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the major part of around a $100 billion revenue of the state comes from prosperous areas like real estate, airlines and ports. Oil comprises only seven percent of the total revenue whereas the rest of the income comes from heavy investments in industries and land.
The reason behind the progressive development of the state can be due to the western methods that have been adopted by Dubai rulers. In the early 1980’s, it was understood that Dubai would not be able to last long in the competitive race if the focus was only given to oil resources. Thus foundations were laid for investments in real estate that are now the major backbone of the Arab economy. In the year 2000, the majority of property development started taking place in the vicinity. This gave a fresh impetus to the economy and literally led to a boom.
http://www.therichest.com/rich-list/rich-countries/the-reasons-behind-how-dubai-became-so-rich/
