History
Dubai was known for its pearl exports until the 1930s but due to the world war and depression era this industry dissipated.
There were some border disputes after the formation of the U.A.E.
Electricity, telephone service, and the airport were established in Dubai in the 1950s.
The British moved their local administrative offices from Sharjah to Dubai.
The town joined the newly independent country of Qatar and set up a new monetary unit, the Qatar/Dubai Riyal after the deflation of the Gulf rupee.
Oil was discovered in Dubai, in 1950, after which the town granted concessions to international oil companies.
The discovery of oil led to a massive influx of foreign, mainly Indian and Pakistani workers, into the city. As a result, the population of the city grew by over 300% from 1968 to 1975.
On December 2 ,1971 Dubai together with Abu Dhabi and five other Emirates, formed the United air of Emirates, after former protector Britain left the Persian Gulf in 1971.
In 1973, Dubai joined the other Emirates to adopt a single, uniform currency: the UAE Dirham.
In the 1970s Dubai continued to grow from revenues generated from oil and trade.
The Jebel Ali Free Zone, comprising the Jebel Ali port (the world's largest man-made port) was established in 1979, which provided foreign companies unrestricted import of labor and export capital.
Dubai has used its oil revenue to gain capital for the creation of a trade and manufacturing infrastructure, alongside a booming tourist industry. If Dubai had relied on its oil reserves to spend freely without putting any money into developing other industries, the country would now be in serious trouble, as oil and gas reserves were small. Now, nearly 90% of Dubai's revenue is not oil-based. Dubai’s success is based on vision and using the resources to create a brighter future.
The emphasis is on trade, just as it was at the end of the nineteenth century. In addition it is focusing on modern industries like the media. Dubai Internet City was built and attracted over 200 firms in just a few years.
A glance at the city's many building projects makes it clear just how fast it is still expanding.
There were some border disputes after the formation of the U.A.E.
Electricity, telephone service, and the airport were established in Dubai in the 1950s.
The British moved their local administrative offices from Sharjah to Dubai.
The town joined the newly independent country of Qatar and set up a new monetary unit, the Qatar/Dubai Riyal after the deflation of the Gulf rupee.
Oil was discovered in Dubai, in 1950, after which the town granted concessions to international oil companies.
The discovery of oil led to a massive influx of foreign, mainly Indian and Pakistani workers, into the city. As a result, the population of the city grew by over 300% from 1968 to 1975.
On December 2 ,1971 Dubai together with Abu Dhabi and five other Emirates, formed the United air of Emirates, after former protector Britain left the Persian Gulf in 1971.
In 1973, Dubai joined the other Emirates to adopt a single, uniform currency: the UAE Dirham.
In the 1970s Dubai continued to grow from revenues generated from oil and trade.
The Jebel Ali Free Zone, comprising the Jebel Ali port (the world's largest man-made port) was established in 1979, which provided foreign companies unrestricted import of labor and export capital.
Dubai has used its oil revenue to gain capital for the creation of a trade and manufacturing infrastructure, alongside a booming tourist industry. If Dubai had relied on its oil reserves to spend freely without putting any money into developing other industries, the country would now be in serious trouble, as oil and gas reserves were small. Now, nearly 90% of Dubai's revenue is not oil-based. Dubai’s success is based on vision and using the resources to create a brighter future.
The emphasis is on trade, just as it was at the end of the nineteenth century. In addition it is focusing on modern industries like the media. Dubai Internet City was built and attracted over 200 firms in just a few years.
A glance at the city's many building projects makes it clear just how fast it is still expanding.