Yesterday, UK Chancellor Rachel Reeves unveiled her country’s budget for the next financial year. She did so amid a continuing national conversation about quality of life in contemporary Britain. Part of that dialogue has concerned the ebb and flow of people moving between the UK and the UAE, a trend scrutinised in an Ipsos poll commissioned this week by The National. What it revealed was interesting, especially in light of Ms Reeves’s claim in 2023 that “globalisation, as we once knew it, is dead”.
The demise of globalisation has been predicted before. However, although the phenomenon’s features may have changed from its high-water mark in the late 1990s and early 2000s, it is far from done. The persistent success of trans-national companies, the role of global capital and supply chains, as well as the connectivity inherent in the new AI era all mean the world remains a place of international markets and the movement of people seeking a better life.
Many characteristics of UK-UAE migration point to what could be called “globalisation done right”. Yes, employment and personal income is a strong pull factor for many Britons on the move; almost eight out of 10 respondents to the Ipsos poll agreed or strongly agreed that the UAE offers strong career opportunities. But more money in one’s pocket is just part of an emerging narrative revealed by this polling data. We are seeing an evolving social trend that is far removed from the caricature of the Emirates as a sun-drenched, low-tax destination for the rich.
For many of those coming to the UAE, upward mobility and job opportunities – although important – are not the whole story. One of the most significant draws across nearly all the demographics surveyed was family life, with the Emirates widely regarded as a great place to raise children. Safety, education and overall lifestyle were repeatedly linked to this perception. Beyond these factors, the tolerance that underpins the UAE’s multi-cultural society has fostered a stable country that is bucking the trend of polarisation and rancour seen in other parts of the world.
The significant changes that have taken place in the UAE’s legal landscape in recent years have helped make new arrivals think and plan in concrete terms about their futures
A thread running through the results of this week’s is upward mobility or, in other words, people’s future. This points to a broader narrative, one that shifts away from nostalgia to ambition coupled with a vision for long-term stability and growth. The significant changes that have taken place in the UAE’s legal landscape in recent years – including long-term residency, civil marriage, property rights as well as comprehensive health and unemployment insurance – have helped make new arrivals to the country think and plan in concrete terms about their future and that of their families.
What makes a good life differs from person to person. For some, it is job prospects and higher salaries. But as this new data shows, for most people it is a complete package: improved finances but also safety, a harmonious environment and a humane society. These are the ingredients needed for a globalisation that moves beyond the merely financial and towards a truly global community, rooted in respect for history and culture. The UAE is providing a glimpse of what that future could look like.
Who was Alfred Nobel?
The Nobel Prize was created by wealthy Swedish chemist and entrepreneur Alfred Nobel.
- In his will he dictated that the bulk of his estate should be used to fund "prizes to those who, during the preceding year, have conferred the greatest benefit to humankind".
- Nobel is best known as the inventor of dynamite, but also wrote poetry and drama and could speak Russian, French, English and German by the age of 17. The five original prize categories reflect the interests closest to his heart.
- Nobel died in 1896 but it took until 1901, following a legal battle over his will, before the first prizes were awarded.
The candidates
Dr Ayham Ammora, scientist and business executive
Ali Azeem, business leader
Tony Booth, professor of education
Lord Browne, former BP chief executive
Dr Mohamed El-Erian, economist
Professor Wyn Evans, astrophysicist
Dr Mark Mann, scientist
Gina MIller, anti-Brexit campaigner
Lord Smith, former Cabinet minister
Sandi Toksvig, broadcaster
Company%20profile
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What is blockchain?
Blockchain is a form of distributed ledger technology, a digital system in which data is recorded across multiple places at the same time. Unlike traditional databases, DLTs have no central administrator or centralised data storage. They are transparent because the data is visible and, because they are automatically replicated and impossible to be tampered with, they are secure.
The main difference between blockchain and other forms of DLT is the way data is stored as ‘blocks’ – new transactions are added to the existing ‘chain’ of past transactions, hence the name ‘blockchain’. It is impossible to delete or modify information on the chain due to the replication of blocks across various locations.
Blockchain is mostly associated with cryptocurrency Bitcoin. Due to the inability to tamper with transactions, advocates say this makes the currency more secure and safer than traditional systems. It is maintained by a network of people referred to as ‘miners’, who receive rewards for solving complex mathematical equations that enable transactions to go through.
However, one of the major problems that has come to light has been the presence of illicit material buried in the Bitcoin blockchain, linking it to the dark web.
Other blockchain platforms can offer things like smart contracts, which are automatically implemented when specific conditions from all interested parties are reached, cutting the time involved and the risk of mistakes. Another use could be storing medical records, as patients can be confident their information cannot be changed. The technology can also be used in supply chains, voting and has the potential to used for storing property records.
