1960s: Vulnerable Economy
For thousands of years, Dubai’s trade relationship with neighboring countries provided a steady income for the village. Situated on the Arabian Gulf, Dubai functioned as a port for trading and relied heavily on its fishing and pearl diving. However, when Japan invented artificial pearls in the 1950s, the economy took a harsh downturn. Luck was on their side though and in 1966 everything was about to change for the local fishing village…