The World Cup is held in Dubai tonight, and I heard that Dubai has built a city in order to hold this World Cup, and this time people have once again focused on this local city.
Dubai is the economic and financial centre of the Middle East and a major passenger and cargo hub in the world.
Most of the impressions are Arab tycoons, Lamborghini walking in the land, Burj Al Arab, Burj Khalifa, The Palm, etc. These are all synonymous with luxury,
It attracts a large number of tourists from all over the world every year and is known as the "Golden Capital".
But did you think that in the 1950s, Dubai was just a poor fishing village without electricity?
The reason why Dubai is prosperous today is that many people owe it to oil, but in fact, Dubai discovered oil in 1966, but it only rose in the past two or three decades.
In the 1990s, Dubai was still a small transparent and dependent on livestock, fishing and pearl mining.
Dubai is changing rapidly, and oil is not the main reason.
So how did Dubai rise?
An introduction to Dubai
Dubai is not actually a country, but one of the seven emirates of the UAE. It is just one of the seven emirates of the United Arab Emirates, the capital and most populous city of the Emirate of Dubai.
As the economic hub of the United Arab Emirates, Dubai has become a global city and a major passenger and freight hub in the world.
Geography of Arabia
Dubai is located in the middle of the Arabian Peninsula, on the southern shore of the Arabian Gulf, southwest of the Persian Gulf, Sharjah, and northeast of Abu Dhabi. Dubai has a subtropical climate, with temperatures above 45°C in summer (April to October) and small sandstorms in local desert areas.
Such a harsh environment, to develop, it is simply difficult to ascend to the sky!
The 19 years from the financial collapse of 1926 to the Second World War in 1945 made Dubai's economy even worse.
However, there is no way to go.
In the 1960s, Dubai's economy began to move towards trade and small-scale oil exploration began. Oil was discovered in 1966 and began exporting oil in 1969. Oil revenues accelerated Dubai's early urban development, but oil reserves are limited and production is not high, and the current economy is driven by capital investment and tourism, trade, services, etc., with oil revenues accounting for less than 5%.
Dubai recognized early on that oil is a non-renewable resource, and Dubai's oil reserves have declined significantly and are expected to be exploited for only another 20 years. The Dubai government does not want to rely on its small oil stocks, so it is committed to diversifying the economy, vigorously developing business and stimulating corporate activities to increase revenue streams.
As a result, real estate and construction (22.6%), trade (16%), entrepot (15%) and financial services are the most important sectors of Dubai's economy. Many of the city's new financial centers were located in the port area, which became an important trading center in the 1970s and 1980s.
Today, Dubai's Jebelari Artificial Port is not only an important tourist attraction and port, but also an important industrial center for information technology and finance, and will be home to the Dubai International Financial Centre (DIFC). Founded in Dubai in 1985, Emirates International Airlines is located at Dubai International Airport and carried 12 million passengers in 2005.
Dubai Airport is one of the most important air transit points in the Middle East. The oil economy now accounts for only a small part of Dubai's economy.
Since 2000, the Dubai government has embarked on large-scale construction and planning, which has not only increased the popularity of Dubai real estate, but also made Dubai one of the fastest growing cities in the world.
However, Dubai also faces many difficulties and challenges, such as sandstorms, water scarcity, labor shortage, etc., so after the Dubai Expo, Dubai began to focus on developing innovative industries, improving the quality of life and retaining talent.