For centuries, Dubai has served as a key crossroads for global trade. The convenient location of the United Arab Emirates between Europe, Asia, and Africa has positioned this growing city to serve as a major logistical intermediary between many foreign markets. With the development of emerging markets such as China and India, there is a growing opportunity for Dubai to expand its logistical dominance in the modern world economy. The construction of Al Maktoum International Airport, which will become the largest airport in the world, signifies Dubai’s commitment to this growth strategy.
The current Dubai International Airport is capable of processing 4-5 million people each month. Al Maktoum International Airport will have the capacity to more than double this amount by accommodating over 13 million. The airport is expected to become a major destination for large flights on planes such as the Airbus A380 and Boeing 777. While some business travelers and tourists will stop in Dubai, many will pass through on their way to other destinations around the world.
Recently the entire airplane industry came together in Dubai for the Dubai Airshow. Over 56,548 people attended the biggest show in history, which celebrated the 40th anniversary of the United Arab Emirates. Throughout the week there were over $63.3 billion in orders for new aircraft, with roughly one third of that total in a record-breaking $24 billion deal between Emirates Airlines and Boeing.
Dubai has impressed the world with its investment in extravagant pursuits such as Burj Khalifa, the tallest man-made structure in the world. Although its economy was originally built on the oil industry, those revenues now account for less than 6% of national GDP. Solidifying its position as a world economic center, tourist destination, and a world leader for logistics and transportation will firmly position Dubai as a powerhouse in the future of the global economy.