The development of Abu Dhabi and Dubai during past years seems breathtaking. Both emirates pursue a strategy of diversifying their economic structure and thus of becoming less dependent on oil and gas. The obvious goal is to secure their prosperity for an era beyond oil. Diversification is a relevant strategic imperative for other resource-rich developing countries, too. In view of the current transformation processes in Arab countries the question whether differing strategies of the two emirates can pose a model for other countries becomes highly significant.