Accommodative monarchy

Here I want to write few words about United Arab Emirates (being in United Arab Emirates at the very moment). UAE is a bit of headache for modern economists as it is absolute monarchy while it is also a prosperous state. Indeed, overwhelming part of its prosperity grounds on oil exports, but diversification efforts made in one of its emirates, Dubai, are amazing. In 2014 we have following facts: Dubai as a city is Alpha+ city (see Global city article in Wiki), it is the 5th most visited by tourists city, ahead of New York and Istanbul, UAE is 12th in Global Competitiveness Report.

Let me share with some observations: Dubai metropolitan is very convenient, local cuisine is mostly about meat and sea food, the weather is nice in December (but I suspect not so nice in July), Persian Gulf is relatively clean and soft for swimming, shopping experience is good ('Day to Day' rules!), culture of the city is relatively diverse and international, landmarks (Signing Fountains, Burj Khalifa, Palma Jumeira etc.) deliver.

Of course, there are many undercurrents here in Dubai: use of cheap labor from South Asia, regular support from Abu Dhabi oil cushion in cases of financial distress (as in 2008-2009) and some others. In any way, wise local rulers did not miss God given opportunity for the country to became financial and cultural hub between East and West.

I will try to get some insights on UAE later on.