Dubai’s economy relies on numerous sources to make revenue, a main one being the retail space. When it comes to currency, the Dirham is one of the strongest in the world, equating to 27 cents of the USD as of 2023. Distribution includes but isn’t limited to oil, e-commerce, and tourism. Previously, Dubai relied heavily on their oil trade however that wasn’t very long lasting , as now it’s running dry (Serafina Dubai, 2023). Supplying oil makes up less than 1% of the financial income and in turn, the city has elected to move into other lucrative markets (Dubai, 2023). The focus of Dubai’s financial income will shift to tourists and visitors.
Shifting focus to cater to the average person, the city has been named one of the top shopping destinations in the world , housing the largest shopping mall in the world, home to more than 1,200 stores (The First Group, 2023; Visit Dubai, 2023). While Dubai’s large shopping market attracts tourists from all over the world, the expos they host are also alluring. From the physical world to the online realm, Dubai leaves no stone unturned when it comes to making a profit.
