Facts and Impressions

Submitted by Ken Wise (United Arab Emirates), Mar 21, 2009 at 07:50

The story in The National is credible. The stories in Financial Times and New York Times and endless blogs implying that the 3,000 cars had been abandoned in a one month period were not. In recent weeks the news media have begun to rediscover the real Dubai: the traffic remains heavy but several places that used to jam now are eased by the opening of new bridges and overpasses and a tunnel. Retail sales and hotel occupancies have slumped, but probably no more than elsewhere in the world.

Getting data out of the governments of the emirates and the capital to demonostrate this continually challenges The National but they are getting better continually and the governments in Dubai and the capital at least acknowledge that they need to improve communication, both among themselves and with the media. In sum, US Ambassador to the UAE (Olson) had it right the other day when he said that Dubai and the UAE would probably lead the global recovery.

Stay tuned for a reality check, those of you who felt glee when you thought that Dubai was finished. Those in the UAE who feel gloom are those now unemployed or financially hit because of constuction halts. Persons who expect to get richer and richer do not take kindly to the escalator's coming to a sudden stop. Pity. Now they have to take the steps along with everyone else...but only for a little while.

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