Dubai making money on tourism

Discussion in 'General Trading Discussion' started by waseem59, May 10, 2014.

  1. Peninha

    Peninha Senior Investor

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    Dubai has all the attractions of an modern country, plus, it's in Asia. Also, it has great beaches so nothing is missing in Dubai as a good touristic destination.
     
  2. springbreeze

    springbreeze Well-Known Member

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    For all those that are asking what to invest in Dubai, for the bit I know, Dubai is good for oil, real-estate, and luxury products. It attracts a lot of people from around the world wanting a Middle Eastern experience without most of the hassle. Yes, they have some restrictions due to Islam, but it's not as strict as other countries. And it's safer. So, people looking for adventure (in their lifetime) think it's worth the small hassle.

    Also, it boasts some of the most luxurious, beautiful. and tallest buildings in the world. The royal family and government has done a great job at re-facing the city. And in such a short period. It's brilliant, really.

    The only concern is so far Dubai caters to the rich and not the average Westerner. Prices are high. It comes-off as ultra luxurious. It's the Middle East and so carries the current negative stigma of that region. So that means their tourist reach is limited.

    It also struggled when the rest of the world's economy declined because a lot of their profit is based on luxury item and real-estate sale to tourists, and tourism.
     
  3. Strykstar

    Strykstar Well-Known Member

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    Does anyone know how working in Dubai is?
    I mean the ratio of average salary to cost of living. I always hear that you're well paid but if the cost of living is too high then it balances it out...
     
  4. springbreeze

    springbreeze Well-Known Member

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    It depends on what you're doing, your qualifications, where you come from, and where you studied.

    They pay their construction workers and other menial laborers very low. This has created some social and housing problems. Qualified businessmen from the West and the Emirates get paid high salaries. It really just depends on you and the position you want.
     
  5. wulfman

    wulfman Guest

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    yep they pay lower class very low. basically peanuts. i was at their airport while stopping on my way to India and there were these 10 year old kids working in the bathroom . I asked them how many hours do you guys work. They said usually 10-12 and I forgot how much he made but it was ridiculously low compared to the cost of living in Dubai.
     
  6. idigress1337

    idigress1337 Member

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    What exactly is going to happen to that part of the world once they run out of oil? I heard there leaders have investments else where in the world.
     
  7. springbreeze

    springbreeze Well-Known Member

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    That's been my concern too. I don't think many of them are ready for this possibility. And all of the in-fighting and religious extremism going on isn't helping. They are now having to re-direct their attention. This is slowing down any growth.

    Religion should have no place in business and politics if you're looking to progress.

    With all that said, I think Dubai is properly preparing themselves for this eventuality. They have been marketing themselves as the Cannes of the Middle East. And now look how many Westerners have not only heard of them but also want to visit. It's really remarkable.

    They are also focused on educating their people. They understand that education allows progress. And they also understand that sharing some of the profits instead of hoarding it for a few helps create stability as well as supports progress. Also to encourage further development, they are inviting top professionals from different job sectors in the West to work with them. I know of a Canadian who was approached by Dubai's airline Emirates this summer.
     
  8. wulfman

    wulfman Guest

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    They better have future investment plans ! Entire middle east will be poverty stricken and all those extravagant infrastructures torn down without oil money. Tourism can only generate so much. Immigration would stop or come to a stand still as well.
     
  9. Profit5500

    Profit5500 Senior Investor

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    Wait ten year old kids working in the airport bathrooms in Dubai? I never been to Dubai so I don't know their culture and how things are run there. Those poor kids working for a full day for low wages at ten years old.
     
  10. JR Ewing

    JR Ewing Super Moderator Staff Member

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    I agree with you.
     

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