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What resources made Dubai rich?

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Anonymous

10y ago
Updated: 8/21/2022

Dubai, one of the seven emirates of the United Arab Emirates, owes its current riches to tourism, property and financial services. In the past, Dubai's economy was largely based on the oil industry.

A large part of Dubai's success is from its economic free zones. These free zones are designated areas where taxes are very low or nonexistent. Free zones are very attractive to savvy businesses. Indeed, Microsoft, IBM, Oracle, HP, and Nokia all have buildings in Dubai internet City.

Dubai's efforts to change it's economy from an oil-based one to a property based economy have succeeded, so far. The recent economic recession has hurt Dubai badly, and the future of some of its large scale projects are unclear.

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Dorcas Tremblay

Lvl 13
3y ago

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