The city and emirate of Dubai are within the United Arab Emirates. Dubai is a coastal territory that shares a southern border with Oman. The United Arab Emirates is comprised of seven individual emirates and gained its independence in 1971.
Abu Dhabi, the capital of the UAE, is the largest emirate in terms of geographic size, while Dubai is the second largest. Dubai has the highest population of all the emirates in the UAE. The city of Dubai is located on the northern coast of the territory. Prior to 1950, the emirates' economies were based primarily on fishing and the pearl trade. Abu Dhabi was the first emirate to begin the production and exportation of oil, and it used the revenues to develop infrastructure, such as education and health care.
Dubai's oil reserves were smaller than Abu Dhabi's, so it developed other industries to diversify the economy. During the 2000s, Dubai sought to become an international financial and cosmopolitan hub, attracting large amounts of foreign investors. This helped fund massive construction projects, such as the Burj Khalifa skyscraper, which stands 2,717 feet tall. The financial crisis of 2009 damaged Dubai's real estate industries, but tourism and retail industries remained stable.