Dubai (/duːˈbaɪ/ doo-BY; Arabic: دبي‎, romanized: Dubayy [dʊˈbajj], Gulf Arabic pronunciation: [dəˈbaj]) is the most populous city in the United Arab Emirates (UAE) and the capital of the Emirate of Dubai.[5][6][7] Located in the eastern part of the Arabian Peninsula on the coast of the Persian Gulf, Dubai aims to be the business hub of Western Asia.[8] It is also a major global transport hub for passengers and cargo.[9] Oil revenue helped accelerate the development of the city, which was already a major mercantile hub. Dubai's oil output made up 2.1 percent of the Persian Gulf emirate's economy in 2008.[10] A centre for regional and international trade since the early 20th century, Dubai's economy relies on revenues from trade, tourism, aviation, real estate, and financial services.[11][12][13][14] According to government data, the population of Dubai is estimated at around 3, 400, 800 as of 8 September 2020.[15