In Revelation, Babylon is described as a prosperous city, which God will destroy in one day (See Revelation 18 and other passages.)
According to an email I received, the ancient site of Babylon looks like this right now:

You can see a satellite image of this area south of Baghdad and just north of Al Hillah on the Euphrates with just a little bit of googling.
Some of what you see in this photo was restored by archaeologists, but Saddam Hussein just built on top of historical sites. Hussein likened himself to Nebuchaddnezzar and was rebuilding Bablylon.
How could this place become a major, bustling city as prophesied in Revelation 18? The recent growth of Dubai gives us insight into this question. See the tremendous growth and luxury of Dubai at this Slide show of Dubai. You can also see related slide shows about Dubai on the right-hand side of these web site.
The idea here is that it would not necessarily take very long for Babylon to become a major urban center.
Also check out the photo gallery for Ski Dubai or the Burj Al Arab hotel.)
I would like to say that I think that the Babylon that shall be destroyed is not the old Babylon, which was destroyed already.
This mystery Babylon is very complex, is a commercial and shipping and banking centre in the world. There are also some reliogious centres or temples in Babylon. However, because of the merchants mentioned in the Bible, Babylon is a trading centre, dealing with all nations of the World. It is the home of the AntiChrist.
The Anti Christ is a ruler, or recognised as such and will be a world King and ruler. So that removes the suggestion that Babylon is in Iraq. This Babylon is a centre of Satanism, Occultism as well as sorceries. It is called Mystery Babylon, to mean only the wise will identify it accurately, one day.
I humbly submit this short comment.
Jay Cee.
The only nation that fits this discription today is America.
this is a buch of bull sh!t just kidding i needed this for my report thanks for helping
Glad to help, James. Any questions, just send them along.