Secrets of Dubai's economic miracle over the past 50 years

2024 Author: Seth Attwood | [email protected]. Last modified: 2023-12-16 15:55

Despite the fact that the history of Dubai is more than 5 thousand years old, but over the past half century, from a poor settlement, it has turned into an ultra-modern metropolis. Those who think that the once tiny fishing village achieved its financial health thanks to the discovered oil are deeply mistaken. If black gold became a good impetus for the start of development, the secrets of such a rapid economic miracle lie in something completely different.

1. History of Dubai

5 thousand years have passed since the time when the first tribes settled on the territory of modern Dubai, but only the last decades have exalted it to unprecedented heights. Even at the beginning of the last century, it was a small village, whose inhabitants hunted for pearls and somehow made ends meet.

After Japan invented a method of artificially growing pearls, this source of livelihood disappeared as well. And then Sheikh Said (1878-1958) made the decision to create a port, which became that saving straw that led to an unprecedented economic growth, which helped turn this region into one of the richest sheikhs of Treaty Oman. Over time, the port in Dubai became the largest commercial harbor in the Persian Gulf of the Arabian Peninsula.

Help from Novate. Ru:Treaty Oman (Trucial Oman) - in the XIX-XX centuries. was the union of the sheikhs of the southern coast of the Persian Gulf, which was under the protectorate of Great Britain. He was the forerunner of the UAE unification.

2. New history of Dubai

Despite endless confrontation with the neighboring emirate of Abu Dhabi (hostilities lasted from 1947-1979), thanks to wise government and the development of re-exports, Dubai began to rise. But an incredible leap was achieved almost overnight. This happened when, in order to improve the life of the population, collector mains began to be built on its territory and oil was discovered.

The year 1966 can rightfully be considered a new rapid milestone in the history of Dubai. In literally 7 years of skillful leadership of the government of Sheikh Rashid ibn Said al-Maktoum, not only the mining of black gold began, but also an inflow of investments, labor, and, accordingly, the population and money began.

3. Start of progress

As it turned out, there is not so much oil on the territory of Dubai - only 5% of all reserves of the Emirates and it will not be possible to flourish on them for a long time. It was then that the government began to develop parallel paths to generate income.

To begin with, they created the artificial deep-water harbor of Jebel Ali, which is still considered the largest in the world, and equipped the port of Rashid, which has turned into a huge transport hub. At the same time, the largest dry dock and the World Trade Center of the free economic zone were built. All these components like a magnet attracted a significant flow of foreign investment and made it possible to develop the economy even more.

4. Air transportation

The government of the emirate did not stop at the creation of the largest sea harbor, an airport was being built in parallel, and in 1985 the airline Emirates entered the world arena, which still does not give up its positions. The airport itself, located in the Al-Garhud area, deserves the term "mega" for a reason.

It was expanded several times, and each terminal was so improved that over time not only a comfortable transit zone was decorated, but also a business center, conference rooms, bars, restaurants, lounges, a five-star hotel, a duty-free shopping center, a health club, a play area for children and even a medical center and prayer rooms. And considering that at the moment the passenger traffic is 88 million people a year, it is not difficult to imagine what kind of money goes through the treasury.

5. Tourism and recreation

Given the location of the emirate, the enterprising government decided to use the sea surface not only for cargo transportation, but also for organizing resorts and developing the tourism business.

Nobody skimped on the creation of high-class resorts, restaurants and entertainment centers, because all this splendor was designed for wealthy tourists who came for new experiences and relaxation. By the time when the wealthy people rushed to the resorts and shopping so fashionable among the elite, the authorities introduced a ban on drinking alcohol in public places. The law redirected alcohol lovers to restaurants and Duty Free, and from there money flows like a river into the treasury, which allows other projects to be implemented.

So, for example, the 7-star Burj Al-Arab hotel was created in the form of a sail of a dhow (an Arab ship), opened in 1999. Since there is no free territory on the coast, for the sake of the implementation of this project, an artificial island was created in the middle of the waters of the Persian Gulf and connected with a 280-meter bridge for direct communication with the land.

Take a look at the luxurious Hydropolis Undersea Resort with its fantastic rooms, restaurants, bars, conference rooms, art gallery, plastic surgery clinic and more. Or the construction of a giant amusement park for children and a professional training center for athletes Dubailand, which, when completed, will occupy an area equal to … the Principality of Monaco.

But the most ambitious is the construction of the Burj Khalifa tower, whose height reaches 818 meters and is currently considered the tallest building in the world.

6. Development of sports

In the 50s of the last century, the whole city looked like this, and now only the Meydan Racecourse (Dubai). foto-history.livejournal.com/ tournavigator.pro.

Investing in the development of sports, you can also make good money, Dubai is proof of this. The government of the emirate did not skimp, and as a result, it is here that the most expensive races in the world, the Dubai World Cup with a prize fund of $ 4 million, the Abu Dhabi Formula 1 Grand Prix, the world series of rugby competitions, the international triathlon competition The Sand Pit are held., golf championship, camel racing, falconry and other equally stellar events.

A changeable world dictates its own rules and fashion, so some places on the planet are difficult to recognize after a couple of decades. Metamorphoses are especially noticeable with the most iconic and popular man-made landmarks. Most of them had a completely ordinary look and did not stand out in any way, but the ambitions of the authorities and the titanic efforts of the population of some cities and even countries transferred their offspring to the category of the best.