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Description
Dubai and Mumbai are two of the most important financial and business hubs in Asia, but their economies are very different in size, structure, and nature. Dubai’s economy is known for being highly developed and diversified. Although the United Arab Emirates was once dependent on oil, Dubai now earns almost all of its income from trade, tourism, real estate, finance, and logistics. In early 2025, Dubai’s economy was valued at roughly 120 billion dirhams for just the first quarter of the year, which means the city’s annual GDP would be around 120 to 130 billion U.S. dollars. Because the population is relatively small, Dubai’s income per person is quite high, and living standards are comparable to other major global cities. Mumbai, on the other hand, has a much larger and more complex economy. It is often called the financial capital of India and is home to the country’s biggest stock exchanges, banks, and corporate headquarters. The city also has major industries in entertainment, media, manufacturing, and trade. Estimates suggest that Mumbai’s overall GDP is between 280 and 400 billion U.S. dollars, making it one of the largest city economies in the world. However, since the city’s population is huge, the GDP per person is far lower than in Dubai. When comparing the two, Mumbai’s total economy is bigger because of its vast size and population, while Dubai’s economy is smaller but much wealthier on a per-person basis. Dubai has modern infrastructure, global connectivity, and...