withdrew their trade, but subsequently the city recovered in a changing political climate and thrived.
Today, Dubai City has emerged as a global city and a business hub. Although Dubai's economy was built on the oil industry, the emirate's model of business drives its economy, with the effect that its main revenues are now from tourism, real estate, and financial services, similar to that of Western countries. Dubai has recently attracted world attention through many innovative large construction projects and sports events. This increased attention has highlighted labour rights and human rights issues concerning its largely South Asian workforce. Dubai's property market experienced a major deterioration in 2008 and 2009 as a result of the worldwide economic downturn following the financial crisis of 2007–2012. As of 2012, Dubai is the 22nd most expensive city in the world and the most expensive city in the Middle East, surpassing Tel
