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UAE history and economy

The rich history of UAE is based on trade. It is linked to Islam, which arrived in the UAE in 630 AD. UAE follows an open economy and the per capita income of the country is quite high and also the foreign exchange is also surplus. The different successful efforts related to financial growth have successfully reduced the ratio of GDP based on oil, and gas; it estimates upto 25% (Zarrouk, El Ghak, and Al Haija, 2017). Within four decades UAE has transformed from a tribal and rural community to a reliant and world-class commercial country is it is an example of overcoming hardship. As the UAE became modern, the government focused and improved education (to effectively eliminating illiteracy), it also worked for the social insurance, and made massive changes while remaining true to the UAE's culture, history and the social characteristics. The UAE’s plan for the next upcoming years is to expand opportunities for its citizens through providing improved education and also enhancing more commercialization.

The UAE, has established itself as an attractive market for its business visionaries in future, it provides a simple, and pleasant business climate and also has a high level of governmental stability. The United Arab Emirates is the fourth largest world's oil producer. UAE is believed to be the Middle East's commercial, and visitor centre and the wealthiest state on the basis of per capita income (Kalaitzi, and Cleeve, 2018). Tourism is one of the most important areas where the UAE earns a lot of money. The UAE is a member of and participates in several international organizations, including the United Nations (UN), the World Trade Organization (WTO), the Arab League, and the Gulf Cooperation Council (GCC), among others. The United Arab Emirates is now a large, vibrant, and cutting-edge country with global attention. This paper will focus on the external analysis of the UAE, which will be done with the help of the PESTE analysis.

The airline industry can be regarded as one of the industries in the world that is growing at a fastest rate. The airline industry provides a wide range of business, including air transport services. The air transport services are provided for both the cargo and the human travellers. Jets are most common, but helicopters are also used to provide service to humans in special cases. The airline industry provides chartered and scheduled services and is a part of the wide travel industry. The airline industry also provides a variety of career paths, for instance, pilots, flight attendants and ground crew.

EasyJet PLC or the easyJet is a UK multinational lower airline service provider. The headquarter of the airline industry is in London Luton Airport. It provides services at both domestic and international locations. There are around 1000 routes, and it serves more than thirty countries in the world through its affiliate airlines such as EasyJet UK, EasyJet Switzerland, and EasyJet Europe. The EasyJet PLC can be found on the list of  London Stock Exchange and a constituent of the FTSE 250 index. Stelios Haji-Ioannou, a Greek Businessman, is the largest stakeholder in the company. Around 13,000 people work under the airline (Corporate. Easyjet, 2022).

Tourism industry and international organization memberships

Abu Dhabi, the capital of UAE is regarded as the developed country in the world.  In the Middle East, the UAE can be considered the biggest power; UAE has a strong influence on the other countries. UAE, has a very good business relationship with the countries like United States, Saudi Arabia, India, China, and many other countries. However, its elation with Iraq has been strained after the Yemen war. UAE is vital participant in blockade of Qatar since 2017 (BBC, 2020). The UAE is also significant member of many international and political forums, for instance the UN, the World Bank, the IMF, the Arab League, the OIC, the OPEC, and the GCC. UAE economy is regarded as the 29th largest across the globe; the GDP recorded in the year 2022 is $425 billion (Trading Economics, 2022). The potentiality of the market is huge because it exports crude petroleum, refined petroleum, and metals like gold, diamonds, apart from this petroleum gas is exported to countries like India, Japan, China, Oman, and Switzerland (OEC, 2022).  Ten million people is there in UAE (Worldometer, 2022). Only 20% of the Emirati natives can be found in UAE, UAE can be regarded as a multicultural country. India, Pakistan, Bangladesh, the United Kingdom, the United States, Iran, Canada, China, the Philippines, South Africa, and Nepal are the countries from where most immigrants in UAE come. According to reports the UAE is home to around 200 nationalities, thus, making it one of the most multicultural cities around the world. The rich history of UAE is based on trade. It is linked to Islam, which arrived in the UAE in 630 AD. The Information Communication Technology (ICT) industry  in UAE is competitive. UAE has developed so fast in such a short period; it now faces certain environmental difficulties.  Noise from construction, carbon footprints, restricted water supplies, overfishing, air pollution, land degradation, and desertification are factors affecting the environment constantly.  The nation is focusing and investing heavily on the sources of energy that is renewable for instance, solar and wind power and UAE launched the 'Energy Strategy 2050 as an initiative towards environment. A picture is demonstrated below to get an idea at the economy of UAE-

Political factors of the United Arab Emirates

 The political structure of the UAE is a constitutional federation. UAE consists of seven emirates: Abu Dhabi, Ajman, Dubai, Fujairah, Ras Al Khaimah, Sharjah, and Umm Al Quwain. There are different seven rulers who rules each of the emirate. Abu Dhabi, the capital of UAE is regarded as the developed country in the world.  In the Middle East, the UAE can be considered the biggest power; UAE has a strong influence on the other countries. UAE, has a very good business relationship with the countries like United States, Saudi Arabia, India, China, and many other countries. However, its elation with Iraq has been strained after the Yemen war. UAE is vital participant in blockade of Qatar since 2017 (BBC, 2020). Even UAE has taken the initiative to diminish critical conditions in the Middle East and specifically mitigate tension with Iraq. The political freedom in UAE is limited, according to many scholars (Alwan, and Khader, 2019). But, the government in the country is quite powerful; the civil liberty for both the national and foreigners is quite limited; the ultimate power lies in the hands of the rulers (Emirates.org, 2017). But the market in UAE is quite stable because the country is rich in natural resources; hence the political situation will prove to be advantageous for EasyJet because if the company adheres to the political ideologies of UAE, there is a high chance that the airline company will receive tremendous support.

Overview of the airline industry

UN, the World Bank, the IMF, the Arab League, the OIC, the OPEC, and the GCC are some of the forums where UAE is a major participant. UAE is regarded as the 29th largest economy in the world; the GDP recorded in the year 2022 is $425 billion (Trading Economics, 2022). The potentiality of the market is huge because it exports crude petroleum, refined petroleum, and metals like gold, diamonds, and apart from this it also exports petroleum gas to countries like India, Japan, China, Oman, and Switzerland (OEC, 2022). UAE is one of the richest countries. The economy of UAE is quite progressive as it has abundant natural resources, the economic diversification is at its peak, and there is a consistent flow of the Foreign Direct Investment (Sbia, and Alrousan, 2016). Because of its huge potentiality in the market, the country will prove to be advantageous for the airline industry (EasyJet); if the airline industry adheres to its policies, immense financial help can be received that might help the EasyJet to expand its business more.

In the Arab Emirates, 76 years is the life expectancy rate of the male and the of female is 78 years. The main language of the country is Arabic, and the main religion is Islam (BBC, 2020). The GDP of UAE is quite high, and so it is regarded as one of the world's wealthiest countries. The Emiratis are highly sociable as well as conservative in certain aspect, and they enjoy living in the same house with family members. They strongly believe in religious practices of Islam, and also links their traditional with their life. The population of UAE’s is continuously rising because of high birth rate and low death rate and immigration as well, there is a significant need for higher education. There is massive development of universities and higher educational institutions to satisfy the needs of the citizens, and the immigrants or the other foreigners who visits UAE (Elessawy, 2018), it created new chances and opportunities for new professionals who are interested in working in the country. These new professionals generate a market opportunity to attract others.

Within four decades UAE has transformed from a tribal and rural community to a reliant and world-class commercial country is it is an example of overcoming hardship. As the UAE became modern, the government focused and improved education (to effectively eliminating illiteracy), it also worked for the social insurance, and made massive changes while remaining true to the UAE's culture, history and the social characteristics. Only 20% of the Emirati natives can be found in UAE, UAE can be regarded as a multicultural country. India, Pakistan, Bangladesh, the United Kingdom, the United States, Iran, Canada, China, the Philippines, South Africa, and Nepal are the countries from where most immigrants in UAE come.According to reports the UAE is home to around 200 nationalities, thus, making it one of the most multicultural cities around the world. The rich history of UAE is based on trade. It is linked to Islam, which arrived in the UAE in 630 AD. UAE follows an open economy and the per capita income of the country is quite high and also the foreign exchange is also surplus. The different successful efforts related to financial growth have successfully reduced the ratio of GDP based on oil, and gas; it estimates upto 25% (Zarrouk, El Ghak, and Al Haija, 2017). The UAE’s plan for the next upcoming years is to expand opportunities for its citizens through providing improved education and also enhancing more commercialization.

Introduction to EasyJet

There are variety of societal difficulties that the population in the states of UAE are currently facing. According to certain reports, the gap that has been created in economic aspect is a major issue, and it has been also noticed that the rich people of UAE retain almost half of the UAE's wealth. Issues like obesity, drug abuse, the high standard of living has increased and is posing a threat, apart from that racial prejudice is also notable in Dubai and Abu Dhabi (De Bel-Air, 2015), and a high divorce rate are societal issues to be aware of. Just because UAE is a country where the number of immigrants is more, hence the immigrants who have come to UAE for job travels a lot, and this would be an opportunity for EasyJet; this would maximize the profit of the airline company and will also help them expand their business more.

 The Emiratis uses social media at a larger extent. It has been found out that a normal Emirati spend around 2 to 3 hours every day on social media. Approximately, it has been noticed that around 82 percent (ITA, 2022) of the UAE's population has a Facebook page, a YouTube account. Apart from that Twitter, LinkedIn, Pinterest, Instagram, and Tumblr are other popular social networking platforms (ITA, 2022).

 In the year of 2001, the UAE has successfully created the eDirham card so that people can make payment easily especially for the governmental and non-governmental facilities easier. In UAE, the government has made significant investments in areas like the research related to space, the life science, the nuclear science, and the information technology Al (Marzooqi, 2016). The UAE has the most attractive ICT market in the Middle East.

The UAE is home to various organizations that uses and focuses on the advanced technology. It has helped in aiding and developing a more technical workforce who can be employed to generate massive economic growth in the country. The Information Communication Technology (ICT) industry can be regarded as competitive in UAE competitive. The government of UAE has taken several measures to foster a competitive knowledge environment (ITA, 2022). It would be an advantage for EasyJet, as they will receive a lot of support based on technology that would help them enhance their business operations and effectively perform in the market.

The UAE in the present scenario can be regarded as one of the most visited countries in the entire world. There are luxurious hotels, magnificent malls, skyscrapers, beaches, ancient sites, indoor theme parks, and diverse cuisine which helps in attracting millions of travellers each year. It is also worth mentioning that the UAE is exceptionally secured for the single female travellers, various hotels and malls are present that is operated by female staffs and extremely secured for female visitors.

UAE in a very short period of time has developed tremendously, as a result of technological innovation the country is facing certain environmental difficulties.  Noise from construction, carbon footprints, restricted water supplies, overfishing, air pollution, land degradation, and desertification are factors affecting the environment constantly (Shareefdeen et al., 2020).  The nation is focusing and investing heavily on the sources of energy that is renewable for instance, solar and wind power and UAE launched the 'Energy Strategy 2050 as an initiative towards environment. (Al-Jenaibi, 2017). It might act as a challenge, the environmental issues have become immense, and the strategies that are used to cut the emission of carbon dioxide are costly, and UAE has become serious about the environmental issues; if the company wants to operate in UAE, they have to keep in mind the environmental policies, to effectively operate and to avoid any legal action.

UAE's political structure

Conclusion

The UAE is a country that is active in the global economy because of its rapid industrial growth, trade agreements, diverse exports, and technical improvement. As long as the Emiratis do not use their foreignization to reduce their Arab culture, and as long as it is already mixed, the country will reap many benefits of globalization. The UAE's economy is expanding. Emerging nations have created a beautiful race for individuals interested in overseas or foreign direct investment (FDI) abroad (Hamdan, 2019). Globalization strengthens a company's distribution channel as well as its economy. The United Arab Emirates has swiftly established itself as a global creative and economic leader. Many trade restrictions have been removed, and the United Arab Emirates currently boasts a free-trade economic system that draws many business people from across the world seeking new goods and markets to target. To summarise, the UAE's tiny, open economy, which has a liberal economic policy and a strong government, must exist to maintain long-term prosperity.

Reference

Al Marzooqi, H.I.A., 2016. Exploring the critical success criteria and factors of adopting technological innovation in the UAE public sectors (Doctoral dissertation, The British University in Dubai (BUiD)).

Al-Jenaibi, B., 2017. Corporate Social Responsibility: Case Study in UAE Organizations. International Journal of Knowledge Society Research (IJKSR), 8(4), pp.85-100.

Alwan, D.A. and Khader, M.A., 2019. Indicators of sustainable development in the performance of the political system of the UAE efforts and initiatives. Tikrit Journal For Political Science, (15), pp.1-27.

BBC (2020) United Arab Emirates country profile, available at: https://www.bbc.co.uk/news/world-middle-east-14703998 (accessed 29 January 2022)

corporate.easyjet.com, 2022. What we do. [online] Corporate.easyjet.com. Available at: <https://corporate.easyjet.com/about/what-we-do> [Accessed 21 April 2022].

Culture of United Arab Emirates - history, people, women, beliefs, food, customs,family, social, dress. 2017. Culture of United Arab Emirates - history, people, women, beliefs, food, customs, family, social, dress. [ONLINE] Availableat: https://www.everyculture.com/To-Z/United-Arab-Emirates.html. [Accessed 22 April 2022]

De Bel-Air, F., 2015. Demography, Migration, and the Labour Market in the UAE.

Elessawy, F., 2018. The Embodied Impact of Immigrant Guest Workers on the Urban Demography of Dubai City. Bulletin de la Société de Géographie d'Egypte, 91(1), pp.28-47.

Government and Political System @ Emirates.org. 2017. Government and PoliticalSystem @ Emirates.org. [ONLINE] Available at: https://www.emirates.org/gov.html. [Accessed 14 October 2017].2

Hamdan, A.M.M., 2019. Entrepreneurship and economic growth: An Emirati perspective. The Journal of Developing Areas, 53(1).

ITA (2022) Digital and Information Communication Technology (ICT), available at: https://www.trade.gov/country-commercial-guides/united-arab-emirates-digital-and-information-communication-technology-ict (accessed 29 January 2022)

Kalaitzi, A.S. and Cleeve, E., 2018. Export-led growth in the UAE: multivariate causality between primary exports, manufactured exports and economic growth. Eurasian Business Review, 8(3), pp.341-365.

Koch, N., 2016. Is nationalism just for nationals? Civic nationalism for noncitizens and celebrating National Day in Qatar and the UAE. Political Geography, 54, pp.43-53.

NotE, E., Demography, Migration, and the Labour Market in the UaE.

OEC (2022) United Arab Emirates, available at: https://oec.world/en/profile/country/are/ ( accessed 29 January 2022)

Sbia, R. and Alrousan, S., 2016. Does financial development induce economic growth in UAE? The role of capitalization and foreign direct investment. International Journal of Economics and Financial Issues, 6(2).

Schilirò, D., 2015. Innovation in small and medium enterprises in the United Arab Emirates. Int'l J. Soc. Sci. Stud., 3, p.148.

Shareefdeen, Z., Youssef, N., Taha, A. and Masoud, C., 2020. Comments on waste to energy technologies in the United Arab Emirates (UAE). Environmental Engineering Research, 25(1), pp.129-134.

Trading Economics (2022) United Arab Emirates GDP, available at: https://tradingeconomics.com/united-arab-emirates/gdp   (accessed 29 January 2022)

Worldometers (2022) UAE Population, available at: https://worldpopulationreview.com/countries/united-arab-emirates-population (accessed 29 January 2022)

Zarrouk, H., El Ghak, T. and Al Haija, E.A., 2017. Financial development, Islamic finance and economic growth: evidence of the UAE. Journal of Islamic Accounting and Business Research.

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