Millhouse

Interesting (to me at least) chart showing the connection between oil prices and the UAE population.

mission

err I don't dig graphs....what's the graph say??

norsk

Agreed.

The correlation won't be perfect and obviously there is a delay, but future decline in population is pretty much guaranteed I would think.

iggle

Whats the future for UAE with the potential low oil for a long time?

1 year
2/3 year
5 year
10 year

Meow

That graph does not show any dips when oil prices have declined so surely it shows that the economy is not as dependent on oil as people might think? Dubai certainly isn't dependent on oil.

iggle

Directly no, indirectly 100000000% yes.

KJinDoha

I guess that we all knew about this correlation anyway.

What would be more interesting is a separate Dubai and Abu Dhabi graph, to indicate the extent of success for Dubai's diversification and indicate the future of each place, which I think could be quite telling. There if of course the fundamental UAE intra-reliance, which only time can expose.

And then, at least for Qatar, it would be interesting to see this split by work force (i.e. professional / service / labour) because here in Doha there seems to have been a big reduction in the professional work force but an increase in the labour work force therefore an overall slight growth.

Does anyone know where we could source this info?

Regards,
KJ

Meow

No it isn't.

Leave the sensible discussion to the grown ups.

Meow

I am sure there's quite a difference between the various Emirates. That would be quite interesting.

DXBtoDOH

Dubai is affected by oil prices via indirect investment from other oil rich countries, but it's not the whole story. It's better positioned to ride out the oil glut, which it seems to be doing successfully so far. AD and Doha are becoming ghost towns while Dubai seems barely affected.

iggle

Don't be so rude, and get of your high horse.

With the majority of the investors to Dubai reliant on oil for their own funds, Dubai is reliant on oil prices indirectly. That leaves with no potential external investment from the Middle East, therefore no additional funding for new buildings.

Alot of subcontractors and contractors i know are suffering extremely tight cash flow, why because the clients aren't paying. UAE will feel 100% the affect of Saudi Oger and Bin Laden Construction collapsing, not only will there be large portion of staff looking for new works (ie wages here will potentially go down) but also it shows that there wont be any Saudi investment here in the UAE

Dubai is 100% reliant on oil prices, they maybe not pumping out their own barrels like Abu, but indirectly they need the barrel to be high.

iggle

at 7am Salam street is definitely not a ghost town. It's like a car park.

Meow

Not rude, just factual and that's quite preposterous coming from you with your persistent childish and misogynistic comments and fictitious claims.

You know so very little, far less than your ego will admit, and the posters on this forum are laughing at you (not with you) every day.

iggle

Fine, enlighten me. Why are clients in Dubai not paying Contractors then, if it has nothing to do with the low price of oil (Make it very clear I am saying its indirectly being affected)

KJinDoha

I agree. And I hope that doesn't alienate me.

Also, I don't think that population growth in the UAE is in correlation with economic growth IF the population is growing due to the incoming 'low economic value residents' outnumbering the outgoing 'high economic value residents'.