Before the economic development, The United Arab Emirates (UAE) was one of the least developed countries of the world. However, at present it has achieved a level of income comparable to that of the most economically developed and industrialized nations. Oil revenues have allowed the country to leap various stages of development and focus on mass consumption which resulted in saving and capital accumulation necessary for its economic development. The country’s authorities has successfully implemented a human development policy, starting from the early 1970s, leading to a long-term economic development in the UAE which followed by industrialization, urbanization and modernization. https://www.confiduss.com/en/i....nfo/blog/article/uae