Dubai’s gross domestic product as of 2006 was US$46 billion. Although Dubai’s economy was built on the back of the oil industry, revenues from oil and natural gas currently account for less than 3% of the emirate’s revenues.

It is estimated that Dubai produces 240,000 barrels of oil a day and substantial quantities of gas from offshore fields. The emirate’s share in UAE’s gas revenues is about 2%. Dubai’s oil reserves have diminished significantly and are expected to be exhausted in 20 years. Historically, Dubai and its twin across the Dubai creek, Deira (independent of Dubai City at that time), became important ports of call for Western manufacturers. Most of the new city’s banking and financial centres were headquartered in the port area. Dubai maintained its importance as a trade route through the 1970s and 1980s. The city of Dubai has a free trade in gold and until the 1990s was the hub of a “brisk smuggling trade” of gold ingots to India, where gold import was restricted. Dubai is an important tourist destination and its port, Jebel Ali, constructed in the 1970s, has the largest man-made harbor in the world. Dubai is also increasingly developing as a hub for service industries such as IT and finance, with the establishment of a new Dubai International Financial Centre (DIFC). The government has set up industry-specific free zones throughout the city. Dubai Internet City, combined with Dubai Media City as part of TECOM (Dubai Technology, Electronic Commerce and Media Free Zone Authority) is one such enclave whose members include IT firms such as EMC Corporation, Oracle Corporation, Microsoft, and IBM, and media organisations such as MBC, CNN, Reuters and AP. The Dubai Financial Market (DFM) was established in March 2000 as a secondary market for trading securities and bonds, both local and foreign. As of Q4 2006, its trading volume stood at about 400 billion shares worth US$ 95 billion. The DFM had a market capitalization of about US$ 87 billion. The government’s decision to diversify from a trade-based but oil-reliant economy to one that is service and tourism-oriented has made real estate more valuable, resulting in the property appreciation from 2004–2006. Large scale real estate development projects, undertaken by firms such as Emaarskyscrapers in the world such as the Emirates Towers, the Pentominium and the world’s tallest hotel, the Burj Al Arab. As of July 2007, Burj Dubai -also being constructed by Emaar Properties- is already the world’s tallest structure and is expected to be taller by several hundred feet, once construction is complete. Properties, have led to the construction of some of the tallest Recently, the Land Department set up the Real Estate Regulatory Authority (RERA) to regulate developers and safeguard consumers from errant parties. All developers are required to register with the RERA, provide documents and verifiable facts about their properties, and setup escrow accounts to protect consumers’ money. KM Properties, a member of KM Holding, was the first company to register with the Land Department. Organizations within Dubai have expressed an intention to invest in medical tourism, including the Emaar group’s plans in India. Within Dubai, there is considerable interest in developing this market, and the Dubai Healthcare City is scheduled to open by 2010.. There will be a corresponding increasing need for attention to quality and to quality control in healthcare within Dubai, including international healthcare accreditation.Moving to dubai consult 1Dubai propertyLeading neutral advice when considering property.

This natural seawater inlet divides the city of Dubai in to two parts, Deira Dubai and Bur Dubai. The Creek has a long established tradition for its ancient sea routes that lead as far as India and the East African Coast. The Creek was also the heart and soul of the city of Dubai as it was built around this important trading route. Due to its strategic importance to the city it was deepened to allow for larger vessels and as a result more commerce in the 1970’s. Today the Creek is still a vibrant port and vital part of the city of Dubai.

At the end of the inland side of the creek lies a bird sanctuary that is home to over 27,000 birds. In addition a host of boutique hotels, golf courses, and yachting clubs have sprung up along the creek’s banks which give visitors a wide variety of other activities to engage in once they have finished soaking in the sights from the Dubai Creek.

Visitors to the city of Dubai should not miss the opportunity to sail the waters of the beautiful creek. Guests can rent an “abra”, which is a small water taxi that can be used to traverse the creek and will provide opportunities to see much of Dubai’s sights, modern and old as well as the numerous dhows (sailing ships) that travel to and fro on the creek. An hour long trip from the abra embarkation point to the Maktoum Bridge will reveal much of the cities historic sights.

In the night, a special romantic cruise abroad a traditional wooden dhow is available. Traverse the route and gaze upon the various landmarks of Dubai city as they are silhouetted in the moonlight while the wooden vessel slips quietly through the night. Doing so will reveal the past and present architecture that is married together in the city of Dubai. This unforgettable romantic evening cruise also includes a buffet dinner along with a variety of other edibles and beverages. In addition the tour usually involves entertainment such as traditional Arabic music and a belly dancer. It is even possible to rent out half or even the entire ship to make the setting even more romantic.

Staying near the Creek is also ideal as it looks beautiful when viewed from another perspective. Numerous Dubai hotels lie in the area which makes getting to the Creek easy. The city is also a haven for tourists and if absolute comfort is your requirement there are an assortment of Dubai luxury hotels that are located in this key area of the city.

Dubai is the second largest of the emirates comprising the United Arab Emirates. It was established in the late 1950’s to serve a tiny coastal settlement. Today, Dubai is a modern metropolis with a population of over 700,000. It offers its citizens the finest in modern comforts. It is known internationally as a premier tourist destination.

Dubai has something for everyone, from vacationers seeking a relaxing break away from the pressures of work, to active tourists looking for a new, exciting experience. The emirate is an international conference, exhibition, and leisure travel destination. Dubai has a seemingly endless variety of unique vacation opportunities! Some of the highlights are desert safaris, dune driving; exploring wadis (dry river beds)
in four-wheel-drive vehicles; sand-skiing; moonlit Arabian desert barbecues, complete with traditional entertainment; camel racing, horse racing and falconry; cruises in wooden dhow on Dubai Creek or into the Gulf; exploration of the old city souks (markets) and creekside dhow quays. Photographic possibilities include traditional architecture; majestic mosques, magnificent palaces, camel and goat herds, ancient wind towers, dusty Bedouin villages, lush oases and palm groves, and dramatic sunsets.

The best time of the year to visit Dubai is between November and April, when the weather is coolest. Ramadan, which takes place at a different time each year on the western calendar, is the Muslim month of fasting and is strictly adhered to throughout the UAE. That means that it’s illegal, not to mention rude, to eat, drink or smoke in public from sunrise to sunset during your stay While Dubai’s official language is Arabic, many people speak English, particularly those who are in business or commerce.

Dubai is an incredible place to shop. You can explore everything from modern shopping malls to traditional souks to markets. As a result of Dubai’s low custom duties, goods purchased in Dubai may be less expensive than goods purchased in other countries. For great shopping experiences, try to visit Bur Juman Centre and Al Ghurair Centre.