The United Arab Emirates (UAE) has undergone many transformations throughout its history, but it has often been associated with glamour. From its earliest days when it was governed by Cleopatra, to its inception as the global provider of fine pearls, it is now home to a 7-star luxury hotel, an indoor ski mountain, and is featured in the latest Sex and the City film. However, all of this glamour has not come without a price – especially in political and environmental terms.
Realizing that oil and gas revenues are finite, each of the seven Emirates that comprise the country have diversified their economies in various ways. The seat of political and economic power, Abu Dhabi, focused on Islamic banking and financial markets. Dubai, the most visited of the Emirates, aimed to bring in high-end tourism, and carried out a rather frenzied building of megatowers and land reclamation projects that expanded the area’s territory into land masses in the shapes of the continents of the world, palm trees, and other novel forms. When the credit crunch hit, Dubai’s economy suffered and Abu Dhabi was forced to provide a bailout.
