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Private companies were established to build and operate infrastructure, including electricity, telephone services and both the ports and airport operators.
Dubai was known for its pearl exports until the 1930s; the pearl trade was damaged irreparably by the Great Depression in the 1930s and the innovation of cultured pearls.
Persian merchants naturally looked across to the Arab shore of the Persian Gulf finally making their homes in Dubai.
They continued to trade with Lingah, however, as do many of the dhows in Dubai Creek today, and they named their district Bastakiya, after the Bastak region in southern Persia .
It is also a major transport hub for passengers and cargo.
By the 1960s, Dubai's economy was based on revenues from trade and, to a smaller extent, oil exploration concessions, but oil was not discovered until 1966. Dubai has recently attracted world attention through many innovative large construction projects and sports events.