rapidity of growth and development.Its administrators identified the potentials in tourism and believed that if right investments could be done in that sector; Dubai's economy would be strong and sustainable despite declining productions from their oil reserves. However, it meant the development of tourism needed to be commensurate with i infrastructural development and ancillary services;that would attract tourists all around the world.
The political system, which existed in Dubai, was a monarchial system that had a king as their ruler. The Monarchial government agreed that there was a need to diversify the economy because oil resources were becoming extinct and other sectors needed to be looked at in order to facilitate the country's development. Thus, huge investments were carried out in the areas of: road construction, ports development, hotel infrastructure, parks and zoos, creation of artificial islands, deserts and beach resorts, museums among others. From the late 1990s, when the raise and growth of tourism become a major stake in dubai's economy, it has created limitless possibilities and opportunities to the native citizens and the world at large such as : employment, skills development and a rise of entrepreneurs among others.
Dubai's success story is the result of its government's entrepreneurial mindset and investor oriented, business friendly. Even, after fourty years of double digit growth, its economy is still highly dynamic and robust. The future of tourism and its prospects is good for Dubai's economy; with major events like World Expo 2020 scheduled to receive over twenty two million tourists. Reports indicate Dubai alraedy has USD 705 billion worth of projects spread over the next ten years, with expectations of another USD 8.1 billion worth of new projects getting added to the pipeline following the World Expo 2020.
