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BTW, it hasn't got everything to do with oil.
Dubai has one of THE most forward governments that this world has ever seen.
Local businesses - Tax Free.
Foreign Businesses - Tax Free in the 'Tax Free Zone', for $X per year. If your company is big enough - anything over the cost to be in the TFZ is pure profit. Did you know that Panasonic UAE exists in the TFN - goods come from the manufacturers in China etc, land in Dubai, the price gets raised 30% to retail cost, and that 30% is pure profit. Not a bad deal!
The government also setup 'Internet City' and 'Media City' - which are literally that - cities dedicated to media and internet. If you're a company looking to get setup seriously in tech, you go there, they set you up for free.
Until about 1.5 years ago, if you were foreign (and 80% of the population is) - you couldn't freehold land - you had to rent from the government. Now, in some places / emirates you can freehold - which created another massive $ boom for the government.
The vast wealth of the Sheiks and government comes partly from oil, yes, but a very, very large chucnk of it is from how they setup their country.
Another interesting note - crime rate is 0, or there abouts. It's one of the safest places in the world.
I expected BIG things when I went to Dubai, but was BLOWN AWAY when I got there.
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