Many people say that Dubai can have the gift of oil today, and this is right or wrong. It’s right because 50 years ago Dubai was just a small fishy-smelling fishing village. Most of the more than 5,000 residents were illiterate. They went fishing during the fishing season and trained eagles and rabbits in their free time. Sometimes they only ate one meal a day and drank water. It is often full of bugs.
In the 1960s, oil was successively discovered in the deserts of the Middle East. In 1969, with the export of the first barrel of crude oil, Dubai's fate changed. The total GDP of this desert country has increased by 230% in 10 years. Dubai is rich because of oil. It goes without saying.
This is wrong because Dubai does not have much oil. The UAE’s proven oil reserves are 97.8 billion barrels, making it the world’s third-largest oil resource country. Dubai has 4 billion barrels. The seven emirates of the UAE are all operating independently. Dubai’s oil output currently accounts for only 6% of GDP. Mining will be completed in a few years.
Dubai people often have a sense of superiority when talking about these things. In order to avoid fishing and hunting again, they have to make plans for tomorrow. In the bustling city center of Dubai, there is a huge statue of the current chief Al Maktoum with his words: "Dreams have no limits, keep moving forward." When the oil was about to run out, Dubai used an almost crazy speed to accelerate its transformation and development, creating many world number one.
