The whole world is out of the financial crisis but Dubai is still under financial pressure. It is because Dubai stands among those countries which got affected the most due to the global financial crisis. A lot of construction projects got halted, many companies went bankrupt and thousands of people left Dubai.
The real estate sector of Dubai is the single sector which had to suffer the most during the financial crisis. But now things are getting better day by day for Dubai and the Government has taken real positive steps to fight any such conditions in future. People who want to go Dubai and get settled over there for doing job should understand that Dubai is not a place for those who do job. No doubt Dubai is a global business hub and its long term future is bright but currently it has nothing to give to the working class. The house rents are high, utility bills are high and the over all cost of living is relatively higher than other GCC countries. Therefore people who want to go middle east should stop thinking about Dubai and should go to countries like Saudi Arabia, Qatar, Kuwait and Oman where people have more secured jobs, living cost is less and risk is less.
Dubai will no doubt again emerge huge on the scene but currently it is not a place for people who want to do job in Dubai.
I have been reading about dubai economy and its true it is sill under financial pressure. But still I applied for an acountancy job in Dubai and I did got a positive response.
ReplyDeleteI hope to see dubai economy on boom again as financial crisis is effecting people like me too.
Thanks,
Shehryar Nawaz