Dubai making money on tourism

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

  1. Zix

    Zix Guest

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    It is no wonder that Dubai with its beautiful coast and architecture make a lot of money through tourism. Citizens of Dubai invest a big money in infrastructure, buildings, and luxury. They have made one of the most beautiful areas in the world. I have never been there, but when I look Dubai on TV and photos, it looks really amazing. Its hotels look totally incredible, like on some other planet, so it is unreal. Beside of this, Dubai has some other advantages. One of the advantages is that Dubai is a tax haven area, so many people have come to Dubai to start businesses. 88% of all residents in Dubai are foreginers. I did not know that, but recently I found out.
     
  2. Rainman

    Rainman Senior Investor

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    The rich people would just move out. However they have no reason to be worried yet. Estimates have it that it would take 275 years to exhaust all oil and natural gas reserves on earth and by that time those who relied on oil would have diversified their investments and be able to get by without oil. As a matter of fact, before long, eco-friendly alternative energy sources will see to it that oil producing nations make very little money from oil.
     
  3. gats

    gats Senior Investor

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    Yeah, I see fuel alternatives becoming viable before the earth's oil runs out. The country of UAE and other countries dependant on oil will probably stagnate eventually, but the wealthy families will probably still remain rich.
     
  4. Onionman

    Onionman Senior Investor

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    It sounds like a great place to visit - I've only made it as far as the airport a couple of times but friends of mine have been for mini breaks. The shopping and facilities are supposed to be first class. It does sound extraordinarily man-made and constructed, but I suppose it has to be because it's essentially a desert. For it all to be sustainable, however, you've got to keep an eye on the real estate market, which in turn does get some benefit from the petrodollar elsewhere in the region.
     
  5. SamClemensMT

    SamClemensMT Well-Known Member

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    The jury is still out on this project if you ask me. The U.A.E government understood that their oil was drying up, and without it their's would become a desert kingdom. Making the country into a play ground probably won't work, but it could succeed as a center of what is known as Islamic finance. This is a particular system of finance which Muslims will be attracted to. Thus in addition to London, Frankfurt, New York, Singapore, Hong Kong, and Tokyo. We could add Dubai, because it is likely to become the financial center of the Islamic World. http://en.wikipedia.org/wiki/Islamic_banking
     
  6. JoshPosh

    JoshPosh Guest

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    They are shifting to tourism because the oil is starting to dry up. To think that there is an endless supply of oil is crazy. It is getting harder to find. So prices will go up, and dubai is diversifying its income and business ventures, because it knows something that we don't.
     
  7. shilpa123

    shilpa123 Banned

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    I believe tourism has prospered a lot due to the monument and culture that is seen in dubai. People from all over the world are interested to know more about the culture of dubai. It is a beautiful city with lots of culture and things to see. I think people from all over the world enjoy coming to dubai.
     
  8. SamClemensMT

    SamClemensMT Well-Known Member

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    I've been told that if you are from the West, or if you don't know about the norms of their culture, you need to be very careful. People have been arrested for having sex on the beach. Funny until you understand that this led to them losing their businesses and their homes which they paid hundred of thousands of dollars for. All that glitters is not gold. It's never good to live in a country with a king. I'll invest where democracy is practiced. So, U.A.E no thanks.
    [​IMG]
     
  9. SamClemensMT

    SamClemensMT Well-Known Member

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    Yeah the people will be left to eat sand. While the royal family slowly spends the wealth that's been pumped out of the ground since the 60's. This may be fun for now, but Dubai is one serious recession away from becoming a ghost town. What they are building can be replicated in Hawaii, American Samoa, The U.S. Virgin Islands, The Florida Keys. Plus you get a democratic government with legal protection against capricious seizure of your property. Even better if you're already a U.S. citizen. No thanks Dubai.
     
  10. missbishi

    missbishi Well-Known Member

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    I've heard similar horror stories myself. Whilst there is no doubt that Dubai is an impressive and luxurious destination, the laws that preside really discourage me from visiting. I imagine many people feel the same. OK, I know we should respect the laws and values of any country we visit but the laws in the U.A.E. are so prohibitive that it's hard to see how I would have a good time.

    The man-made feel is also off-putting. There are so many other destinations where you can enjoy both luxury and natural beauty, whilst retaining your freedom. I think they won't be able to maximise the revenue gained from tourism until changes are made.
     

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