Dubai is the second largest emirate of the UAE and city of sky scrapers. In the past, it was just a fishing village that gradually turned into a thriving market for Arabian pearls. With the introduction of the Japanese artificial pearls in 1930, the natural pearl industry at the Dubai Creek was struggling to keep up. Declining demand of natural pearls forced Dubai to open a market for gold and spices. Eventually the success of the market added interesting developments. Port Rashid was dredged to create a sea port in order to bring in the cruise liners and ships hence increasing the number of customers for the market. Port Rashid was also offered as a tax free port for cargo ships.