As you know, Mike has been in Dubai and Abu Dhabi for the last week and a half. This trip is geared far more toward business, so no crazy camel rides to report. However, Mike has gained an interesting perspective on business in that part of the world. Below are some of his comments and observations. The picture to the right is a view from the balcony at the Emirates Towers. I think this one is worth those thousand words! Doing business in the Middle East:
· Getting accustomed to the 11 hour difference was really tough. Just like last time I was 4 days before I slept a normal night through. Then when you are reading emails everyone you are talking with is getting ready for bed.
· Can’t begin without mentioning the heat. It has been 31- 32 degrees centigrade here which is about 90 in Fahrenheit but because of the extreme humidity it feels like a hundred plus. Tough walking around in a suit and tie. Makes you appreciate the “white” Arab dress for men and feel sorry for the “black” Arab dress for women.
· All public areas in the hotels are Videotaped. Which shows you when you misplace a cell phone like I did who picked it up. In some cases like our guide Muhammed who lost his cell. He saw a woman take it, leave the hotel, and head to the airport.
· The lobby meeting (see pic) is something they have turned into a profit center. Everyone gets tea or soda and munches on dates or crackers. Doesn’t seem like much but will cost you an average of $30 or 100 Dirhams to sit there and there are as many as 20 meetings going on at any given time.
· Can’t get used to the lack of women workers. 80% male in Dubai.· Most expatriates here send money back home to Pakistan, India, Philippines, Vietnam… The amount is usually about half their income. When you have casual conversations they invariably ask about Obama and his policies. I note that the world seems to be very happy to have him as our new President. My caution is his economic policy being very liberal leaning and eventually will reflect a Social structure.
Dubai is one of the leading financial hub spots across the globe. This is what makes it an interesting place for corporate banking. And not just the corporate one but it also paves way for personal bank accounts. Irrespective of whether you are a certified resident of the country or a non-resident, you can avail of the best accounting services in Dubai.
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