It’s the City that Oil Built. It’s always the greatest show on earth when Dubai presents with none anywhere else to compare!
Dubai was first mentioned in 1095, and the earliest settlement known as Dubai town dates from 1799. Dubai was formally established in 1833 by Sheikh Maktoum bin Buti al Maktoum when he persuaded 800 members of the Bani Yas tribe, living in what is now part of Saudi Arabia, to follow him to the Dubai Creek by the Al Abu Falasa clan of Bani Yas. It remained under clan control when the United Kingdom assumed the protection of Dubai in 1892. Its geographical location made it an important trading hub and by the beginning of the 20th century, it was an important port.
In 1966, oil was discovered, expanding the city by 300% and bringing in international oil interests.
Although Dubai’s economy was built on the oil industry, the emirate’s model of business drives its economy, with the effect that its main revenues are now from tourism, real estate, and financial services, similar to that of Western countries.
Dubai has recently attracted world attention through many innovative mega construction projects and sports events. This increased attention has highlighted labour rights and human rights issues concerning its large Indians, which made up half of its total population.
Dubai’s property market experienced a major deterioration in 2008 and 2009 as a result of the worldwide economic downturn following the financial crisis of 2007–2010.
With that in hindsight, the show progresses on . . .