Dubai Economy

The significant presence of ports and natural resources boost the Dubai economy. The ports of Dubai offers flourishing business prospect for western manufacturers. Besides, natural resources like petroleum and natural gas contribute around 3% of the UAE's gross domestic product. The modern banking and financial centres of the city are concentrated in the port area, which add to the economy of Dubai. Dubai had been an important trade route through the 1970s and 80s. Until 1990, Dubai had a free trade in gold encouraging smuggling of gold bricks to India.

Jebel Ali, built in 1970s, has been the biggest man-made harbor in the world and is a chief tourist destination and port in Dubai, boosting Dubai's economy. The port area is gradually growing as a busy hub for service industries including the new Dubai International Financial Centre (DIFC), finance and IT centers. Moreover the rapidly expanding national airline Emirates is also responsible for reinforcing the transport links and economy of Dubai simultaneously.

There are several industry specific free zones set up by the government throughout the city. These economic free zones hugely contribute to the rising financial systems of Dubai. The Dubai Media City and the Dubai Internet city together houses one such enclave consisting IT firms such as Microsoft, EMC Corporation, IBM and Oracle Corporation, and media organizations like CNN, MBC, AP, ARY and Reuters. Dubai government's emphasis to boost the market of foreign industries leads to the creation of Dubai Knowledge Village, a training hub providing education to prospective knowledge workers. The market of Dubai is further heightened by Dubai Outsourcing Zone as the government has offered concessions to set up their offices in Dubai.

Dubai is a prosperous and wealthy city and has a huge contribution to the gross economy of United Arab Emirates.