Description

Dubai is the most populous city in the United Arab Emirates and the capital of the Emirate of Dubai, the most populous of the country’s seven emirates. As of 2024, the city has a population of around 3.79 million, more than 90% of which are expatriates. In the early 20th century, Dubai developed into a significant regional and international trade hub, emphasizing tourism and luxury.

Dubai has been a center for regional and international trade since the early 20th century, and its economy relies on revenues from trade, tourism, aviation, real estate, and financial services. Oil revenue helped accelerate the development of the city. However, oil production contributed less than 1 percent to the emirate’s GDP in 2018. Due to financial secrecy, low taxes, and valuable real estate, Dubai is an appealing destination for money launderers, criminals, corrupt political figures and sanctioned businesspeople to launder or hide money.