UAE National Day 2013 was a cause for celebration



ABU DHABI // Residents had plenty of reasons to celebrate last National Day.

Days earlier, Dubai won Expo 2020, bringing home years of hard work and planning for staff at the centre of the campaign.

The event is part of a tradition of world fairs dating to the 1850s.

A year on and the emirate’s victory still makes people across the UAE proud. Of those questioned, the vast majority (85 per cent) believe the Expo 2020 win is good for the UAE’s image.

This is especially true for Emiratis and respondents residing in Abu Dhabi.

“The Expo 2020 is sure to have a good effect on the country and the people who live here,” says Zayed Al Falasi, a 31-year-old Emirati who works for the government and lives in Abu Dhabi.

“Others will come to know that UAE is much more than a desert.”

Citizens and residents hope that Expo 2020 will mean investment and opportunities for all, the survey says.

“The Expo 2020 will change things as it will be a great boost,” says Jamie Derit, 25, a Filipino, who has been living in Abu Dhabi for the past four years. “There will be more opportunities for Emiratis and expatriates, as companies will invest here.”

Jamal Iqbal, a 35-year-old creative director living in Dubai, agrees. “If the UAE is focused on planned growth and development not limited to real estate and tourism, Expo 2020 can mean increased self-sufficiency and a shift from import to production.”

Lara Al Barazi says the results show how the success of one emirate has a ripple effect on the others.

“This comes to prove the strong bond between all emirates, especially Abu Dhabi and Dubai, where Abu Dhabi residents clearly demonstrated that one emirate’s success is beneficial to the entire country,” she says.

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The most expensive investment mistake you will ever make

When is the best time to start saving in a pension? The answer is simple – at the earliest possible moment. The first pound, euro, dollar or dirham you invest is the most valuable, as it has so much longer to grow in value. If you start in your twenties, it could be invested for 40 years or more, which means you have decades for compound interest to work its magic.

“You get growth upon growth upon growth, followed by more growth. The earlier you start the process, the more it will all roll up,” says Chris Davies, chartered financial planner at The Fry Group in Dubai.

This table shows how much you would have in your pension at age 65, depending on when you start and how much you pay in (it assumes your investments grow 7 per cent a year after charges and you have no other savings).

Age

$250 a month

$500 a month

$1,000 a month

25

$640,829

$1,281,657

$2,563,315

35

$303,219

$606,439

$1,212,877

45

$131,596

$263,191

$526,382

55

$44,351

$88,702

$177,403

 


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