Dubai & The Financial Crisis

All around the world countries have been hit badly by the financial crisis. People being laid off, companies going bust and houses stand empty like ghost houses from a Hollywood movie. Occasionally, you hear a comment here and there, about Ford, Lehmann Brothers, even Iceland. Not to mention the overwhelming amount of news you get fed daily about the effect of the crisis on the United States, which sometimes gives me the feeling that I’m actually living in an American State! Although it is probably safe to say that this feeling is not totally imaginary. On the other hand, for some reason you can feel that everyone have something to say about Dubai. They are all pundits and experts, and have the sight and the wisdom needed if they were asked to steer the city in the right direction.                                                                                                                                                                                

I can understand some of those people. It’s competition. Europe, Canada & The US started losing people to this city. Not those fat asses and useless people we used to get in the Gulf in the past, but actually people with skills, who can contribute to the place. Companies started coming here and sitting up headquarters, factories and logistic centers, as they realized that this is where growth is happening, or at least this is the closest point to where it’s happening. However, the part that I don’t understand, is how some of the city’s neighbors sound so wise and all knowing now. Everybody is cursing the boom, and everyone had anticipated at one point of time that this city is going back to the ground. Sand as it was once before. My question to those is, what is your alternative for Dubai? And if this city is going to go down, where else are you going to find a place that pays you that much and offers you this lifestyle!? Saudi? Kuwait? Oman? Jordan? Lebanon? Egypt? Or maybe the right choice is Qatar! A place where Jordanians and Egyptians are currently denied visas. A place where you still need the permission of your sponsor to go back home for a vacation!

Everyone now is critical of what Dubai did. I remember six months ago everyone was in owe, and many where envious! Now, they are like hyenas waiting to quench their thirst! Not with their success god forbids! But with the anticipated failure of others!                                                                                                                                                                                

For the good of everyone, this city should not go down. Because if it did, we will all go back to working as slaves in KSA, Kuwait & Qatar! Begging our sponsors for a holiday to spend at home. Suffering every time we want to change jobs. Living like prisoners in our homes because we don’t feel the freedom and the security we used to feel in Dubai!

But if you think about it for a while you realize that this city is not going back to the dark ages! It has the infrastructure needed for a business hub, and for a tourists’ destination. It might and actually did slow down, but as everything else, nothing lasts forever. That is why it was called a boom. They will have to adjust. The correction will take its course and things will and should pick up again. At that point of time, if any multinational thinks of establishing headquarter here, or focus on this market they will do it from Dubai. Simply because there is no other option! You may search for it as much as you want, but other than Dubai & Abu Dhabi, and I think they will do themselves a favor if they actually start giving those who lived here for 10 years or more passports or permanent visas “Something similar to a green card” because on the long run people will need more reasons to stay other than work!                                                                                                                                                                                      

I don’t see where else it can happen. Qatar? Well, maybe. But they need to start treating expats as humans more.                               

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