Dubai (/duːˈbaɪ/ doo-by; Arabic: دبي‎‎ Dubayy, Gulf pronunciation: [dʊˈbɑj]) is the most populous city in the UAE. It is located on the southeast coast of the Persian Gulf, one of the seven emirates that make up the country. Abu Dhabi and Dubai are the only two emirates to have veto power over critical matters of national importance in the country's legislature. The city is located on the emirate's northern coastline and heads up the Dubai-Sharjah-Ajman metropolitan area. It is to host World Expo 2020. Business Dubai has emerged as a global city and business hub of the Middle East. It is also a major transport hub for passengers and cargo. By the 1960s, its economy was based on revenues from trade and, to a smaller extent, oil exploration concessions, but oil was not discovered until 1966. Oil revenue first started to flow in 1969. Dubai's oil revenue helped accelerate the early development of the city, but its reserves are limited and production levels are low: today, less than 5% of the emirate's revenue comes from oil. The emirate's Western-style model of business drives its economy with the main revenues now coming from tourism, aviation, real estate, and financial services. It has recently attracted world attention through many innovative large construction projects and sports events. The city has become iconic for its skyscrapers and high-rise buildings, in particular the world's tallest building, the Burj Khalifa. Dubai's property market experienced a major deterioration in 2008–09 following the financial crisis of 2007–08, but the emirate's economy has made a return to growth, with a projected 2015 budget surplus. As of 2012, Dubai is the 22nd most expensive city in the world and the most expensive city in the Middle East. In 2014, hotel rooms were rated as the second most expensive in the world, after Geneva. Also was rated as one of the best places to live in the Middle East by U.S. global consulting firm Mercer. (Source - Wikipedia)

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