Dubai has one of the fastest growing economies, what started as an oil and natural gas based economy evolved into a service and tourist oriented economy. This had led to high standards of living and increasingly towards luxury, opulence and lavinesh. Many expats will argue that the city is way too expensive for their means, which may be correct. Still will be a shame to miss out on what it seems to be a fairly unique experience.
Furthermore, if extravaganza is the name of the game you should definitely check out the scene out there. All those options available to you right there, concentrated in one multicultural city… it is a no brainer, ask anybody.