In recent years, Dubai has been able to build up its city to become a prominent business hub. There are many reasons for Dubai's success. One of those is their finding of oil. Using the oil, they were able to use this as a source of showing that they have things to offer as a city.
Along with that, they built up the city to become a popular tourist spot. One of the things they focused on building throughout the city was skyscrapers. They have quickly built enough skyscrapers to have the third most skyscrapers in the world. They also built the highest skyscraper.
Dubai became a prominent business hub because it has initiative and a little luck too. It used to be a fishing port and then became a hot trade port, but when oil boomed, so did Dubai. They also are big in tourism. They cater to those who want to visit their city, be it for the markets which great shopping can be found within, or the malls that are experience many long to have, or the sightseeing of the skyscrapers. They make visitors feel welcome and make them want to return.
The big break was oil and being a hub for oil, but the bottom line is that they have always strived to go farther and to do better and so, they have succeeded. Oil just made them a bit luckier. They never monopolized on the oil, but instead, they made it to where they could diversify even further. The business minds within the city planning are genius level and always have been throughout time.