Ahead of the World Curve - Dubai's Economic Growth at a Glance

Allow me to take a bloggers prerogative and relate what I have found to be reasons for Dubai’s astounding economic growth, which were not apparent to this Midwestern boy prior to our Arab Emirate travel initiative.



Drive around the city and you see 26 – 30% of all the construction cranes in the world located here in a country slightly smaller than the state of Maine. They have more 5 star hotels inside of a city the size of San Diego than we have in all of California. Dubailand, which is the new amusement park coming to Dubai, will be 3 times the size of Disneyworld with 5 times the activities, attractions, and hotel properties. Dubai is the third largest re-export hub in the world after Hong Kong and Singapore.

~ Dubai’s wealth is derived from investment and strategic vision. Oil has been a form of venture capital but with comparatively little oil reserves it had to propel its economy in other ways.
~ A lineage of strategic thinkers kept Dubai ahead of the curve when it came to commerce. Beginning with the dredging of the Khor in the 40's to allow for shipping traffic. Dubai also established an economic free zone to allow foreign company investment without undue taxation, sanctions, and restrictions. Modern airports, desalination of water, a “build it and they will come” mindset, catering to the leisure traveler’s taste for luxury in goods, services, food, and entertainment.
~ The list goes on to include, unsurpassed personal safety and an ability to come into the country without waiting 3 to 6 months for a VISA.

All of the aforementioned would not drive this little kingdom though without the key reason for economic growth, the old real estate adage; location, location, location. As a US citizen with family heritage dating into the 1700’s I know the prevalent feeling in our country is we are the center of the earth economically, geographically,… However, little Dubai sits 3 to 5 hours of flying time from 3 BILLION people. How close is the US to that kind of economic prowess? Make no mistake Dubai has been hit every bit as hard in this tumultuous economy as the rest of the world. However, I believe that a truly centralized geographic location coupled with an insatiable “strategic” appetite for commerce will see Dubai through and lift it back up economically ahead of the world curve.