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A majority of the emirate's revenues are from trade, real estate and financial services.[7] Revenues from petroleum and natural gas contribute less than 6% (2006)[8] of Dubai's US$ 37 billion economy (2005).[9] Real estate and construction, on the other hand, contributed 22.6% to the economy in 2005, before the current large-scale construction boom.[10]
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So its not really petroleum now, though it was. From what I know there are a lot of really nice hotels and houses in Dubai, theres lot of beaches and nice weather so they can sell real estate there to rich people very well.
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Iranians have invested a total of $200 billion, which is expected to increase to $300 billion in 2006.
Iran’s Standard and Industrial Research Institute announced last year that the UAE has the largest share of exports of low-quality and substandard products to Iran.
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http://iran-daily.com/1385/2528/html...my.htm#s135036
Dubai has been pretty rich for a while. But it mostly comes from spending their money the right ways.
