you guys are both correct and probably slightly incorrect about Dubai's role.
The Middle East is a funny place; there are a lot of individuals with a lot of money but throughout the Middle East there are few welcoming, comfortable places to spend it. This role was exclusively Lebanon's for decades: casinos, nightclubs, swimming with both sexes scantily clad, skiing, alcohol, hashish, sp's. In other words, safe, accepted commercial debauchery within a few hours or less of your own home, where you were welcome, spoke the language, knew the food, etc. Perfect.
Morocco inherited this role from Lebanon. The trouble was always twofold: Morocco is quite far from most of the MIddle East's moneyedclass, and more base, in the Middle East Morocco is seen sort of as rather low class, the street walker compared to the courtesan.
The amount of money these moneyed Middle Easterners throw around is staggering when they are away from the restrictions of home. The Dubai sheik may have commercail altruism at heart for his tiny country, but certainly he seems to be inheriting some of Lebanon and Morocco's provenance. It will be interesting to see if it sustains, his family clamps down on the excesses, or if it becomes more global than regional.