Dubai is a nice place from what l have seen on television and from people l know that have been out there, l know a few people that fly out to Dubai just to buy certain items and when they come back to the UK they sell those items and make a decent amount money from it, l have even considered doing the same thing.
Tourism has usually been the main profit for the past decade because of the amount of new potential investors and the capital behind it.
Dubai is a fascinating tourist spot. It is all about luxury. I think the problem will be about the PR that goes into marketing it. Remember, potential tourists will have a lot of apprehensions of going and that usually has to do with myths that have been perpetrated again and again. If they can showcase Dubai as a place that is welcoming to foreigners (which it is!), it will have an easy time of becoming a wonderful tourist hub. The place itself is unbelievable and is on par with other places around the world. When the oil dries up, they will survive. I am sure of it.
I also agree with that king, Dubai is a super-rich country due to the oil, but they are also investing a lot (artificial islands and so on) on tourism, so they are profiting from that too.
Well, that isn't a very risque prediction. Dubai has little oil, most of the oil in the UAE is with the capital, Abu Dhabi. Dubai's income is from real estate and tourism.
http://en.wikipedia.org/wiki/Economy_of_the_United_Arab_Emirates It clearly states there that "Oil accounts for only 2% of Dubai's GDP." So yes, I would say the income from tourism is higher than from oil as well.
LOL, that's true, if real estate and tourism are already the main income for Dubai, the eventual lack of oil will not make a big difference.
Don't believe everything you see in wikipedia. It's just a patchwork of different sources and some are older than other and some may not even be credible sources. I'd look more into their official website for this info. But yes, oil is no longer the main income of Dubai. (the city that is, not sure about the Emirate) And as you see there are 2 Dubais, the city is part of the Emirate and the Emirate is a part of the UAE. So I wouldn't be surprised if people mix up the city and the Emirate.
http://news.gulfjobsmarket.com/oil-makes-up-2-of-dubai-gdp-post-diversification-7861765-news Here is the source for that figure. Seems pretty reasonable to me. Having lived there, I can back this up with what I've heard from the local populace in Dubai.