Background Information

I figured as a starting point it would be nice to provide some background on the history of the UAE.

The UAE was founded in 1971, but the roots of the nation go farther back than that.
         In the 16th century, the entire region of the Arabian Peninsula came under the control of Portugal and would remain that way over 150 years. Then, in the 17th and 18th centuries, the area became part of the Ottoman Empire. At this point, and even until the UAE came into being, the area was known as either the Trucial Sheikhdoms or the Trucial States. This is because of the 9 emirates that existed in the area (7 of them being a part of the UAE today). Anyway, during the 19th century, in order to secure a shipping route to India for spices, Britain and the various Sheikhs signed a treaty to protect the shipping route around the Arabian Peninsula and the Persian Gulf from raiders and pirates.
          In the 1960s, the emirates struck it big by discovering oil, making them a very wealthy country. The first shipment of crude oil left the port of Abu Dhabi (the capital of the UAE) in 1962. In 1971 when the treaty between Britain and the emirates expired, the emirates decided to try and form a union containing the 9 sheikdoms. This plan worked for the most part, as 7 emirates joined together to form the United Arab Emirates. The most powerful of these emirates are Abu Dhabi (national capital) and Dubai (financial center).
Since 1990, the UAE has experience a boom in tourism, partly due to Dubai's many attractions, including the world's tallest building, the Burj Khalifa, which is 2717 ft tall. Dubai's buildup of real estate has allowed the country to start moving away from being an oil based economy. During the 2008-2009 financial crisis, however, Dubai took a big hit after the real estate market crash. Many construction projects were cancelled and the property value in Dubai dropped. Despite this, the UAE still pushes for innovation and development.