An emirate in the United Arab Emirates that has established itself as a global business hub by drawing the well-heeled and economically footloose to live, work and make money. It has become a global transport hub linking east and west, and home to Emirates, the world's largest international airline.
Dubai's population grew by 5.6% in 2025, the quickest rate since 2019, to 3.9m. The number of millionaires has been rising fast. The emirate has been issuing more long-term visas and making it easier for foreigners to buy homes.
In the first half of 2025 more than 1,000 firms set up shop in Dubai's financial centre, almost a third more than did so a year before. JPMorgan Chase expanded its local outpost in 2025. Standard Chartered's then chief financial officer called its Dubai operation a "blueprint" for its other wealth-management centres.
Dubai is home to at least 18 data centres, half the UAE's total. The UAE boasts more than half of the Gulf's planned data-centre investments. The Emiratis have partnerships with Microsoft and BlackRock for $30bn-worth of AI infrastructure investments, and stakes in OpenAI, Anthropic and xAI.
Iran's retaliation against American and Israeli attacks beginning February 28th 2026 hit Dubai directly. The Fairmont hotel on the Palm Jumeirah caught fire. An Amazon Web Services data centre was struck. The airport was damaged and flights suspended. Jebel Ali, the emirate's fast-growing port and transshipment hub, paused operations. DP World, the port operator, quickly resumed operations. Some foreign residents left via Oman or Saudi Arabia, where airspace stayed open. Companies began considering political-risk insurance for the first time. Muhammad Bin Zayed, the UAE's president, visited Dubai Mall on March 2nd to instil confidence.
Cleanliness becomes more important when godliness is unlikely.