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Virtually 60% of the Emirates’ GDP derive from foreign capital investments income. Full version

History of Dubai is a good example of human progress in harsh environmental nature conditions. Looking at the splendor of modern Dubai one cannot believe that half a century ago here was arid desert with a small settlement, where inhabitants were engaged in maritime trade, pearl fishery and fishing. Today this Arab city is a symbol of luxury, wealth and the most advanced technologies. There is no other city in the world that could compete with Dubai in terms of sophistication and style. And among locals there is even a saying: "We wanted the best, but it turned out many times better".

From ancient to modern times

The city’s name comes from the word "dubai" - diminutive derived from the word "dibba". In Arabic it means the name of young locusts that used to breed on the territory of Dubai.

As evidenced by findings discovered during archaeological excavations, the first settlements on the territory of modern Dubai existed about 7000 years ago in the Bronze Age. In 5-7 century it was already a small village through which ran a trade route between the cities on the territory of modern Iraq and Oman.

For several centuries Dubai had been only a small village, the inhabitants of which were barely making their ends meet, suffering from 40-degree heat, constantly lacking food and fresh water. However, despite difficulties, the settlers continued to grow dates, breed camels and conduct maritime trade. In the early 20th century, Dubai occupied the area of 1 km to 3 km and constituted a seaport, and was home to only 10 thousand inhabitants.

Fundamental changes in the history and development of Dubai occurred after 1966 when deposits of "black gold" were discovered on its territory. Since that time a whole new life began for inhabitants of the city and the state. Thanks to income derived from the sale of oil, Dubai has turned into ultramodern metropolis that is attractive not only for its luxury and abundance of high-tech, but also for its true oriental charm.

In addition to oil industry construction, other industries such as tourism and trade are also actively developed in Dubai. Only Shanghai is outperforming Dubai in terms of construction; in terms of tourist destination it is one of the most popular places in the world. Dubai conducts trade with 140 countries, and it is also a transit point for many international companies carrying on trading activity with the West and the East.

Modern Dubai is the fastest growing city in the world. Sometimes it is compared to Miami and Las Vegas, it is impossible to fully describe in words the style and beauty of this city. The country is known for its practically zero crime rate, advanced health care system and medicine. Dubai is impressive for its beautiful skyscrapers, artificial islands, dancing fountains, entertainment parks and other sightseeing.

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