Dubai is located on the southeast coast of the Persian Gulf and is one of the seven emirates that make up the country. Abu Dhabi and Dubai are the only two emirates to have veto power over critical matters of national importance in the country's legislature.The city of Dubai is located on the emirate's northern coastline and heads up the Dubai-Sharjah-Ajman metropolitan area. Dubai is to host World Expo 2020.
It has emerged as a global city and business hub of the Middle East and South Asia. It is also a major transport hub for passengers and cargo. By the 1960s Dubai's economy was based on revenues from trade and, to a smaller extent, oil exploration concessions, but oil was not discovered until 1966. Oil revenue first started to flow in 1969. Dubai's oil revenue helped accelerate the early development of the city, but its reserves are limited and production levels are low: today, less than 5% of the emirate's revenue comes from oil. The emirate's Western-style model of business drives its economy with the main revenues now coming from tourism, aviation, real estate, and financial services.
It has recently attracted world attention through many innovative large construction projects and sports events. The city has become symbolic for its skyscrapers and high-rise buildings, in particular the world's tallest building, the Burj Khalifa.
Dubai has been criticised for human rights violations concerning the city's largely South Asian workforce. The city's property market experienced a major deterioration in 2008–2009 following the financial crisis of 2007–2008, but is making a gradual recovery with help from neighbouring emirates.
As of 2012, Dubai is the 22nd most expensive city in the world and the most expensive city in the Middle East.In 2014, Dubai's hotel rooms were rated as the second most expensive in the world, after Geneva. Dubai was rated as one of the best places to live in the Middle East by American global consulting firm Mercer.
Dubai Creek Park in Dubai Creek also plays a vital role in Dubai tourism as it showcase some of the most famous tourist attractions in Dubai such as Dolphinarium, Cable Car, Camel Ride, Horse Carriage and Exotic Birds Shows. Dubai has been called the "shopping capital of the Middle East". Dubai alone has more than 70 shopping centres, including the world's largest shopping centre, Dubai Mall. Dubai is known for a city who take retail to the next level of shopping, December 2014 BeSport Bike Shop opened it's door as the biggest Bike Shop in the Middle East. They embrace cycling and focus on healthy living, they don't only sell bikes but also rent Bikes should you be on vacation.
Dubai is also known for the traditional souk districts located on either side of the stream. Traditionally, dhows from East Asia, China, Sri Lanka, and India would discharge their cargo and the goods would be bargained over in the souks adjacent to the docks. Dubai Creek played a vital role in the sustainment of life of the community in Dubai originally and was the setting point which caused the economic boom in Dubai.
As of September 2013, Dubai creek has been proposed as UNESCO World Heritage Site.Many boutiques and jewellery stores are also found in the city. Dubai is also known as "the City of Gold" as Gold Souk in Deira houses nearly 250 gold retail shops.
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