Ever since applying for the SIS Summer Abroad Program to the UAE in February, I have read and have received many conflicting reports on the impact of the worldwide financial crisis upon the economy in Dubai. After having spent a few days here in Dubai - seeing some of the city and meeting with such personalities as the COO of Goldman Sachs's regional office here in Dubai - I feel confident that while the pace of growth and development may have slowed, Dubai remains an attractive place for business and foreign direct investment. Not only is Dubai continuing to forge ahead with further infrastructure development (there are still an astounding amount of cranes that are in operation at all hours of the day), but as we are learning in our seminar, Dubai also has a long track record of weathering economic crises dating back hundreds of years.
Nowhere is this resilience more prevalent than at the creek, a water inlet that runs through the heart of the city. To this day, traditional dhows continue to import/exports good from countries throughout the region, and as far away as India and the coast of East Africa. The steadfastness and continuing entrepreneurship of these merchants is a strong indicator that, in my opinion, Dubai has many glory days yet to come.
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