Feasibility Study to explore the potential viability of a business in Coursework

Feasibility Study to explore the potential viability of a business in the UAE - Coursework Example Feasibility Study to explore the potential viability of a business in the UAE Essentially a feasibility study intended to explore the viability of a business idea or entity involves various considerations.The intended feasibility study revolves within the tourism industry. This paper intends to consider venturing in hospitality section in one of the Emirates in the United Arab Emirates (UAE). This is a service industry that will offer all the hospitality services in a 3- star hotel, particularly to tourists both home-based and international (NEYADI, 2002). Hospitality industry in the UAE is one of the competitive ventures. Both the local and global investors have for the past decade invested in this industry, and have continued to sustain the market trends in service delivery and client satisfaction. United Arab Emirates The coverage and vastness of how much the United Arab Emirates has developed in almost all sectors of economy, primarily in the last decade is consummate, even ahead of the global standards (MAHMOUD, 2012). This incredible growth in political, social and economic sectors has put the United Arabs Emirate in the international chart as one of the cutthroat commercial centers in the world. The UAE is situated in the East of the Arab globe. It stretches to the Gulf of Oman and to the North of the Arabian. UAE has an area of 83,600 km2. The area has plentiful islands. Sand dunes, isolated oases, and extensive deserts characterize the region. Abu Dhabi is the largest of the Emirates. It has an area of 67,300Km2, followed by Dubai with 3,900Km2 and Sharjah occupy an area of 2,600 Km2 (NEYADI, 2002). A federation of seven Emirates formed the United Arab Emirates in 197. The emirates include Sharjah, Ras Al Khima, Dubai, Ajman, Abu Dhabi, Fujairah and Umm Al Quwain. The political structure The UAE observes distinctive leadership. It has no legal political parties. The supreme power rests with the seven heritable Emirs sheikhs. The President who is the commander in chief heads the Armed forces. The prime minister heads the defense ministry and he is the ruler of Dubai. Rulers administrate the other emirates. The Federal National Council, which was formed in 1972, is the UAE parliament (MAHMOUD, 2012). The FNC is presumed as the milestone of the federation’s legitimate and legislative process. The FDC is accountable in advising the cabinet arm of the government and the supreme council. However, the FNC has no jurisdiction to take precedence over the arms’ decisions. The principal function of the council is to offer administrative and lawmaking roles as stipulated by the constitution. The UAE was founding associate of the (GCC). The Gulf Cooperation Council (GCC) members include UAE, Qatar, Bahrain, Saudi Arabia, Kuwait and the Sultanate of Oman. This kind of leadership has continually provided a stable political environment, which is conducive for investments. Economic trend Political stability has contributed immeasurably to the economic growth attributed to primary sectors of the economy. Some of these sectors include tourism, agriculture oil and gas. The UAE’s GDP has continually grown due to the unremitting political stability (MAHMOUD, 2012). The consequent economic stability is the significant factor for both home and global investors. It is essential to note that, the projected 3-star hotel and resort stands a better position in developing at a high rate due to the well- established financial backdrop based on sound economic ethics under the management of sound institutions (NEYADI, 2002). The social patterns in relation to the UAE population The UAE’