Oil was discovered in Dubai just over 50 years ago, but only accounts for one percent of its earnings. So, what makes the city of Dubai so rich?
From the 1770s up until the late 1930s, the pearl industry was the main source of income in the Trucial States, which today make up the United Arab Emirates. For residents of the sleepy fishing villages of the Persian Gulf, pearl diving was their humble beginning in trade, but it set the scene for something much larger later on.
Dubai and Abu Dhabi clashed over their borders in the search for oil in the late 1950s, leading to many people moving out of Dubai to other places in the Gulf as the city struggled and Abu Dhabi thrived. In 1958, the ruler of Dubai, Sheikh Rashid bin Saeed Al Maktoum, started investing in infrastructure and completed its first airport in 1960 thanks to loans amounting to tens of billions of dollars.
The move away from oil led to a boost in tourism, and the little oil Dubai eventually discovered in 1966 went towards building the city we know today.
Dubai began shipping oil in 1969 before gaining independence from Great Britain in 1971, when it became one of the UAE’s seven emirates.
As part of Emirates, but with relative independence over its economy, Dubai continued to diversify its revenue stream throughout the 1980s in order to compete with Abu Dhabi’s growing profit from the oil industry.
The city established its first free zone in 1985: Jafza, the Jebel Ali Free Zone, which at 52 sqkm (20 sqmi) is the largest in the world.
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This became a big attraction for global businesses, which today take advantage of the emirate’s 30 free zones that offer tax breaks, custom duty benefits and lack of restrictions for foreign owners.
Several thousand Jafza companies make up 20 percent of foreign investment in Dubai, and the estimated 144,000 employees are generating $80 billion in non-oil money. That’s 21 percent of the city’s Gross Domestic Product (GDP).
The UAE is the third-richest country in the world, below Luxembourg at number two and Qatar at number one, with a GDP per capita of $57,744. The bulk of its money comes from the production of goods and provision of services related to petroleum, petrochemicals, aluminium and cement.
Experience an exhilarating 30-minute jet-ski adventure along the iconic Burj Al Arab, one of Dubai’s most famous landmarks. Glide across the sparkling waters of the Arabian Gulf, feeling the rush of adrenaline as you take in breathtaking views of the stunning coastline. This action-packed ride offers both thrills and relaxation, allowing you to enjoy the luxury of Dubai from a unique, thrilling perspective on a jet-ski. Perfect for adventure seekers!
Burj Khalifa At the Top Observation Deck Admission Ticket
Discover unparalleled views of Dubai with admission to the Burj Khalifa’s At the Top Observation Deck. Ascend the world’s tallest building in a high-speed elevator and take in breathtaking 360-degree panoramas from the 124th and 125th floors. Marvel at the sprawling cityscape, the desert, and the Arabian Gulf in the distance. This unforgettable experience offers a unique perspective of Dubai’s architectural marvels and stunning skyline from an extraordinary vantage point.
Dubai Harbour Super Yacht Experience with Live station & Drinks
Indulge in luxury with the Dubai Harbour Super Yacht Experience, featuring live cooking stations and drinks. Cruise along the stunning Dubai coastline aboard a sleek super yacht, while enjoying gourmet cuisine prepared on deck. Sip on refreshing beverages as you take in breathtaking views of iconic landmarks like the Burj Al Arab and Palm Jumeirah. Perfect for those seeking a lavish, relaxing experience on the water, complete with fine dining and spectacular scenery.
The View At The Palm Jumeirah in Dubai
Architectural Landmark
Stunning Man-Made Island Dubai | Samia_Ansari35 / Shutterstock
Enjoy breathtaking panoramas at The View at The Palm Jumeirah in Dubai. Located 240 meters above the ground, this observation deck offers stunning 360-degree views of the iconic Palm Jumeirah, Dubai Marina, and the Arabian Gulf. Marvel at the architectural wonder of the man-made island and the city’s skyline from an extraordinary vantage point. It’s the perfect spot to experience Dubai’s impressive blend of natural beauty and cutting-edge design from high above.
Explore the architectural splendor of the Sheikh Zayed Grand Mosque on a guided tour in Abu Dhabi. Admire the mosque’s stunning white marble domes, intricate carvings, and expansive courtyards. This masterpiece of modern Islamic architecture is one of the largest mosques in the world and a symbol of cultural harmony. Learn about its rich history, design, and spiritual significance while experiencing the serene beauty and grandeur of this iconic landmark.
Dining Experience at iconic Emirates Palace Abu Dhabi
Savor an unforgettable dining experience at the iconic Emirates Palace in Abu Dhabi. Set in one of the world’s most luxurious hotels, indulge in gourmet cuisine prepared by top chefs in an opulent setting. From exquisite local delicacies to international dishes, every meal is crafted to perfection. Surrounded by stunning architecture, lush gardens, and a regal ambiance, this dining experience offers a taste of refined elegance and unmatched culinary excellence.
Experience the thrill of speed with a Ferrari World entrance ticket in Abu Dhabi. Home to the world’s fastest roller coaster, this theme park offers adrenaline-pumping rides, exciting attractions, and interactive experiences for all ages. Explore Ferrari-themed exhibits, test your driving skills on simulators, and immerse yourself in the world of high-performance racing. Whether you’re a motorsport enthusiast or a family seeking adventure, Ferrari World promises a day of exhilarating fun and excitement.
Half-Day Dubai City Tour with Blue Mosque, Creek, Souks & Abra
Discover Dubai’s rich culture and iconic landmarks on a half-day city tour. Visit the stunning Blue Mosque with its intricate interiors, take a traditional abra boat ride across Dubai Creek, and explore the vibrant Gold and Spice Souks. This tour showcases Dubai’s blend of old and new, from its historical roots to modern architecture. Perfect for visitors looking to experience the city’s cultural heritage and unique charm in just a few hours.
Sharjah City Sightseeing Tour - The Pearl of the Gulf
Explore Sharjah, the cultural heart of the UAE, on the Sharjah City Sightseeing Tour. Known as the “Pearl of the Gulf,” this tour takes you to iconic landmarks like the Sharjah Museum of Islamic Civilization, Al Noor Mosque, and the lively Blue Souk. Discover the city’s rich history, stunning architecture, and vibrant arts scene. This tour offers a perfect blend of cultural exploration and architectural marvels, showcasing Sharjah’s unique charm and heritage.
Experience an extraordinary dining adventure with On Air Dinner in Dubai. Suspended high above the city, enjoy a gourmet meal while taking in panoramic views of Dubai’s iconic skyline. This unique dining experience combines fine cuisine with the thrill of being elevated in the air, offering a memorable blend of adventure and luxury. Perfect for those seeking an unforgettable, sky-high dining experience with breathtaking vistas of the city below.
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