I know few about Dubai but got interested after some footage of their international trade fairs, and more by their building projects for the wealthy. Veeery wealthy: they create artificial islands and the project will surpass Monaco's boom by large. If I am correct they also have and international level bicycle race and wouldn't be surprised to of the F1 being put on the agenda. The Monaco of the Middle East ?
Most financial trade between the Middle East and the Westerners happens in Malta. Dubai has the will and the money to be a much more attractive place.