The reliance on oil for UAE is 30% but for the state of Dubai it's only 5%. What the video also misses is how Dubai is attracting expats with zero income and capital gains taxes. Dubai is also one of the few places with no lockdowns and no restrictions. So Dubai gives you both movement freedom and economic freedom.
u said Dubai had no lockdowns ? as a citizen I can tell u there was a lockdown, however Dubai and the whole country is great because everyone follows the covid-19 rules so that makes it safe
Dubai never depended on oil, from before the discovery of oil it was a port and a trading hub. It’s not only reliant on tourism, huge percentage from its revenue comes from its ports and airports
You are correct, this is a load of crap. Dubai's income from oil was never more than 15%. Their first investment was in Dubai Dry Docks and Port Rashid, the Jebel Ali Port that is still a major source of revenue. This guy is obviously been sniffing some substance rather than doing his research.
One note: Dubai the city and emirate never made much money on their own oil, while they did have oil, it was nother compared to the capital Abu Dhabi's reserves, so a lot of the investment did come from abu dhabi whose oil reserves will last another 100 years. However despite the large oil reserves both emirates are distancing their economies from oil because oil prices are already predicted to have peaked a few years ago, and with no sign of a rise in prices they have no choice but to diversify. It's a good thing they realized this faster than most other oil producing nations did.
people have to understand that 50+ countries around the world produce more oil than the UAE and rely on oil only source to power and energy, its important to know how to use these resources like UAE did and transition to new sources to support the economy and other aspect of life.
I wish they didn’t take this path, If they chose the Norway method 🇳🇴 I think it’s much better and their economies bern les hammered . Good luck 🍀 to 🇦🇪 people ❤️
This was actually a lovely video dude, I enjoyed it. While it's not perfect here, it does what it can, what else can we expect from a nation, but to ensure it's own survival and growth. PS: The museum isn't open yet, but looking forward to it
Nice video, I really enjoyed it however I wish you'd do a little more research as many points of the video were outdated or not said at all. The article you mentioned about the UAE generating $300 Billion USD from oil exports in past decades was from 2003. Also, Tourism is very important to Dubai's economy and has been a focal point of the Dubai government but their ultimate goal is to be a knowledge-based economy as relying on tourism can be very risky as well. Another point you could have said is that the Dubai government revenues only generate 6% from oil and gas activities. Overall good video but those are some points I wanted to share. Best of luck to you and your channel in the future!
Thanks I appreciate it. Some info online used in my research is hard to verify but I will work to improve in the future. I do spend a lot of time on researching for my scripts, but I will work harder to get the most accurate information. Thanks
Going to dubai has become a status symbol. As wealth inequality and class divisions grow, the desire to "have been to dubai" will also only grow in my estimation.
Something you haven’t mentioned which is the wars the Uae are in like in yemen and Libya + the terrible record of human rights These thing played a huge role in destroying the reputation on tourism and foreign investments
@@raytool7036 Dubai is an Islamic dictatorship that embraces oppression. This is a different topic of discussion. Dubai is not Florida, unless you are referring to Disney World. Dubai is a stunning modern city with incalculable vision. There is nothing on Earth that even comes close to their numerous and seemingly endless accomplishments.
@@anthonymorris5084 their city will crumble and fall apart as soon as we ditch fossil fuels. It is built on idiocracy, which is only held together by the insane amount of oil money. When that goes away, it will fall, and it won't just be a distopia as it is today, it will be straight out post apocalyptic.
@@raytool7036 Nobody creates a place like Dubai from being an idiot. Your apocalyptic predictions are hyperbolic and seemingly based of wishful thinking. The UAE recognized it's dependency on finite resources decades ago and has been successfully working toward diversifying it's economy. Shipping, fishing, tourism, service sector, manufacturing and even agriculture are all growing rapidly. It's non oil economy is 28 times larger than in 1981. There are lots of successful countries that have no oil and gas. Why would the UAE go the way of Venezuela and not Taiwan when they have proven to be so adept at generating wealth and consistently raising living standards? Dubai in fact, out of all the Emirates has the least amount of oil and gas revenue and the most diverse economy in the UAE. The other Emirates have been slower in diversification.
Thank you for this video on my favourite city.I believe Dubai will always recover no matter what. I thought its GDP dependency on oil was more like less than 5% not 30%.
I was referring to the UAE as a whole. Sorry for the confusion. I was explaining how the UAE government placed a huge bet on Dubai succeeding in the tourism spectrum and then I showed their oil reliance as a whole.
I think Dubai can survive. But one day after people have satisfy the curiosity of what a wealthy modern arab city is like. Things are not so good to other gulf arab cities since Dubai will be the one that carry the legacy by being the first.
The image at 4:00 (as well as the one at 4:21, I am reasonably certain) aren't actual photographs, but renderings of what they hope to do in the future. I think it's fine that you included them in this segment as it's somewhat forward-looking, but you really need to make clear that those aren't today's reality, particularly since they're just dropped in with actual photographs of what Dubai looks like today.
This video is giving false information about Dubai! Dubai has never been dependent on Oil since many decades, Its Abu Dhabi who owns 95% of UAE's total Hydrocarbon resources. Abu Dhabi is now looking to expand its revenue from oil to tourism and other things. If you replace Dubai with Abu Dhabi then this video make sense!
Stupid question. The real question everyone wants to know is can US survive without oil? Dubai is the main Arabic country who trade with the world for centuries so it is pretty international. Anybody who has visited Dubai would know Dubai is one of the most friendly Arabic countries. Without oil it can simply go back to trading.
All that effort to build artificial islands and skyscrapers, when the most interesting places in Dubai are the spice markets, the dessert, and the Old Dubai.
What? Dubai has survived with little oil for decades. Even thirty years ago, when their production peaked, they pumped only about 10% of what Canada produces. Tourism accounts for about 5% of GDP. Read a book.
Can Dubai attract tourist 25-30 years from now? Most of the things they made now will be dated by that time and world substantially may have moved from oil. If Saudi Arabia does not generate wealth from oil Dubai is done.
I can't see anything touristy about walking around a ginormous, sterile urban conglomeration situated along a coast with absolutely no surf. (Stick to what you know - oil.)
@@ts3784 AHAHAHAHAHAH, I still love the country tho, as they say you love it with it flaws but to be honest if u are a beach goer, boat guy or like diving the rest of the year is your heaven
Dubai has not got its break even . Whyyyy.... Because it finances all its royal property development from DEBTTTTTTT when it defaults... It asks abu Dhabi to rescue
Dubai is interesting in terms of how 99% of what makes up this nation state is exclusively foreign, so it's surprising how it now wants to turn into a knowledge based economy; which surely will rely on foreign expats to keep it running. Personally, I don't see Dubai turning into a legacy city like Paris or London etc, even though it may pour all the money it can to make it look that way, the inherent psyche of the arab rulers and the native emerati citizens is of an incredible racist and intolerant nature, and to think such people can have the capacity to sustain a western progressive mindset all by themselves is laughable.
a pretty racist statement for a person complaining about racism eh?, the locals here and the rulers are not racists at all dude I don't think u live here cuz if you do you would know of the rule that states that u can't hurt another persons emotions for example by being racist or cursing them which would result in a very very large fine
@@lfmsmka Are you serious? Could you tell me the source to that? Racism happens everywhere especially the workplace. You are paid better or worse thanks to the power of your passport, nothing else.
@@RK-cj4oc and how would u know the truth?, again im not saying theres no racism here just stating that most aren't racist and that its illegal to be racist here HEHEHEEHE
@@joshuathomas2012 yeah could check the constitution of UAE, I am trying to link the thingy but the comment gets deleted I think its not allowed to post links in the comments
Another huge drawbacke and failure caused Dubaï too much large and unfit economic policies and choices could occur : This mass tourism strategy was fine until 2020, but Dubaî government still does not seem to take into account the current sanitary crisis in 2022 , due to Covid pandemia , which has hampered significantly the overseas tourism and international airline turnover. Thus, the adverse turn and downfall of tourism revenue there might come in a short term future. Everybody knows that there is no miracle in economy and finance matters in our modern era
Thanks for Watching, Subscribe if you enjoyed the video
Nice vdo
The reliance on oil for UAE is 30% but for the state of Dubai it's only 5%.
What the video also misses is how Dubai is attracting expats with zero income and capital gains taxes. Dubai is also one of the few places with no lockdowns and no restrictions. So Dubai gives you both movement freedom and economic freedom.
Dubai does have VAT as far as I know, but that's about it. :)
@@Hyacsho It’s only 5% which is very low compared to other countries
u said Dubai had no lockdowns ? as a citizen I can tell u there was a lockdown, however Dubai and the whole country is great because everyone follows the covid-19 rules so that makes it safe
@@abdulllllahhh I know, I live here 👍
For a normal tourist it's very expensive, even with the low VAT. 6 US dollar for a soda is stupid.
Dubai never depended on oil, from before the discovery of oil it was a port and a trading hub. It’s not only reliant on tourism, huge percentage from its revenue comes from its ports and airports
You are correct, this is a load of crap. Dubai's income from oil was never more than 15%. Their first investment was in Dubai Dry Docks and Port Rashid, the Jebel Ali Port that is still a major source of revenue. This guy is obviously been sniffing some substance rather than doing his research.
You've got to be kidding me. You guys are living in a fantasy world. Income from "ports and airports" isn't going to build a city like that.
Everything is Damn well connected to oil supply in the end
Perfect weather check carefully very high summer temperatures and an atmosphere full of dust?
No volcanic activity, no monsoon, it's fairly a strategic geography location
@@muhammadhaziq8157 True. Despite the heat, there are tourist-loving places worse than Dubai.
But November to March, the temperatures are very nice and comfortable to visit
@@brothersman524 the dust never goes
@@Ibh111142 Well it is next to deserts like all Arabian peninsula countries are so you expect it
One note: Dubai the city and emirate never made much money on their own oil, while they did have oil, it was nother compared to the capital Abu Dhabi's reserves, so a lot of the investment did come from abu dhabi whose oil reserves will last another 100 years. However despite the large oil reserves both emirates are distancing their economies from oil because oil prices are already predicted to have peaked a few years ago, and with no sign of a rise in prices they have no choice but to diversify. It's a good thing they realized this faster than most other oil producing nations did.
This aged terribly as prices skyrocket
The bigger question is, can Dubai survive without it's slavery system
$100 a barrel 🤡🌎
people have to understand that 50+ countries around the world produce more oil than the UAE and rely on oil only source to power and energy, its important to know how to use these resources like UAE did and transition to new sources to support the economy and other aspect of life.
I wish they didn’t take this path, If they chose the Norway method 🇳🇴 I think it’s much better and their economies bern les hammered . Good luck 🍀 to 🇦🇪 people ❤️
This was actually a lovely video dude, I enjoyed it. While it's not perfect here, it does what it can, what else can we expect from a nation, but to ensure it's own survival and growth. PS: The museum isn't open yet, but looking forward to it
Opening this coming week
@@shivang15 it wasn't great tbf
@@nobody-nq9mn yes it is, and it has so many visitors
Dubai is the perfect place for the 4. industrial revolution, digitalization, blockchain, tokenization, kryptobusiness, etc... 😎🌴☀️
What!!??? U only have 600 subs u deserve at least 100k the video looks so good
Dubai is a good country 💪
Nice video, I really enjoyed it however I wish you'd do a little more research as many points of the video were outdated or not said at all. The article you mentioned about the UAE generating $300 Billion USD from oil exports in past decades was from 2003. Also, Tourism is very important to Dubai's economy and has been a focal point of the Dubai government but their ultimate goal is to be a knowledge-based economy as relying on tourism can be very risky as well. Another point you could have said is that the Dubai government revenues only generate 6% from oil and gas activities. Overall good video but those are some points I wanted to share. Best of luck to you and your channel in the future!
Thanks I appreciate it. Some info online used in my research is hard to verify but I will work to improve in the future. I do spend a lot of time on researching for my scripts, but I will work harder to get the most accurate information. Thanks
Love your channel!
Can’t believe that this channel only has 300 subscribers!
Oh shut up 😜
I know right
@Prestallar 3.35k now!
It has over 1 million subtitles now
Dubai is a star In the world I am glad this is happening and it will never fail ever
Going to dubai has become a status symbol. As wealth inequality and class divisions grow, the desire to "have been to dubai" will also only grow in my estimation.
Visiting Dubai brings to mind Gertrude Stein "...when you get there, there isn't any there there."
hard to focus on the video with the lemmino music in the background. It's so good.
Something you haven’t mentioned which is the wars the Uae are in like in yemen and Libya + the terrible record of human rights
These thing played a huge role in destroying the reputation on tourism and foreign investments
Dubai is what happens when you embrace vision and courage.
No. Dubai is what happens when a 9 year old opens city skylines for the first time.
It's basically a shitty middle eastern version of a Florida suburb. It also exploits immigrant southeast asian workers. Modern slavery
@@raytool7036 Dubai is an Islamic dictatorship that embraces oppression. This is a different topic of discussion. Dubai is not Florida, unless you are referring to Disney World. Dubai is a stunning modern city with incalculable vision. There is nothing on Earth that even comes close to their numerous and seemingly endless accomplishments.
@@anthonymorris5084 their city will crumble and fall apart as soon as we ditch fossil fuels. It is built on idiocracy, which is only held together by the insane amount of oil money. When that goes away, it will fall, and it won't just be a distopia as it is today, it will be straight out post apocalyptic.
@@raytool7036 Nobody creates a place like Dubai from being an idiot. Your apocalyptic predictions are hyperbolic and seemingly based of wishful thinking. The UAE recognized it's dependency on finite resources decades ago and has been successfully working toward diversifying it's economy. Shipping, fishing, tourism, service sector, manufacturing and even agriculture are all growing rapidly. It's non oil economy is 28 times larger than in 1981.
There are lots of successful countries that have no oil and gas. Why would the UAE go the way of Venezuela and not Taiwan when they have proven to be so adept at generating wealth and consistently raising living standards? Dubai in fact, out of all the Emirates has the least amount of oil and gas revenue and the most diverse economy in the UAE. The other Emirates have been slower in diversification.
Very good that all me gustan todos los vídeos muchas gracias che
Thank you for this video on my favourite city.I believe Dubai will always recover no matter what. I thought its GDP dependency on oil was more like less than 5% not 30%.
I was referring to the UAE as a whole. Sorry for the confusion. I was explaining how the UAE government placed a huge bet on Dubai succeeding in the tourism spectrum and then I showed their oil reliance as a whole.
@@ArkiveYT Thank you for your reply. I subscribed to your channel.
Mine to
Dubai is a good country
this channel will blow up soon
I hope the best for the United Arab Emirates despite the fact that there is mini things I disagree with but I hope they just moved move forward
I think Dubai can survive. But one day after people have satisfy the curiosity of what a wealthy modern arab city is like. Things are not so good to other gulf arab cities since Dubai will be the one that carry the legacy by being the first.
Nice watching here from dubai
You make really good vids, keep it up
Dubai can never fail their visa is very much in demand in the Asian countries !
The image at 4:00 (as well as the one at 4:21, I am reasonably certain) aren't actual photographs, but renderings of what they hope to do in the future. I think it's fine that you included them in this segment as it's somewhat forward-looking, but you really need to make clear that those aren't today's reality, particularly since they're just dropped in with actual photographs of what Dubai looks like today.
This video is giving false information about Dubai! Dubai has never been dependent on Oil since many decades, Its Abu Dhabi who owns 95% of UAE's total Hydrocarbon resources.
Abu Dhabi is now looking to expand its revenue from oil to tourism and other things.
If you replace Dubai with Abu Dhabi then this video make sense!
Yes when running of oils that set everything when dark.
Dubai is like any trust fund rich kid.
Stupid question. The real question everyone wants to know is can US survive without oil?
Dubai is the main Arabic country who trade with the world for centuries so it is pretty international. Anybody who has visited Dubai would know Dubai is one of the most friendly Arabic countries. Without oil it can simply go back to trading.
isnt it that they are still using oil money but this time they are loaning it from UAE and that they are one of the most indepted citys in the world?
All that effort to build artificial islands and skyscrapers, when the most interesting places in Dubai are the spice markets, the dessert, and the Old Dubai.
old dubai is beautiful
PS: See if you can make the distinction between the UAE and Dubai :D
Dubai has no oil. You meant uae. Very poorly researched%
Wonderful 👍
I m literally binge watching ur channels.. very epic thumbnails,topic and content
Jumeirah - ju-MEY-rah
What? Dubai has survived with little oil for decades. Even thirty years ago, when their production peaked, they pumped only about 10% of what Canada produces. Tourism accounts for about 5% of GDP. Read a book.
Can Dubai attract tourist 25-30 years from now? Most of the things they made now will be dated by that time and world substantially may have moved from oil. If Saudi Arabia does not generate wealth from oil Dubai is done.
Dubai hasn’t had oil for decades. You’re confusing Dubai with neighbouring emirate Abu Dhabi, which is a major oil producer.
Dubai was built on Gas and trading, they don't have that much oil compared to their trading and gas sector.
Betteridge's Law of Headlines says, No.
And your ignorance of it means I don't have to waste five minutes. Thank you.
Yes, it can survive, look at Singapore.
I wonder who lives in all these apartments and what they do all day. Is it all wealthy people who already have money?
is like fish without water....
fish had to evolve and became land animals.
survive? Yes if Dubai evolved too.
Jumer-aiyah 🤣
I can't see anything touristy about walking around a ginormous, sterile urban conglomeration situated along a coast with absolutely no surf.
(Stick to what you know - oil.)
They really have choice other than build the same kind of building over and over, but they become blind
wanna collab
perfect weather? are you crazy?
hey In winter it is the perfect winter as its not too cold
@@lfmsmka yea for few months but the rest of the year is hell on earth
@@ts3784 agreed plus if you add the humidity it comes with oh god 💀😂😂😂
@@lfmsmka disaster
@@ts3784 AHAHAHAHAHAH, I still love the country tho, as they say you love it with it flaws but to be honest if u are a beach goer, boat guy or like diving the rest of the year is your heaven
Dubai doesn’t have oil .. !!
people always mistake dubai for UAE. which is wrong because dubai is just one of the seven emarits(states)
And this was bought to you by Dubai Tourism and The Dubai Government! 🤣🤣🤣
*Ghost town in the future*
Dubai has not got its break even . Whyyyy.... Because it finances all its royal property development from DEBTTTTTTT when it defaults... It asks abu Dhabi to rescue
Dubai is interesting in terms of how 99% of what makes up this nation state is exclusively foreign, so it's surprising how it now wants to turn into a knowledge based economy; which surely will rely on foreign expats to keep it running. Personally, I don't see Dubai turning into a legacy city like Paris or London etc, even though it may pour all the money it can to make it look that way, the inherent psyche of the arab rulers and the native emerati citizens is of an incredible racist and intolerant nature, and to think such people can have the capacity to sustain a western progressive mindset all by themselves is laughable.
a pretty racist statement for a person complaining about racism eh?, the locals here and the rulers are not racists at all dude I don't think u live here cuz if you do you would know of the rule that states that u can't hurt another persons emotions for example by being racist or cursing them which would result in a very very large fine
@@lfmsmka Are you serious? Could you tell me the source to that?
Racism happens everywhere especially the workplace. You are paid better or worse thanks to the power of your passport, nothing else.
@@lfmsmka lol, must hurt you to read the truth.
@@RK-cj4oc and how would u know the truth?, again im not saying theres no racism here just stating that most aren't racist and that its illegal to be racist here HEHEHEEHE
@@joshuathomas2012 yeah could check the constitution of UAE, I am trying to link the thingy but the comment gets deleted I think its not allowed to post links in the comments
Hopefully their greed will be terminated.
Palm de marayah? TF?!
We have more oil in the caribbean ! and almost all the tar.
❤🇦🇪⭐🌙
Another huge drawbacke and failure caused Dubaï too much large and unfit economic policies and choices could occur : This mass tourism strategy was fine until 2020, but Dubaî government still does not seem to take into account the current sanitary crisis in 2022 , due to Covid pandemia , which has hampered significantly the overseas tourism and international airline turnover. Thus, the adverse turn and downfall of tourism revenue there might come in a short term future. Everybody knows that there is no miracle in economy and finance matters in our modern era
tourism accounts for only 5% from its economy
In answer to your question, I hope not. I ho[e they go broke
Totally lie video
Dubai has no oil. It is in Abu Dhabi. Flop!
please try to learn the correct pronunciation of Palm Jumeirah. There is no Palm Jumeriah