How Did Dubai Become So Rich
The stunning metropolis of Dubai has captivated the world’s attention for decades. While its iconic skyline adorned with the world’s tallest building has become a symbol of luxury and extravagance, many are left wondering how this opulent destination earned its wealth.
Dubai’s affluent history dates back centuries, and its original settlers were pearl merchants. The city was the perfect spot for the activity since the Persian Gulf was home to many oysters and pearls. As the emirate developed trade and rapidly became one of the most important trading posts of the region, the economy flourished and Dubai experienced sustainable growth.
As time rolled on, the early vision of Sheikh Maktoum Bin Hasher Al Maktoum came to life and they aimed to take advantage of their strategic geographic position and exceptional navigability. This meant investing seriously in growing free trade and tourism. Dubai’s unique vision was to promote free-trade with the surrounding emirates and to create world-class amenities and infrastructure. This brought numerous foreign investors, who launched business-friendly regulations that encouraged investment.
Another major factor that enabled Dubai’s growth was its vast oil reserves. When oil was discovered in the region, Dubai quickly became a rich producer and exporter. As of 2015, it has the sixth-largest proven oil reserves in the world and has proved to be an invaluable asset for the city. The profits from this sector are then wisely invested in other projects, and eventually, Dubai transformed itself into a global player.
To sum up, Dubai has been able to become one of the world’s most affluent cities by taking advantage of its geography and investing heavily in tourism, trade and oil. Dubai has also presented itself as a business-friendly emirate and encourages foreign investment by offering attractive incentives, low taxes and attractive government investment opportunities. These favourable policies continue to attract investors and ensure that Dubai remains one of the world’s richest cities.
A Dubais.blog First Publication.
Don J'osai
Don J'osai is a creative and talented blogger with a passion for sharing his thoughts and experiences with the world. He has always been interested in exploring his multicultural heritage. Growing up, he was exposed to a wide range of cultural influences, which has inspired him to write about issues related to diversity.
After completing his education and obtaining a bachelor's degree in science, J'osai started a career as a freelance writer amongst other things, and soon became a popular blogger, thanks to his unique voice and engaging writing style. He writes on a range of topics, including travel, food, lifestyle, and culture, and has a growing audience of followers who appreciate his perspective and insights.
Through his writing, J'osai aims to promote inclusivity and understanding, and to challenge stereotypes and biases. He believes that blogging is a powerful medium for creating positive change in the world, and he is committed to using his platform to inspire and educate others. When he's not writing, J'osai enjoys exploring new places, trying out new foods, and spending time with his family and friends.
