UAE is the 7nth largest producer of Oil. We rank 17nth in term for GDP per capita. All this numbers suggest that people in Dubai have a lot of money. The local population comprises of 16.5% of the population, rest is expats.
The oil income goes to the government. This income is used for infrastructure. Majority of the big construction companies are owned by locals. Same with any other major industry. So basically the flow of money here is making Jobs for expats. This expats are keen to save and send the money to their country. They know sooner or later they have to settle there.
So a good part of the wealth is controlled by locals. Locals like to spend on luxury goods, the luxury goods store owner is again a local. As far as the needs of expats are concerned a lot of people are already doing it.
I am not sure what kind of business would thrive here. I am not sure if this is the rite business environment. I am not sure if this is the rite demographics.
First thing first , gold is too expensive and no one can afford. My goldsmith friends have all been complaining , there is no sales due to real high price. Its not just the gold price that has changed in the recent past. The very foundations of dubai have been shaken.
Since the melt down in 2008 , people are leaving and going. The population is decreasing. Landlords were doubling the rent once upon a time and now they are bringing it down just in hope some one takes their apartment. All the buildings have the ‘To Let’ sign. ( What goes around , comes around , Bitches ! )
I really don’t blame the people that have left. The salaries are the same , cost of living is high and the best part they are getting almost the same amount back in India where the cost of living is a little less too. Why wouldn’t they swap ?
People who have stayed back are actually people who have been here for more than 10-20 years. They are not happy here either. Things can’t really go far when your expatriate or working population is not happy with the developments .
After a hell lot of drilling and lot of traffic diversion and congestion the high tech wonder, the dubai metro is finally out.It kinda slipped out of my head though today was 9/9/09. I was in the gym ( Geeks work out too , some times 😛 ) and they were streaming it live on the tv. . The Dubai sheik was walking along with other fellows in white kandhuras.
They made him wait till it was 9.09 PM and then he swipes his card and all the media camera’s were flashing *Jig**Jig* ( Not sure if that was the kind of sound , but let it be that way ) . He boards the metro along with other people. The thing that caught my attention was, that a good number of arabs were standing while traveling. I am really thinking, would arabs use metro later? I don’t think so .
Now metro is up and they’ve got all this special buses running to compliment traveling by metro. What does this indicate? they are surely gonna do something to curb the number of passenger vehicles on the road some time soon. They might do it by increasing some registration charges bla bla bla, i am sure they will find something.
Arabs are surely not gonna be affected by this ( they have way too much money and influence to care enough…) . So where does it all come down to ? Yes to us , the expats. I am sure everything is planned and they are just waiting for the right time.