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I was thinking of Yemen, Oman and Somalia, though now that I look at a map I see they're not technically on the Persian Gulf.
I've heard good things about Dubai, but not enough to do a serious comparison between it and other countries.
Ideally, Dubai and Singapore would both set up thalassocracies, competing in a friendly way for trade and citizens. Their cities could be adjacent to one another, kind of like Burger King and McDonalds.
(To do so would be a category error, because Dubai is in fact a city -- and, unlike Singapore, not an independent one. The country it's in is called the United Arab Emirates.)