Sheikh Mohammed, the man behind Dubai's success story

At a time when exceptional leaders are in short supply, Sheikh Mohammed bin Rashid Al Maktoum has revolutionized the Dubai economy and has made the city one of the most important players in the world.

He celebrates 10 years today as ruler following his ascension in 2006 and this period has coincided with the unprecedented rise of the Emirate. The struggles of the 2008/09 financial meltdown have long been forgotten. What makes their growth even more impressive is that the city is no longer reliant on petrodollars. His exceptional leadership has also earned the trust of foreign investors who have full confidence in an economy that is heading only one way at the moment, up! A lot of countries and economy who have been so dependent on income from crude oil have been hit hard by the dwindling oil prices. But certainly not Dubai!

Sheikh Mohammed approved Emirate of Dubai budget for 2016 which was 12 per cent more than previous year and will see more than 3,000 job opportunities provided. The budget, which is expected to stimulate economic growth, has a total expenditure of Dh46.1 billion, with an operating surplus of Dh3.4 billion. But most importantly, oil revenue’s contribution will be just six percent. Dubai is no longer dependent on the prices of oil anymore.

The emirate’s diversification strategy is bearing fruit already. The non-oil trade revenue reached Dhs 966 billion during the first nine months of 2015 compared Dhs 480 million for the whole of 2005.

The visionary leadership of the ruler has seen Dubai become the link between major cities and continents of the world. Emirates Airline, flydubai and the Dubai Airports has become world class and this has seen the dubai aviation sector scale new heights in recent years. In the first ten months of 2015, passenger traffic at Dubai International rose to nearly 65 million as compared to 58.411 million recorded during the same period the previous year. The figures are even more amazing when compared to a decade ago when 28.78 million passengers passed through the Dubai International – notching up a staggering growth rate of 126 per cent.

Dubai has also become first choice for individuals who want to relax and visit new places. Tourism rakes in billions yearly for the Emirate and expatriates who come in to work in Dubai and the UAE in general are made to feel comfortable, like Dubai is a second home.

As the ruler celebrates 10 years since his ascension, Dubai is poised to break new grounds and there is a sense that this city is growing at a rate few believed was possible. Sheikh Mohammed is a perfect example of how good leadership could change the lives of its people and chart a new and exciting course for a city.