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Oil is still the big moneymaker... but it's running out in approximately 9 years.
On the surface it looks as if they are focusing on tourism, but the end game is that they are trying to become the financial/business hub of the middle east.
Did you know that they have mini cities dedicated to specific business markets? For instance there's Dubai Media City for film & video production projects, Internet City for the obvious... tons of major companies have already set up shop there. IBM, Microsoft etc.
There's no tax on the earnings there so companies usually operate their Dubai branches as a separate company.
Money is easy to find there as well. There's more investment capital per square foot in Dubai than any place in the world.
I had an office there for a while. I didn't spend a lot of time there but every time I was in town it was a whirlwind of business like nothing I have ever seen. Coming from a New York resident that's a big statement.
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I've trusted my sites to them for over a decade...
Webair, bitches.
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