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Dubai is an international and regional trading hub in the UAE and despite financial woes over the last few years, economic growth looks set to be strong for this glittering desert jewel in 2012. Although this strength was founded partly upon the oil industry, Dubai is also succeeding in the tourist industry, corporate income, international trade, property and investment.
Dubai is a centrally planned free market economy, one built on the oil industry. However, today revenue earned from natural gas and oil actually accounts for less than 6% of the country’s Gross Domestic Product or GDP. Today, this country provides a valuable port for manufacturers from the western world and in fact, the majority of the financial centers and banks are located around the port. With a free trade in gold, Dubai is considered an important hub for gold trade.
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