United Arab Emirates in general

The United Arab Emirates (short: UAE) are situated in the Southeast of the Arabian Peninsula in Southwest Asia on the Persian Gulf.

The United Arab Emirates are a federation of seven autonomous emirates, founded in 1971.

The seven emirates are:

  • Abu Dhabi
  • Ajman
  • Al Fuhayrah
  • Dubai
  • Ras al Khayman
  • Sharjah
  • Umn al Qaywayn

Since the rise in oil prices in 1973, oil has dominated the UAE economy. The UAE will run out of oil approx. at the end of the century.
Recently the Emirate of Dubai has begun to develop in tourism and international finance. Many international companies have now offices in Dubai. Dubai has also liberalized the property market. Non-citizens are now allowed to buy land which is resulting in an ongoing construction and real estate boom.

The local currency is the United Arab Emirates Dirham. 1AED is currently 0.27USD or 1USD is 3.67AED.