How Dubai Evolved from Oil

Dubai gained most of its wealth after Oil was discovered off the coast in the 1960's. After decades of oil extraction, Dubai began to realize that the oil would not last forever, so they made a plan. A plan to completely transform the city into a modern day tourist destination. So over the next 2 decades, Dubai began its transformation and became what it is today.
In 2009, 85% of the United Arab Emirates economy was based on Oil exports, but in 2021, its down to just 30%. Dubai proved to the world that they could transform themselves into one of the most popular tourist destinations in the entire world.
Dubai is a city in the United Arab Emirates. Dubai is home to the Burj Khalifa, the tallest building in the world, and many other incredible megaprojects. Dubai is one of the most popular tourist destinations in the world. Dubai, UAE, tourism, economy,
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#Dubai #Oil #UAE
Music:
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• LEMMiNO - Cipher (BGM)
CC BY-SA 4.0 © 2023 Arkive Productions LLC

Пікірлер: 130

  • @ArkiveYT
    @ArkiveYT2 жыл бұрын

    Thanks for Watching, Subscribe if you enjoyed the video

  • @free-radical6341

    @free-radical6341

    2 жыл бұрын

    Nice vdo

  • @Ibh111142
    @Ibh1111422 жыл бұрын

    Perfect weather check carefully very high summer temperatures and an atmosphere full of dust?

  • @muhammadhaziq8157

    @muhammadhaziq8157

    2 жыл бұрын

    No volcanic activity, no monsoon, it's fairly a strategic geography location

  • @largol33t1

    @largol33t1

    2 жыл бұрын

    @@muhammadhaziq8157 True. Despite the heat, there are tourist-loving places worse than Dubai.

  • @brothersman524

    @brothersman524

    2 жыл бұрын

    But November to March, the temperatures are very nice and comfortable to visit

  • @Ibh111142

    @Ibh111142

    2 жыл бұрын

    @@brothersman524 the dust never goes

  • @brothersman524

    @brothersman524

    2 жыл бұрын

    @@Ibh111142 Well it is next to deserts like all Arabian peninsula countries are so you expect it

  • @karlsvensson1766
    @karlsvensson17662 жыл бұрын

    The reliance on oil for UAE is 30% but for the state of Dubai it's only 5%. What the video also misses is how Dubai is attracting expats with zero income and capital gains taxes. Dubai is also one of the few places with no lockdowns and no restrictions. So Dubai gives you both movement freedom and economic freedom.

  • @Hyacsho

    @Hyacsho

    2 жыл бұрын

    Dubai does have VAT as far as I know, but that's about it. :)

  • @abdulllllahhh

    @abdulllllahhh

    2 жыл бұрын

    @@Hyacsho It’s only 5% which is very low compared to other countries

  • @lfmsmka

    @lfmsmka

    2 жыл бұрын

    u said Dubai had no lockdowns ? as a citizen I can tell u there was a lockdown, however Dubai and the whole country is great because everyone follows the covid-19 rules so that makes it safe

  • @Hyacsho

    @Hyacsho

    2 жыл бұрын

    @@abdulllllahhh I know, I live here 👍

  • @robinjulien5163

    @robinjulien5163

    2 жыл бұрын

    For a normal tourist it's very expensive, even with the low VAT. 6 US dollar for a soda is stupid.

  • @saadalameri
    @saadalameri2 жыл бұрын

    Dubai never depended on oil, from before the discovery of oil it was a port and a trading hub. It’s not only reliant on tourism, huge percentage from its revenue comes from its ports and airports

  • @barriecharmsway8026

    @barriecharmsway8026

    2 жыл бұрын

    You are correct, this is a load of crap. Dubai's income from oil was never more than 15%. Their first investment was in Dubai Dry Docks and Port Rashid, the Jebel Ali Port that is still a major source of revenue. This guy is obviously been sniffing some substance rather than doing his research.

  • @Knaeben

    @Knaeben

    Жыл бұрын

    You've got to be kidding me. You guys are living in a fantasy world. Income from "ports and airports" isn't going to build a city like that.

  • @khalidk2659

    @khalidk2659

    9 ай бұрын

    Everything is Damn well connected to oil supply in the end

  • @homeaccount5206
    @homeaccount52062 жыл бұрын

    One note: Dubai the city and emirate never made much money on their own oil, while they did have oil, it was nother compared to the capital Abu Dhabi's reserves, so a lot of the investment did come from abu dhabi whose oil reserves will last another 100 years. However despite the large oil reserves both emirates are distancing their economies from oil because oil prices are already predicted to have peaked a few years ago, and with no sign of a rise in prices they have no choice but to diversify. It's a good thing they realized this faster than most other oil producing nations did.

  • @animatedtheories9903

    @animatedtheories9903

    2 жыл бұрын

    This aged terribly as prices skyrocket

  • @dekaredfire

    @dekaredfire

    2 жыл бұрын

    The bigger question is, can Dubai survive without it's slavery system

  • @simonmcneilly55

    @simonmcneilly55

    2 жыл бұрын

    $100 a barrel 🤡🌎

  • @strata1769
    @strata17692 жыл бұрын

    Love your channel!

  • @Hyacsho
    @Hyacsho2 жыл бұрын

    This was actually a lovely video dude, I enjoyed it. While it's not perfect here, it does what it can, what else can we expect from a nation, but to ensure it's own survival and growth. PS: The museum isn't open yet, but looking forward to it

  • @shivang15

    @shivang15

    2 жыл бұрын

    Opening this coming week

  • @nobody-nq9mn

    @nobody-nq9mn

    2 жыл бұрын

    @@shivang15 it wasn't great tbf

  • @Akei51

    @Akei51

    2 жыл бұрын

    @@nobody-nq9mn yes it is, and it has so many visitors

  • @darnelldennis0112
    @darnelldennis01122 жыл бұрын

    What!!??? U only have 600 subs u deserve at least 100k the video looks so good

  • @erenjeagar8584
    @erenjeagar85842 жыл бұрын

    You make really good vids, keep it up

  • @Mohamed-ht5du
    @Mohamed-ht5du2 жыл бұрын

    people have to understand that 50+ countries around the world produce more oil than the UAE and rely on oil only source to power and energy, its important to know how to use these resources like UAE did and transition to new sources to support the economy and other aspect of life.

  • @DucklingGaming
    @DucklingGaming2 жыл бұрын

    Can’t believe that this channel only has 300 subscribers!

  • @Cinogard

    @Cinogard

    2 жыл бұрын

    Oh shut up 😜

  • @Hyacsho

    @Hyacsho

    2 жыл бұрын

    I know right

  • @shafuimcoming5151

    @shafuimcoming5151

    2 жыл бұрын

    @Prestallar 3.35k now!

  • @Mr.BobsDog

    @Mr.BobsDog

    2 жыл бұрын

    It has over 1 million subtitles now

  • @Cxnxr
    @Cxnxr2 жыл бұрын

    Nice video, I really enjoyed it however I wish you'd do a little more research as many points of the video were outdated or not said at all. The article you mentioned about the UAE generating $300 Billion USD from oil exports in past decades was from 2003. Also, Tourism is very important to Dubai's economy and has been a focal point of the Dubai government but their ultimate goal is to be a knowledge-based economy as relying on tourism can be very risky as well. Another point you could have said is that the Dubai government revenues only generate 6% from oil and gas activities. Overall good video but those are some points I wanted to share. Best of luck to you and your channel in the future!

  • @ArkiveYT

    @ArkiveYT

    2 жыл бұрын

    Thanks I appreciate it. Some info online used in my research is hard to verify but I will work to improve in the future. I do spend a lot of time on researching for my scripts, but I will work harder to get the most accurate information. Thanks

  • @user-ur3vl7li5m
    @user-ur3vl7li5m2 жыл бұрын

    I wish they didn’t take this path, If they chose the Norway method 🇳🇴 I think it’s much better and their economies bern les hammered . Good luck 🍀 to 🇦🇪 people ❤️

  • @mamounb8063
    @mamounb80632 жыл бұрын

    this channel will blow up soon

  • @juanmartinramallo6734
    @juanmartinramallo67342 жыл бұрын

    Very good that all me gustan todos los vídeos muchas gracias che

  • @skymiles23
    @skymiles232 жыл бұрын

    Wonderful 👍

  • @niallmcdonagh1093
    @niallmcdonagh10932 жыл бұрын

    Visiting Dubai brings to mind Gertrude Stein "...when you get there, there isn't any there there."

  • @Mr.BobsDog
    @Mr.BobsDog2 жыл бұрын

    Dubai is a good country 💪

  • @a.yashwanth
    @a.yashwanth2 жыл бұрын

    hard to focus on the video with the lemmino music in the background. It's so good.

  • @melinasasha120
    @melinasasha1202 жыл бұрын

    Thank you for this video on my favourite city.I believe Dubai will always recover no matter what. I thought its GDP dependency on oil was more like less than 5% not 30%.

  • @ArkiveYT

    @ArkiveYT

    2 жыл бұрын

    I was referring to the UAE as a whole. Sorry for the confusion. I was explaining how the UAE government placed a huge bet on Dubai succeeding in the tourism spectrum and then I showed their oil reliance as a whole.

  • @melinasasha120

    @melinasasha120

    2 жыл бұрын

    @@ArkiveYT Thank you for your reply. I subscribed to your channel.

  • @free-radical6341

    @free-radical6341

    2 жыл бұрын

    Mine to

  • @Mr.BobsDog

    @Mr.BobsDog

    2 жыл бұрын

    Dubai is a good country

  • @superbhiel
    @superbhiel2 жыл бұрын

    Nice watching here from dubai

  • @Jernofenz
    @Jernofenz2 жыл бұрын

    I m literally binge watching ur channels.. very epic thumbnails,topic and content

  • @herbertthiebet211
    @herbertthiebet2112 жыл бұрын

    Dubai is the perfect place for the 4. industrial revolution, digitalization, blockchain, tokenization, kryptobusiness, etc... 😎🌴☀️

  • @chumpX2929
    @chumpX2929 Жыл бұрын

    Dubai is a star In the world I am glad this is happening and it will never fail ever

  • @rilke3266
    @rilke32662 жыл бұрын

    Going to dubai has become a status symbol. As wealth inequality and class divisions grow, the desire to "have been to dubai" will also only grow in my estimation.

  • @IanTMcFarland
    @IanTMcFarland2 жыл бұрын

    The image at 4:00 (as well as the one at 4:21, I am reasonably certain) aren't actual photographs, but renderings of what they hope to do in the future. I think it's fine that you included them in this segment as it's somewhat forward-looking, but you really need to make clear that those aren't today's reality, particularly since they're just dropped in with actual photographs of what Dubai looks like today.

  • @Hyacsho
    @Hyacsho2 жыл бұрын

    PS: See if you can make the distinction between the UAE and Dubai :D

  • @12gmkk29
    @12gmkk292 жыл бұрын

    Something you haven’t mentioned which is the wars the Uae are in like in yemen and Libya + the terrible record of human rights These thing played a huge role in destroying the reputation on tourism and foreign investments

  • @zaydzidane9154
    @zaydzidane91542 жыл бұрын

    I hope the best for the United Arab Emirates despite the fact that there is mini things I disagree with but I hope they just moved move forward

  • @dannyhang7482
    @dannyhang74822 жыл бұрын

    Yes when running of oils that set everything when dark.

  • @peterdsouza1259
    @peterdsouza12592 жыл бұрын

    Dubai can never fail their visa is very much in demand in the Asian countries !

  • @anthonymorris5084
    @anthonymorris50842 жыл бұрын

    Dubai is what happens when you embrace vision and courage.

  • @raytool7036

    @raytool7036

    2 жыл бұрын

    No. Dubai is what happens when a 9 year old opens city skylines for the first time.

  • @raytool7036

    @raytool7036

    2 жыл бұрын

    It's basically a shitty middle eastern version of a Florida suburb. It also exploits immigrant southeast asian workers. Modern slavery

  • @anthonymorris5084

    @anthonymorris5084

    2 жыл бұрын

    @@raytool7036 Dubai is an Islamic dictatorship that embraces oppression. This is a different topic of discussion. Dubai is not Florida, unless you are referring to Disney World. Dubai is a stunning modern city with incalculable vision. There is nothing on Earth that even comes close to their numerous and seemingly endless accomplishments.

  • @raytool7036

    @raytool7036

    2 жыл бұрын

    @@anthonymorris5084 their city will crumble and fall apart as soon as we ditch fossil fuels. It is built on idiocracy, which is only held together by the insane amount of oil money. When that goes away, it will fall, and it won't just be a distopia as it is today, it will be straight out post apocalyptic.

  • @anthonymorris5084

    @anthonymorris5084

    2 жыл бұрын

    @@raytool7036 Nobody creates a place like Dubai from being an idiot. Your apocalyptic predictions are hyperbolic and seemingly based of wishful thinking. The UAE recognized it's dependency on finite resources decades ago and has been successfully working toward diversifying it's economy. Shipping, fishing, tourism, service sector, manufacturing and even agriculture are all growing rapidly. It's non oil economy is 28 times larger than in 1981. There are lots of successful countries that have no oil and gas. Why would the UAE go the way of Venezuela and not Taiwan when they have proven to be so adept at generating wealth and consistently raising living standards? Dubai in fact, out of all the Emirates has the least amount of oil and gas revenue and the most diverse economy in the UAE. The other Emirates have been slower in diversification.

  • @anjan6916
    @anjan69162 жыл бұрын

    I think Dubai can survive. But one day after people have satisfy the curiosity of what a wealthy modern arab city is like. Things are not so good to other gulf arab cities since Dubai will be the one that carry the legacy by being the first.

  • @SupernovaOne
    @SupernovaOne2 жыл бұрын

    Jumer-aiyah 🤣

  • @zinussan50
    @zinussan502 жыл бұрын

    Dubai is like any trust fund rich kid.

  • @Kajendra
    @Kajendra2 жыл бұрын

    Yes, it can survive, look at Singapore.

  • @eduardochavacano
    @eduardochavacano2 жыл бұрын

    All that effort to build artificial islands and skyscrapers, when the most interesting places in Dubai are the spice markets, the dessert, and the Old Dubai.

  • @mostafakais8729

    @mostafakais8729

    2 жыл бұрын

    old dubai is beautiful

  • @OnilMarteNavarroza
    @OnilMarteNavarroza2 жыл бұрын

    Jumeirah - ju-MEY-rah

  • @ABCC528
    @ABCC5282 жыл бұрын

    Dubai was built on Gas and trading, they don't have that much oil compared to their trading and gas sector.

  • @ollikoo4555
    @ollikoo4555 Жыл бұрын

    isnt it that they are still using oil money but this time they are loaning it from UAE and that they are one of the most indepted citys in the world?

  • @MyRandomboy
    @MyRandomboy2 жыл бұрын

    Dubai has no oil. You meant uae. Very poorly researched%

  • @aTitan
    @aTitan Жыл бұрын

    wanna collab

  • @AhmedYehias
    @AhmedYehias2 жыл бұрын

    Palm de marayah? TF?!

  • @gunsumwong3948
    @gunsumwong39482 жыл бұрын

    Stupid question. The real question everyone wants to know is can US survive without oil? Dubai is the main Arabic country who trade with the world for centuries so it is pretty international. Anybody who has visited Dubai would know Dubai is one of the most friendly Arabic countries. Without oil it can simply go back to trading.

  • @Chris.Davies
    @Chris.Davies2 жыл бұрын

    Betteridge's Law of Headlines says, No. And your ignorance of it means I don't have to waste five minutes. Thank you.

  • @lakeofbays1622
    @lakeofbays16222 жыл бұрын

    Can Dubai attract tourist 25-30 years from now? Most of the things they made now will be dated by that time and world substantially may have moved from oil. If Saudi Arabia does not generate wealth from oil Dubai is done.

  • @zubinzakariya421
    @zubinzakariya4212 жыл бұрын

    This video is giving false information about Dubai! Dubai has never been dependent on Oil since many decades, Its Abu Dhabi who owns 95% of UAE's total Hydrocarbon resources. Abu Dhabi is now looking to expand its revenue from oil to tourism and other things. If you replace Dubai with Abu Dhabi then this video make sense!

  • @bohboh8
    @bohboh82 жыл бұрын

    ❤🇦🇪⭐🌙

  • @DanBurgaud
    @DanBurgaud2 жыл бұрын

    is like fish without water.... fish had to evolve and became land animals. survive? Yes if Dubai evolved too.

  • @jimboy419
    @jimboy4192 жыл бұрын

    I wonder who lives in all these apartments and what they do all day. Is it all wealthy people who already have money?

  • @ts3784
    @ts37842 жыл бұрын

    perfect weather? are you crazy?

  • @lfmsmka

    @lfmsmka

    2 жыл бұрын

    hey In winter it is the perfect winter as its not too cold

  • @ts3784

    @ts3784

    2 жыл бұрын

    @@lfmsmka yea for few months but the rest of the year is hell on earth

  • @lfmsmka

    @lfmsmka

    2 жыл бұрын

    @@ts3784 agreed plus if you add the humidity it comes with oh god 💀😂😂😂

  • @ts3784

    @ts3784

    2 жыл бұрын

    @@lfmsmka disaster

  • @lfmsmka

    @lfmsmka

    2 жыл бұрын

    @@ts3784 AHAHAHAHAHAH, I still love the country tho, as they say you love it with it flaws but to be honest if u are a beach goer, boat guy or like diving the rest of the year is your heaven

  • @gregmorgan8350
    @gregmorgan83502 жыл бұрын

    Dubai hasn’t had oil for decades. You’re confusing Dubai with neighbouring emirate Abu Dhabi, which is a major oil producer.

  • @urielalbertosanchezm
    @urielalbertosanchezm2 жыл бұрын

    They really have choice other than build the same kind of building over and over, but they become blind

  • @Xxsatanicx
    @Xxsatanicx2 жыл бұрын

    *Ghost town in the future*

  • @glennalexon1530
    @glennalexon15302 жыл бұрын

    What? Dubai has survived with little oil for decades. Even thirty years ago, when their production peaked, they pumped only about 10% of what Canada produces. Tourism accounts for about 5% of GDP. Read a book.

  • @playa3615
    @playa36152 жыл бұрын

    And this was bought to you by Dubai Tourism and The Dubai Government! 🤣🤣🤣

  • @tobygoodguy4032
    @tobygoodguy40322 жыл бұрын

    I can't see anything touristy about walking around a ginormous, sterile urban conglomeration situated along a coast with absolutely no surf. (Stick to what you know - oil.)

  • @mefromad
    @mefromad2 жыл бұрын

    Dubai doesn’t have oil .. !!

  • @mostafakais8729

    @mostafakais8729

    2 жыл бұрын

    people always mistake dubai for UAE. which is wrong because dubai is just one of the seven emarits(states)

  • @joaniebarc6763
    @joaniebarc67632 жыл бұрын

    We have more oil in the caribbean ! and almost all the tar.

  • @Voltaireooooo
    @Voltaireooooo2 жыл бұрын

    Hopefully their greed will be terminated.

  • @ccx22
    @ccx222 жыл бұрын

    Dubai has not got its break even . Whyyyy.... Because it finances all its royal property development from DEBTTTTTTT when it defaults... It asks abu Dhabi to rescue

  • @mujtabashah3667
    @mujtabashah36672 жыл бұрын

    Dubai is interesting in terms of how 99% of what makes up this nation state is exclusively foreign, so it's surprising how it now wants to turn into a knowledge based economy; which surely will rely on foreign expats to keep it running. Personally, I don't see Dubai turning into a legacy city like Paris or London etc, even though it may pour all the money it can to make it look that way, the inherent psyche of the arab rulers and the native emerati citizens is of an incredible racist and intolerant nature, and to think such people can have the capacity to sustain a western progressive mindset all by themselves is laughable.

  • @lfmsmka

    @lfmsmka

    2 жыл бұрын

    a pretty racist statement for a person complaining about racism eh?, the locals here and the rulers are not racists at all dude I don't think u live here cuz if you do you would know of the rule that states that u can't hurt another persons emotions for example by being racist or cursing them which would result in a very very large fine

  • @joshuathomas2012

    @joshuathomas2012

    2 жыл бұрын

    @@lfmsmka Are you serious? Could you tell me the source to that? Racism happens everywhere especially the workplace. You are paid better or worse thanks to the power of your passport, nothing else.

  • @RK-cj4oc

    @RK-cj4oc

    2 жыл бұрын

    @@lfmsmka lol, must hurt you to read the truth.

  • @lfmsmka

    @lfmsmka

    2 жыл бұрын

    @@RK-cj4oc and how would u know the truth?, again im not saying theres no racism here just stating that most aren't racist and that its illegal to be racist here HEHEHEEHE

  • @lfmsmka

    @lfmsmka

    2 жыл бұрын

    @@joshuathomas2012 yeah could check the constitution of UAE, I am trying to link the thingy but the comment gets deleted I think its not allowed to post links in the comments

  • @irajabaly
    @irajabaly2 жыл бұрын

    Another huge drawbacke and failure caused Dubaï too much large and unfit economic policies and choices could occur : This mass tourism strategy was fine until 2020, but Dubaî government still does not seem to take into account the current sanitary crisis in 2022 , due to Covid pandemia , which has hampered significantly the overseas tourism and international airline turnover. Thus, the adverse turn and downfall of tourism revenue there might come in a short term future. Everybody knows that there is no miracle in economy and finance matters in our modern era

  • @lfmsmka

    @lfmsmka

    2 жыл бұрын

    tourism accounts for only 5% from its economy

  • @howardjohnson2138
    @howardjohnson21382 жыл бұрын

    In answer to your question, I hope not. I ho[e they go broke

  • @fancydicor
    @fancydicor2 жыл бұрын

    Totally lie video

  • @jonnypods3469
    @jonnypods34692 жыл бұрын

    Dubai has no oil. It is in Abu Dhabi. Flop!

  • @manfredceriatke6301
    @manfredceriatke63012 жыл бұрын

    please try to learn the correct pronunciation of Palm Jumeirah. There is no Palm Jumeriah