The UAE was formed in 1971 when British Forces withdrew protection of the Trucial states. Key economies in the UAE are Dubai and Abu Dhabi. Abu Dhabi is the capital of the United Arab Emirates with a population of 950,000 inhabitants. It is home to the UAE government to Central Bank of the UAE. Abu Dhabi has in the past been labelled the richest city in the world, though this largely depends on wealth criteria employed. Over half of the total GDP of the UAE is generated by Abu Dhabi alone. Abu Dhabi’s early economy largely depended on the Pearl trade though in more recent times, oil has contributed the majority of its riches with gas also becoming an important export for the country. Significant investment has been made to diversify the economy across tourism and financial services. The UAE also comprises Ajman, Dubai, Fujairah, Ras al Khaimah, Sharjah and Umm al Quwain. Dubai like Abu Dhabi, has amassed huge wealth from its mineral reserves and has invested heavily in order to diverisfy its economy with the most prominent property projects being the “Palm” and “The World” on islands built in the sea. Many events attract visitors to the UAE including:
- Abu Dhabi HSBC Golf Championships – Jan 16 – 19 2014
- Abu Dhabi Film Festival – October each year
- Coutts Polo at the Palace – Emirates Palace, Abu Dhabi
- Abu Dhabi Grand Prix – Yas Marina Circuit Abu Dhabi
- Dubai International Motor Show – Dubai World Trade Centre
- Meydan Race Nights – Meydan Racecourse, Nad Al Sheba
- Dubai Airshow – Dubai World Central.