Dubai has been an important port to the Gulf region for many centuries, with trade, especially pearl trade being a central part of life for a large part of its History. The turning point in the history of the city was settlement of members of the Bani Yas Tribe under the leadership desert safari dubai packages of Makhtoum family around 1833, which is generally thought to be the foundation of Dubai. To further cement Dubai's position as a trade port, the rulers of Dubai declared it a duty-free port in the beginning of 20th century.

In the years following the decline of the pearl trade in 1930s it was another item known as black gold that changed the landscape of Dubai. Oil, which is also known as the black gold was discovered in Dubai in 1966 . The revenues stream from oil paced the development of infrastructure in Dubai. The year 1971 saw Dubai together with 5 other Sheikhdoms joined forces and were incorporated into the United Arab Emirates (UAE).

Dubai's romantic relationship with Oil was not to last many years and by the year 1980, the revenues from Oil declined to an all-time lows. This led to a change in the Dubai economy. The rulers of Dubai chose to take advantage of the advantages that they already had to start developing the infrastructure necessary to promote Dubai, once again as a Trading Hub as well as a Business and Tourism Center.

This is the way Dubai is what we call it today was built.

Economy: exemplifying diversity

The rulers of Dubai were always aware that they cannot develop a sustainable business based on their limited oil reserves. Hence, they judiciously started to diversify their economies. Today , the main driver of the GDP of Dubai is "Wholesale, retail trade and repairing services" at 27.2 percent. It is then "Transportation, storage and communication" at 15.8 percent. "Real Estate and Business Services" and "Manufacturing" together contribute more than 25% of Dubai's GDP.

Today Dubai is a popular shopping destination , where shoppers as well as famous people from all over the world are seeking out their favorite brands. Apart from shopping malls, Dubai is a tourist magnet for its theme parks real estate projects such as the Palm Island project and iconic buildings such as Burj Khalifa which is the tallest artificial structure on the planet.

Geography: The Expanding City

Dubai is located in the Persian Gulf and is the second largest emirate after Abu Dhabi. Like many Middle Eastern deserts, Dubai is deserted with daytime temperatures exceeding scorching 400C during summer. Winters are more cosy with temperatures during the day that average 250C. It drops to 12 to 150C in coastal regions.

A unique aspect of the geography of Dubai is the fact that the city is constructing new architectural marvels in its expansion throughout both its Persian Gulf, and the desert.

Businesses in Dubai: the Trade Capital of Middle East

Taxes and laws that are liberal as well as a great infrastructure and connection with the world created a conducive environment for talented professionals and multinationals from various countries to work and live in Dubai. This is the extent of the population that is emigrating to Dubai that the majority of its population is an expatriate. The business sector that is booming in Dubai present day include:

I) Travel and Tourism Industry: This industry directly or indirectly supports nearly 9% of Dubai's total population and will provide more support in the future because of Dubai's growing popularity as a tourist destination.

ii) Real Estate and Infrastructure: Real estate sector in Dubai is growing quickly with new developments being frequently made public. The government is also spending massively on infrastructure, which is helping to sustain the growing economy.

iii) Retail sector: As mentioned above the sector is more important than any other segment in Dubai's GDP and is likely to expand rapidly in the future thanks to an increase in purchasing power, inflow of tourists and the emergence of more multinationals in Dubai.

IV) Banking and financial sector: Better integration of Dubai with the rest of the world , and its great infrastructure has drawn international majors in the banking and financial sector to operate from Dubai.