Dubai Tourism 2010

Dubai Tourism 2010

“Nowhere Like Dubai” is the official slogan of the Dubai tourism department, and unlike most locations that claim this moniker, Dubai truly is like nowhere else on earth. What was originally a small fishing community is now a world-class city that features amazing accommodations and tourist activities.
Although a very new city, many visitors are not aware, until they visit, that Dubai has a rich history and cultural heritage. In fact, archaeologists have found evidence of human settlement in the area from as far back as 4,000 years. More recently, though, the city of Dubai can be traced to around 1830 when it was founded among a string of over fishing locales along the gulf coast. Many prized historical items can be found in Dubai's city museum.
Admittedly, however, most tourists are attracted to Dubai not because of its deep historical roots, but rather to its world renowned sites that truly baffle the visitors' imaginations. Some of these locations include absolutely astounding shopping and entertainment opportunities. There are mind-blowing attractions such as the Dubai Marina, set to be the worlds largest marina and built in the shape of a palm tree, the Burj Dubai which will be the worlds tallest skyscraper at an astounding 2,684 feet (818 meters), and Dubiaiand, an entertainment complex complete with six zones or worlds including the Eco-Tourism, Sports, Retail and Entertainment, and Downtown worlds. Within the city there are thousands of unique dining experiences for every taste and palette.
In just 30 years, Dubai has transformed itself from a regional center to a worldwide one, where visitors from around the world come to take in the fabulous sites, and tickle all of their senses. With a population of over 2 million people, Dubai is truly one of the worlds wonders with its feast of world class offerings.
Photo by Britrob http://www.flickr.com/photos/rpoll/3147786823/sizes/l/

Is Dubai Officially Bankrupt

Is Dubai Officially Bankrupt?

World markets are in a tremor with the news that Dubai may be going bankrupt, but like so many news items, this may be another one where the announcements by media are exaggerated, and so, too, are the reactions. In times like these, it is important to take a deep breath and ask some critical questions. Namely, does the announcement made by Dubai mean inevitable bankruptcy, and, if so, how would that affect plans to visit and/or invest in this state-of-the-art city.

The bottom line is that the rumors aren't true. Dubai is not bankrupt, nor is that necessarily an inevitability. Basically what has happened is that Dubai was going to ask its creditors to suspend payments on its $60 billion of debt for at least six months. In a panic reaction, some world stock markets 'crashed,' including in India, fearing the worst.

The Dubai World conglomerate has many financial interests, and in a wide variety of projects and locations. Dubai itself is one of its crown jewels, both a tourist mecca and financial powerhouse. Dubai World conglomerate is highly unlikely to 'go under' since it has a business partner and fellow emerite called Abu Dhabi, which has already bailed out its 'younger brother' earlier in November.

In fact, most financial analysts are predicting long-term financial health for Dubai since this particular 'bump' is an indication of its cleaning up its debt-heavy standing. So, the predictions of the worst-case scenario are premature, and can be quite damaging, as it plants fear in potential investors, and in tourists who might have been considering an adventure to this exotic city.

Dubai is a huge, flashy and exciting city; their future is secured in the short-term, and also the long-term. The wise investor, in fact, would look at this recent announcement as an amazing opportunity to reap the rewards of patience, and the hesitant tourist would also benefit from the city's desire to work even harder to please its visitors.