Sunday 3 April 2011

Dubai sees growth due to regional uprisings | Australian News.Net

Regional political turmoil in the Middle East has unexpectedly reversed the fortunes of Dubai in the United Arab Emirates, with tourists, businessmen and investors seeing the emirate as a safe-haven once more.

In 2008 and through 2009 Dubai suffered a spectacular debt-crisis, which saw the boom-town experience capital flight as investors shied away, while unemployment rose, tourist numbers plummeted and hotel rooms went empty.

But, now Dubai is seen as a safe investment once more and businesses effected by instability in Bahrain, Egypt, Syria, Yemen and Jordan are relocating employees to the emirate, while businessmen are closing regional deals at Dubai hotels, rather than in protest-prone neighbouring countries.

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