Cultural Dimensions of Economic Development: A Case of UAE

Abstract

Economic development, which is sought all over, is a long-term increase in national and per capita income for higher consumption and happiness. It may seem lacking in finer things that go under the name of culture. As such, this study sets to examine the cultural dimensions of economic development, with the case study of the fast-developed small nation of the United Arab Emirates (UAE). The giant developing India is also drawn upon. The objectives of the exercise are to find out the nature and dynamics of economic development and its cultural dimensions or content and thereupon draw policy implications regarding economic and cultural development. The interesting conclusions that follow from the exercise are that, there are invariable cultural dimensions to economic development and that a cultural sector emerges in the course of economic development. More emphasis needs to be given to culture in development policy and planning, without culture, economic development is not wholesome, as the UAE is amicable of wholesome holistic development.

The Transformational Leadership of the Founding Leaders of the United Arab Emirates: Sheikh Zayed Bin Sultan Al Nahyan and Sheikh Rashid Bin Saeed Al Maktoum

“…Among other things, the leadership factor has been brought to the fore by the financial crisis of 2008 [41] [42], with many calling the crisis a leadership crisis, particularly the leadership of the big banks in the premier United States of America going astray [43][44] [17][45] [46]. Thus, leadership appears to become an increasing factor of importance [47] [48], and the performance of companies and their public standing is explained in terms of their leadership, represented by CEOs, Presidents/Chairman and Boards, and the workforce [49] [50].…”

“…They are all comrades in -in-armsfor public service and the people. National and Business and leaders like, Sheikh Khalifa bin Zayed Al Nahyan [46][51], Bill Gates and Warren Buffett are national and international iconic figures in social and human concerns as they formed with others the elite group of billionaire philanthropists [52] [53]. They have many business, life, and social lessons to convey, especially Buffett, who is known, in addition to wealth creation [54][6], for the personal non-ostentatious use of the wealth.…”

Population growth and its impact on retirement age in the UAE

“…30% of expatriates believe that aging individuals will retire early with technological advancement since they will lack market-oriented skills in a digital era. Some investors believe the emergence of smart cities is a vital strategy that will help establish digital business platforms; hence there will be double employment opportunities (Ahmed & Rafiuddin, 2018). Many aging workers will extend their retirement age since the market will still demand much of their services.…”

“…It is likely because of the high demand for an energetic class of young individuals in the market. The increased inclusion of science and technology in their universities creates a pool of skilled young professionals capable of solving market problems resiliently (Ahmed & Rafiuddin, 2018). Most aging persons will be forced to retire early in the future because the market has a preference for young, energetic graduates.…”

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“…The Arab region is a distinct socio-economic-cultural region, which is an economic ascendency (Ahmed and Rafiuddin, 2018). As such the extensive region's principalities like Oman appears to offer a good testing grounded for modern multi-variable marketing theory, adding to it an interesting Arab dimension.…”