Why is Dubai so rich? Are they all earned by exporting oil?

In fact, oil can only create economic benefits of about 6% of GDP for Dubai every year. The most important economic sources depend on port freight, import and export trade, tourism and real estate. These are the economic pillars of Dubai. What you can see is the tallest building, the largest shopping center, the best hotel and the largest ski resort in the world.

Trade is the biggest economic pillar in Dubai, followed by logistics, finance and tourism. Jebel Ali Free Trade Zone (JAFZA) is the representative of Dubai's trade characteristics. Among the UAE 10 FTAs, it is the most important and largest FTAs in the Middle East.

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In terms of shipping, the world's major routes exceeding 125 include Rashid Port and Jebel Ali Port in Dubai. Jebel Ali Port is the largest artificial port in the world, with 65 berths and a span of15km. There is a tax-free zone around the port, and foreign-funded enterprises in the zone can own 100% of the ownership, and are exempt from corporate tax and personal tax.

Muhammad once mentioned in his book that in the 1970s, a businessman asked him to stop his father Rashid from building Jebel Ali Port, because the construction cost brought huge economic burden. But the old chief told him that this was a rainy day, because future resources might not be able to complete the project.

After the completion of Jebel Ali Port, it has become one of the top ten busiest cargo ports in the world. With the operation experience of Jebel Ali Port, Dubai has been able to operate more than 60 ports around the world.