People aspire of prosperity life

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Is Dubai Playing It Right!

Nowadays there doesn’t seem to be an end to human needs. People aspire for prosperity prosperous life, a good job, a good house, to drive a well manufactured car, and even to have a huge Bank account!!

These aims may be a little bit crashed because of the economic crisis that has recently hit the world. Many countries after this crisis tried to recover and rebuilt their economy and return to be stronger and face this crisis. Others couldn’t do that as this economy crisis hit it very hard as this country resources are not good enough or rich enough to get over it. From the countries that were hit by this economic crisis is Dubai. "Dubai is a very fast growing country economically, it is the meeting point between the East and the West, it links between western modern life and eastern hospitality. Dubai is one of the seven emirates of the United Arab Emirates UAE. There is nothing you can’t find in Dubai from beautiful beaches and clear aqua blue seas to indoor activities, an underwater hotel and skyscrapers, there is never a shortage of things to do in Dubai. It has the biggest airport in the world, the largest man-made port in the world, the largest Mall in the world, the only 7 Stars Hotel in the World, the largest Skyscraper in the world and finally the largest Theme Park in the world which is about 3 times bigger in size than Disney World in Orlando !!" as came in The question is; is it a right way to become a leading economic country at this short time? People might think that it is not the best path for development; because there are some barriers. First, resources being under stress. Second, large amounts of loans leading to debts, and Third, people that might lose their jobs and companies that might shut down if the economy falls down.

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One of the reasons that support this point of view is that any developing country it should have enough resources for investment especially if we are talking about the UAE, many of these countries contain Oil resources except Dubai "This city state is purely a business city wholly depending upon tourism and other business. Dubai World, attract world entrepreneurs that started spending more and more on building fine roads, and 7 Star Hotels." Prasadjain said in an article entitled "Financial crisis in Dubai, reasons and effects." So Dubai is not an Oil Country and depend mainly on money that it earns from these investments especially tourism sector. " But immediately after this economic crisis a rumor spread that after the Atlantis opening ( which cost about 1.5Bn Dollars ) the hotel was only charging 10 percent of the original price and has only about 26 percent occupancy as mentioned in "Diversification Dubai’s Downfall"

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