How Did Dubai Develop So Fast?
- Anthony Watkins
The finding of oil was made. In addition, following the devaluation of the Persian Gulf rupee, which had been issued by the Government of India, Dubai was able to rapidly expand and grow as a result of this development, which was coupled with the newly independent country of Qatar joining forces with Dubai to create a new currency called the Riyal.
Why is Dubai developing so fast?
How did Dubai get so rich? | CNBC Explains
It is important to emphasize that Dubai does not have any oil reserves, despite popular belief. You may find a significant amount of oil in other parts of the United Arab Emirates, but Dubai is not an oil-rich region. So let’s get back to the original question.