Analysis Of Dubai : Rags To Riches

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Dubai: Rags to Riches

What was once a small poverty-ridden settlement has now turned into a fully globalized city and business hub of the Middle East, Dubai is the largest and most populated city in the United Arab Emirates (UAE). It has now developed into an economic powerhouse within the past few decades. Dubai’s oil revenue helped escalate the early development of the city, but as of now much of its funds come from real estate, tourism, and construction. Also, Dubai has now emerged as an ethnically diverse metropolis residing of many cultures. According to the GaWC list, Dubai has earned an alpha+ ranking, which is fitting due to its economic prosperity, demographic and cultural traits, political significance and influence, and projected future.

One of the main characteristics that determine the level of globalization a city has reached is the city’s economic affluence. Dubai has transformed dramatically within the last few decades and has one of the fastest growing economies in the world. Towns that were once “mud-walled” communities have molded into “commercial capitals integrated into the global economy”(Staff 2016). Due to finding oil reserves, the UAE gained a thriving economy, making it one of the wealthiest countries in the world. With their economy on the rise, Dubai’s stature as a city in the world went up, making its dominance present. During the 1990s, many foreign trading communities moved their businesses to Dubai, and from there on Dubai has become a

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