Dubai / uae

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Jul 19, 2010 | 01:39 PM

twoblacklines

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From: Chester, UK

Dubai / uae

I have a question, i guess its hypothetical but ill progress.

Whats going to happen to Dubai etc when they run out of oil ?

Do you think with no income they will just be fucked ? i was looking at the houses for sale, they promise alot but dont seem to back it up, the whole place just screams FAKE.

So when they run out of oil, whats going to happen to them ?

Jul 19, 2010 | 01:42 PM

Chip

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Without oil, they are going to be well and truely fucked, their entire economy is strongly built around the money coming in from it, sure they have tourism etc now, but it only works by being so massively subsidised by oil in the first place, but I suspect they have a LOT more oil than most people would estimate anyway.

Bet that it doesnt happen in our lifetime mate.

Jul 19, 2010 | 01:46 PM

lead_foot

is awesome

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From: Chesham, Bucks

Either

Quote:

"You know what the business community thinks of you? They think that a hundred years ago you were living in tents out here in the desert chopping each other's heads off and that's where you'll be in another hundred years."

Quote:

Its abu dhabi where the oil is, Dubai's income are mostly from Tourism and Real Estate, Dubai will survive, lets just hope that there will be enough foreigners and expats to occupy the villas and apartments they are making. There are some rumors that Dubai will be hosting the Olympics and that's good.

Jul 19, 2010 | 01:55 PM

Chip

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That whole region is very oil-centric with their money, some more directly than others, but every industry that is performing well its largely due to the massive excess of cash that people have as a result of the oil IMHO, which includes the local tourists if not the EU and US ones.