Title: Importance of Energy Economy for Developing Nations | Economy Watch
Headings: Importance of Energy Economy for Developing Nations
Importance of Energy Economy for Developing Nations
Content: A lot of major companies of the United States of America and the United Kingdom, for example, have come and set up bases in these countries. They have looked to exploit the oil resources of these countries but in turn have provided the country a larger job market by throwing open increased job opportunities. This has enabled the residents of this country to lead a better life. The invested capital from the international sources has been used by these countries to better their infrastructural facilities like making new roads and improving the state of education in the country for example. Important example in this case is the entire gulf region in Asia and the countries worth mentioning in this regard would be the United Arab Emirates and Saudi Arabia. The United Arab Emirates have been able to improve their tourism industry with the help of the money that has been invested by various countries in its oil and energy industry. The emirates of Dubai, Abu Dhabi and Sharjah are the biggest examples. Saudi Arabia has also improved its overall infrastructure with the petro-dollars, as foreign investment in the local oil industry is known. Some examples would be the football stadiums constructed across the country. It has been revealed by researches and studies that out of the entire corpus of products traded all over the world every year, fifty percent or more is taken up by the oil and energy products.