3 ms·
Dubai doesn't have oil. It's a tax haven that specifically focused on tourism, trade and finance (and now tech) because of a lack of oil. Compare that to Abu Dh
by fakedang 5y ago
Dubai doesn't have oil. It's a tax haven that specifically focused on tourism, trade and finance (and now tech) because of a lack of oil. Compare that to Abu Dhabi which has massive oil reserves, is largely bureaucratic and is still long oil.
On a tangential note, Dubai is heavily burdened with debt post 2008, largely to Abu Dhabi, so that's one data point going counter to the premise of the article.