Monday, October 21

Dubai – The History of Dubai

The first mention of the city of Dubai goes back to 1799. The Bedouin tribe Bani Yas fled the Wahhabis of Nejd. They then settled in the current location of the port of Dubai. Known as "Pirates of the Coast, Dubai and neighboring emirates signed a peace treaty (on the General Maritime Treaty) on January 8, 1820 with the United Kingdom. Initially dependent on Abu Dhabi, the city and the Emirate of Dubai is separated in 1833" without resistance ".

In 1892, Dubai was placed under the protection (a protectorate) of the United Kingdom by an exclusivity agreement. Unlike their neighbors, the rulers of Dubai fostered trade and many foreign merchants, mainly from India. These merchants moved into the city, which remained best known for its pearl exports until the 1930s.

After the devaluation of the rupee in the Gulf in 1966, Dubai joined Qatar to establish a new currency, the riyal Qatar and Dubai. Oil was then discovered in the Persian Gulf 120 miles from the coast.

With five other emirates, Dubai earned its independence with the creation of the United Arab Emirates on December 2, 1971. They were joined next year by the emirate of Ras Al Khaimah and in 1973 the federation adopted the dirham of the UAE as a common currency .

In recent years, because of the awareness of the government's extreme economic dependence of the emirates towards fossil fuels, Dubai converted its economy to new technologies and trade but also to tourism mainly luxury. These tourism projects were of extremely large scale proportions. In 2006, oil accounted for less than 10% of GDP. It accounted for 30% in 2003 and 45% in the late 1980s.

Source by Harry Preston

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