Dubai has been all over the news this past week due to the Dubai World $60 billion debt debacle… thankfully, fears seem to have eased a bit after a report from Dubai World that it had begun ‘constructive’ discussions with its creditors.
A couple quick notes on the issue:
1) Contrary to popular belief, I did not ‘break’ my new city. I don’t think so, anyways.
2) I still have a job, and an office.
3) There hasn’t been a mass exodus of ex-pat workers as a result of this recent development. The exodus has already happened… while organizations may be extra-cautious over the next few months, any exodus would probably be more of a trickle over a period of several months.
For those interested, this is the best article I’ve come across… it’s a very easy read and gives good background information
According to local reports, the city will rebound! Time will tell...
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