The city is bristling again. As the gates of the World Expo open to welcome the world, Dubai stands on the cusp of reinventing itself once again for the future, increasingly asserting its importance in the world of commerce and life.
As asset prices rebound and the city roars back to life in all of its vigor, the stage is set for a transformation of industries as wide ranging as fintech to food production, while the superior infrastructure that has been set in place serves as a pillar for creativity to unleash its forces through the local, regional and the world economy.
During the worst period of Covid, Dubai (just like the world) reeked of loneliness, with people sitting immobile and lost in their own worlds. That memory seems to be a distant nightmare as one walks around the city, feeling its energy and optimism of its recent immigrants and residents.
Henry James spoke of the “multitudinous movement of the serried bristling city” back in 1904, but it applies more than anywhere else to Dubai. There is no doubt that challenges remain - from debt restructurings to job creation at the rate that the city has been historically used to - and certain pockets of the economy continue to require support from regulators and banks.
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