As we get into holiday mode in Dubai this year, we realize that all is not what it should be, considering this is holiday season and we are counting down to the new year. Dubai and its residents should be out celebrating. Not only has its winning bid of Expo 2020 capped another phenomenal year of achievements, but at the same time, created opportunities enough to ensure that its GDP just keeps ticking along in a healthy, upward staccato. But as I said, that is as it should be....
Some of the gloomy faces would quickly put paid to the hope that all is well. So what are our prime concerns?
One of the significant ones of course, is something that not just Dubai's residents, but our friends and relatives around the world are equally familiar with thanks to our continuous ranting and raving about the it all year long - yes, the infamous 'R' word - rents we are all quite sure are poised to rise again and this time minus the rent cap that the country's leadership, for ethical reasons as much as to keep the 'rabble-rousers' at peace has so far imposed, which permits landlords to raise rentsonly once in two years and then again not above a rental cap of 5%. All that we are told by skeptics is now a thing of the past. There are to be no more rent caps as Dubai fast-tracks on building and infrastructure projects in a race to meet its tryst with destiny. So what is to become of us, we ask? What will the poor person whose salary already does not keep pace with Dubai's exalted vision do? Well, say the skeptics with a shrug of their shoulders, you can always go home...?!
Another fear, also triggered by the rising expenditure that basic provisions seem to be hit by - if there was a littany of complaints about how little the value of a Dhs 100 bill is today, compared to what it used to help purchase once upon a time, today there is a stark and real fear as expats find their savings hit by rising prices across sectors - education, real estate, transporation, electricity and water and other utilities.....
So, what should the government do to allay such fears? As things are they do have to deal with some very real insecurities, which is only natural considering that the majority of their population is expat-driven. Today things seem stark for a lot of the doomsday theorists who are busy writing early obits to their time in Dubai, and are talking of leaving to head back to their hometowns.
"They don't need people like us anymore, they only want to bring in the tourists who are willing to spend and throw their money on the various built-in attractions." - As expats we have often heard these doom-and-gloom stories. What must also be remembered is simply this - while the rents might go up in the short term, and prices rise, we must keep the faith that Dubai's knowledge capital today is as much its human capital, the people who have worked hard to make the place what it is today. The truth remains that experience is a hard thing to replace. Expo 2020 will simply not turn out to be all that it is hyped up to be, if the people working towards making it a dream reality simply cease to be - or simply packed up and left. It is perhaps a good time to incentivise key opinion leaders in different sectors, and make them add their two bits towards the country's success. The time is now....even as the entire country gets ready to be part of...history in the making.
Some of the gloomy faces would quickly put paid to the hope that all is well. So what are our prime concerns?
One of the significant ones of course, is something that not just Dubai's residents, but our friends and relatives around the world are equally familiar with thanks to our continuous ranting and raving about the it all year long - yes, the infamous 'R' word - rents we are all quite sure are poised to rise again and this time minus the rent cap that the country's leadership, for ethical reasons as much as to keep the 'rabble-rousers' at peace has so far imposed, which permits landlords to raise rentsonly once in two years and then again not above a rental cap of 5%. All that we are told by skeptics is now a thing of the past. There are to be no more rent caps as Dubai fast-tracks on building and infrastructure projects in a race to meet its tryst with destiny. So what is to become of us, we ask? What will the poor person whose salary already does not keep pace with Dubai's exalted vision do? Well, say the skeptics with a shrug of their shoulders, you can always go home...?!
Another fear, also triggered by the rising expenditure that basic provisions seem to be hit by - if there was a littany of complaints about how little the value of a Dhs 100 bill is today, compared to what it used to help purchase once upon a time, today there is a stark and real fear as expats find their savings hit by rising prices across sectors - education, real estate, transporation, electricity and water and other utilities.....
So, what should the government do to allay such fears? As things are they do have to deal with some very real insecurities, which is only natural considering that the majority of their population is expat-driven. Today things seem stark for a lot of the doomsday theorists who are busy writing early obits to their time in Dubai, and are talking of leaving to head back to their hometowns.
"They don't need people like us anymore, they only want to bring in the tourists who are willing to spend and throw their money on the various built-in attractions." - As expats we have often heard these doom-and-gloom stories. What must also be remembered is simply this - while the rents might go up in the short term, and prices rise, we must keep the faith that Dubai's knowledge capital today is as much its human capital, the people who have worked hard to make the place what it is today. The truth remains that experience is a hard thing to replace. Expo 2020 will simply not turn out to be all that it is hyped up to be, if the people working towards making it a dream reality simply cease to be - or simply packed up and left. It is perhaps a good time to incentivise key opinion leaders in different sectors, and make them add their two bits towards the country's success. The time is now....even as the entire country gets ready to be part of...history in the making.