How Did Dubai Develop So Quickly?

By Anna Duncan

Dubai is a city that has undergone tremendous development in recent years. From a small fishing village in the 1960s to a bustling metropolis today, how did Dubai develop so quickly? Let’s take a closer look.

Oil Discovery

In the 1960s, Dubai was a small trading and fishing village with a population of around 60,000 people. However, the discovery of oil in 1966 changed everything. The government invested heavily in infrastructure and development projects to capitalize on its newfound wealth.

Strategic Location

Dubai’s strategic location between Europe and Asia made it an ideal hub for trade and commerce. The government recognized this and invested heavily in developing world-class infrastructure such as ports, airports, and highways to facilitate trade.

Free Trade Zones

To attract foreign investment and businesses, Dubai established several free trade zones offering tax exemptions, 100% foreign ownership, and other incentives. These zones proved to be highly successful in attracting businesses from around the world.

Tourism

Dubai has become a major tourist destination in recent years thanks to its stunning architecture, luxurious hotels, and world-class attractions such as the Burj Khalifa and Palm Jumeirah. The government has invested heavily in promoting tourism and developing new attractions to keep visitors coming back.

Diversification

While oil remains an important part of Dubai’s economy, the government has been working hard to diversify into other sectors such as finance, real estate, and technology. This has helped reduce its dependence on oil revenue and ensure long-term sustainability.

In conclusion, Dubai’s rapid development can be attributed to a combination of factors including its oil wealth, strategic location, free trade zones, tourism industry, and diversification efforts. With ambitious plans for the future including the Expo 2020 and the Dubai 2040 Urban Master Plan, Dubai shows no signs of slowing down anytime soon.