Dubai the beautiful and expensive place in the world is earning money on tourism. U.A.E (united arab emirates) in future will survive on tourism. many fun loving people from various parts of the world visit dubai. Tourism is the major part of profits now.
And what stocks would you say we advise in to take advantage of this fact? Any idea how real estate is in Dubai? It used to be pretty bad earlier after going through a boom. So bad, in fact, that that is what caused the economic crash there.
I always think that the main problem for Dubai to develop into a tourism destination is the laws that are in place there, some religious. I think there is still a ban on some things like homosexuality for example. They need to become more accepting of other cultures first, and only then will the other cultures visit there.
I really don't think Dubai is going to be a destination for the average American. Maybe outside of North America, Dubai is an attractive place to visit, but even then, I can't see it. Dubai just strikes me as a place full of crazy development and it feels a little odd.
Well I think they did a great job there. It was just another piece of desert land before they started investing in it. Now they're making good money out of tourism, and they've also managed to lure some foreign investors. It's paying off.
I have a friend who recently returned from a trip to Dubai. She said that the airport was just like walking through a mall of all the designer products a person could ever imagine. Sounds like someone could go broke before they even leave the airport. I agree that it is a very tourist related place.
I spent some time in the UAE, though only visited Dubai once. But they know that oil won't last forever and that is why they are building all these incredibly huge malls, tourist sights etc. They are planning on tourism being one of the income sources that will keep the country running when the black gold is out of play. It really is a nice place to visit.
The laws are not nearly as restrictive as the ones in Saudi Arabia, if you're confusing the two. For example, women have complete freedom (unlike in Saudi) and I think the rules that are there aren't too damaging, as there are quite a few foreigners visiting the city.
There are some laws in the UAE too which can make life a bit more difficult. However they are very lenient towards westeners and I never ran into any problems there with the law. Then again we have all heard of the stories... but in reality it's very unlikely that you will run into any problems.
