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Why Dubai is so rich?
Dubai is a famous city located in the United Arab Emirates (UAE). It is one of the wealthiest cities in the world and has become a major global business hub. So, what makes Dubai so wealthy?
First and foremost, oil plays an important role in Dubai’s wealth. Oil and gas account for almost 70% of its GDP, and the majority of its exports. In addition, pro-business policies, low taxes, and a competitive business climate have helped attract foreign investment to the city.
Finally, Dubai has become a major global trading hub. It is home to the world’s busiest international airport, and it has become a major port for goods being shipped in and out of the Middle East. This has helped to facilitate global trade and attract new businesses and investments.
In summary, Dubai’s wealth is derived from its oil industry, favorable business policies, and its role as a major global trading hub.
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