10 Reason:Why Dubai Is So Rich ?

                 10 Reason: Why Dubai Is So Rich?

Everyone wants to know about the Richness Of Dubai, Why And How Dubai is so rich and the reason behind the growth and development of Dubai.

1. Almost everyone knows about the vast expanses of Dubai and its wealth. This city is a part of the United Arab Emirates and known for oil production and export for decades. Most people think that Dubai is rich because of oil wells, but a large part of the state's revenues roughly $ 100 billion comes from rich areas like real estate, airlines, and ports. Oil covers only seven percent of the total revenue while the remaining income comes from heavy investment in industries and land.
2. The government believed that its oil reserves would not always be there and that's why they adopted projects to help Dubai's economy and development.

3. The major part of the wealth actually came from the profits of oil production, but there are no additional industrial streams that play a major and even bigger role in Dubai's wealth.

Real Estate Business

4. The reason for the progressive development of the state can be due to Western methods adopted by the rulers of Dubai. At the beginning of 1980, it was deemed that Dubai would not be able to compete in the long run, if only attention was given on oil resources. In this way, the foundation was set for investment in real estate, which is now the main spine of the Arab economy. In the year 2000, most property developments started to be in the vicinity. It gave a fresh incentive to the economy and literally burst forth.

5. Currently, the largest revenue contributor to Dubai's wealth is from real estate, tourism, and finance. One of the most expensive hotels in the world is found in Dubai, Burj Al Arab.

Tourism-

6. Burj Khalifa (construction cost $ 1.5 billion), is by far the tallest building on the planet and with this, it has increased tremendous revenue for the city in terms of tourism. Then, palm island (construction cost $ 12.3 billion) also took the city's demand to a new level.

7. Dubai is one of the finest cities in the UAE, but it is also the most expensive in the world.

8. The oil and gas industry only makes up about 7% of Dubai's emirate's total revenue. Dubai's oil reserves will be over in 20 years.

Taxation Policy

9. In the year 2000, the world inaugurated the Dubai Internet City. It invited global customers from all the arenas and helped take advantage of Dubai's businesses.

10. The InfoTech Hub was completely tax-free and attracted many investors