10 reasons why people continue to make Dubai their home
The media has been debating whether Dubai’s bubble is going to burst, but the emirate continues to attract people. Here’s why.
December 1, 2008 3:02 by kippreport
Although Dubai’s economic health is in question, thousands of people from across the world continue to move into the emirate. Here are 10 possible reasons why:
1. The tax-free structure. While value added tax (VAT) will be introduced in the UAE, the current system doesn’t involve any other taxation. So the money you earn goes straight into your own pocket.
2. The promise of growth. With its $20 million Atlantis, The Palm hotel launch party, Dubai showed the world that it is tiding over the economic slowdown successfully.
Mohammed Alabbar, chairman of Dubai government’s Financial Advisory Council, recently said that Dubai held $90 billion in government assets and $260 billion in assets belonging to state-affiliated companies, enough to pay up all its debts.
3. A bright future. The city is still developing; as it expands, it’s bound to provide more job opportunities.
The per capita income in the UAE more than doubled rising from AED 81,000 in 2000 to AED 167000 in 2007, an 11 percent annual growth rate.
4. Latest infrastructure. Once the $4.2 billion Dubai Metro is complete, it is projected to serve approximately 1.2 million passengers on an average day. Dubai is also constructing the new Al Maktoum International Airport, which is four times bigger than the new Hong Kong Airport, and will handle more than 120 million passengers a year when ready.
5. A glamorous lifestyle. Home to the world’s largest shopping mall, The Dubai Mall and lavish hotels like the Burj Al Arab and Atlantis, The Palm, Dubai is a haven for shopaholics and luxury lovers…if they can afford it.
6. A land of expatriates. More than three-fourths of Dubai’s population is made up of expatriates, which means there’s a good chance of mingling with people from numerous nationalities.
7. The weather. While some will disagree, many, especially Europeans come to Dubai for its bright and sunny disposition. However, no one finds the summer weather bearable.
8. Safety. Though the Middle East has been prone to political violence, the GCC has largely remained safe and secure from war and terrorism.
9. Great parks. Whether you are having a race with your buddy, playing a game of football with your kids, or just strolling through, Dubai’s parks are great way to cool off and have fun. And they are really huge.
10. Living among record-breakers. There’s always a corporation planning on beating some of the world’s most outrageous records, like the world’s largest acrylic panel (which can be seen in Dubai Mall). And, you also get to drive in front of the world’s tallest building, the Burj Dubai. – AN