Dubai economy?
Oct 14th 2019, 6:08 pm
#16
Wannabe Cycling God
Joined: Jul 2009
Location: West Kensington, Dubai
Posts: 1,157
Re: Dubai economy?
I'm in Jeddah as I write this and cannot ever remember seeing it so quiet in the 20 years I've been coming here. I was in Dharan last week and the sentiment is definitely negative towards the economy, even among the Saudis.
I very much doubt Saudi will ever become Dubai, but for the construction folk, this could be the place to be for a few years.
I very much doubt Saudi will ever become Dubai, but for the construction folk, this could be the place to be for a few years.
Oct 14th 2019, 6:16 pm
#17
Joined: Feb 2010
Location: Buraydah , Saudi Arabia
Posts: 2,863
Re: Dubai economy?
I keep hearing that Saudi is the place to be, but I don't see the evidence of that. Loads of western expats have left and are getting fewer and fewer - seemingly. Most of the companies I've worked for previously are seriously ramping up their Saudisation programmes, The usual tell tale sings are all too apparent - availability on compounds, people at shopping malls, eating out at restaurants etc . Maybe they're all hiding from me.
One thing about the Saudisation though, I'm never quite sure how many of them are genuine workers. Got loads of chairwarmers in my company. I think women entering the workforce is going to make the biggest change to numbers. More and more of them all the time. Even in the backwards place I am located.
Oct 14th 2019, 6:21 pm
#19
Joined: Feb 2010
Location: Buraydah , Saudi Arabia
Posts: 2,863
Re: Dubai economy?
I remember back in early 2009, just after the crash, some sob story in the papers about a British expat couple who'd lived in the UAE for 30 years not having the money to pay for the container home and the cheque bounced and the husband was sent to prison till the money could be raised. There were others who also bailed out to avoid debt. So just because you get into a place at the beginning doesn't mean you'll be making your fortune, Mr Scamp.
Besides, what will you do for your local in Saudi? No boozers in the place, apparently.
I daresay some of you are a bit pessimistic about Dubai's long term prospects. It's not Saudi, and it is a virtue.
Besides, what will you do for your local in Saudi? No boozers in the place, apparently.
I daresay some of you are a bit pessimistic about Dubai's long term prospects. It's not Saudi, and it is a virtue.
Oct 14th 2019, 6:24 pm
#20
Joined: Feb 2010
Location: Buraydah , Saudi Arabia
Posts: 2,863
Re: Dubai economy?
I'm not pessimistic about Dubai, this place will continue to be a decent place to be and offer some great opportunities. But in reality the gravy train will end.
There might not be an obvious local in KSA but it's only a matter of time until there are actual watering holes. If wrong then just avoiding a descent into alcoholism or join in at embassy drinks or with home brew if needed. Failing that, a healthier life awaits!
There might not be an obvious local in KSA but it's only a matter of time until there are actual watering holes. If wrong then just avoiding a descent into alcoholism or join in at embassy drinks or with home brew if needed. Failing that, a healthier life awaits!
Oct 14th 2019, 6:25 pm
#21
Joined: Feb 2010
Location: Buraydah , Saudi Arabia
Posts: 2,863
Re: Dubai economy?
Wow! Lots of interesting perspectives.
I hope things improve in Dubai, it was such a good place to be 2004-2013, though we were very fortunate to stay employed through the messy years.
Singapore was great 2013-2918 but the market is showing signs of stalling.
Maybe Riyadh is the next port! I've been there many times and actually like it. It's a professional environment, and in some respects underrated. I'm not a huge drinker so that makes no difference to me. I'll investigate, and see if anything is happening in the marketing/communication area I work in.
I hope things improve in Dubai, it was such a good place to be 2004-2013, though we were very fortunate to stay employed through the messy years.
Singapore was great 2013-2918 but the market is showing signs of stalling.
Maybe Riyadh is the next port! I've been there many times and actually like it. It's a professional environment, and in some respects underrated. I'm not a huge drinker so that makes no difference to me. I'll investigate, and see if anything is happening in the marketing/communication area I work in.
Oct 14th 2019, 6:29 pm
#22
Joined: Feb 2010
Location: Buraydah , Saudi Arabia
Posts: 2,863
Re: Dubai economy?
I'm in Jeddah as I write this and cannot ever remember seeing it so quiet in the 20 years I've been coming here. I was in Dharan last week and the sentiment is definitely negative towards the economy, even among the Saudis.
I very much doubt Saudi will ever become Dubai, but for the construction folk, this could be the place to be for a few years.
I very much doubt Saudi will ever become Dubai, but for the construction folk, this could be the place to be for a few years.
Oct 15th 2019, 4:44 am
#23
Account Closed
Joined: Feb 2011
Posts: 0
Re: Dubai economy?
I'm glad you acknowledge there's more to life than boozing 
I just find Saudi a difficult nut to crack. The UAE is much more predictable. Higher quality of life. Think of it as a little Switzerland in the region. There's too many factors at play in Saudi for it to turn into a serious competitor to the UAE.
I just find Saudi a difficult nut to crack. The UAE is much more predictable. Higher quality of life. Think of it as a little Switzerland in the region. There's too many factors at play in Saudi for it to turn into a serious competitor to the UAE.
I've actually been having a sniff at what there may be in Abu Dhabi. It seems much more relaxed and chilled out, plus we have some close friends down there and always enjoy it when we're there.
Some will, some won't. MBS seems pretty driven and they're cracking on employing consultants to get things going for a number of them. We can barely keep up with the RFPs - especially for help with procurement, which is a positive sign.
Oct 16th 2019, 5:10 pm
#24
...we killed the flame
Joined: Jan 2017
Location: Dubai
Posts: 1,086
Re: Dubai economy?
For all his energy, MBS is an erratic mess like Walid bin Talal on speed. The worst of all khaleeji qualities only slightly masked by occasional "progressive" thinking. The size of the economy and the burning need for development are both such that Saudi will continue to offer a lot more opportunities than elsewhere in the Gulf where the hangovers from the artificial expo and WC boomlets will be severe. However, it will never be another Dubai, which will still have a role, as Millhouse nailed it characteristically: kind of like a slightly less down-at-heel Bahrain. Though I definitely wouldn't want to hang around until the Brexit refugees arrive!! (I accept the shoehorn of the week award gratefully).
Oct 17th 2019, 5:23 am
#26
Account Closed
Joined: Feb 2011
Posts: 0
Re: Dubai economy?
Payment is, always has been and always will be the issue in Saudi. Lots of stuff gets started but then slows down or stops when the inevitable payment issues arise. And the government is the worst payer of all. This will always be the limit on the degree of boom. Lots of big multinationals have a lot of debt in Saudi that may never be recovered. If you are an SME or freelancer then you should consider nothing else as a priority.
For all his energy, MBS is an erratic mess like Walid bin Talal on speed. The worst of all khaleeji qualities only slightly masked by occasional "progressive" thinking. The size of the economy and the burning need for development are both such that Saudi will continue to offer a lot more opportunities than elsewhere in the Gulf where the hangovers from the artificial expo and WC boomlets will be severe. However, it will never be another Dubai, which will still have a role, as Millhouse nailed it characteristically: kind of like a slightly less down-at-heel Bahrain. Though I definitely wouldn't want to hang around until the Brexit refugees arrive!! (I accept the shoehorn of the week award gratefully).
For all his energy, MBS is an erratic mess like Walid bin Talal on speed. The worst of all khaleeji qualities only slightly masked by occasional "progressive" thinking. The size of the economy and the burning need for development are both such that Saudi will continue to offer a lot more opportunities than elsewhere in the Gulf where the hangovers from the artificial expo and WC boomlets will be severe. However, it will never be another Dubai, which will still have a role, as Millhouse nailed it characteristically: kind of like a slightly less down-at-heel Bahrain. Though I definitely wouldn't want to hang around until the Brexit refugees arrive!! (I accept the shoehorn of the week award gratefully).
It's certainly a different market but the ambition is spectacular. Probably won't ever be another Dubai, no....but let them have at it for a while so we can all make some money and have a good time before having to return to the mire.
Oct 17th 2019, 6:22 am
#27
BE Forum Addict
Joined: Jan 2008
Location: Riyadh.
Posts: 1,899
Re: Dubai economy?
Agree with all of that.
One thing about the Saudisation though, I'm never quite sure how many of them are genuine workers. Got loads of chairwarmers in my company. I think women entering the workforce is going to make the biggest change to numbers. More and more of them all the time. Even in the backwards place I am located.
One thing about the Saudisation though, I'm never quite sure how many of them are genuine workers. Got loads of chairwarmers in my company. I think women entering the workforce is going to make the biggest change to numbers. More and more of them all the time. Even in the backwards place I am located.
Last edited by nottmbantam; Oct 17th 2019 at 6:24 am.
Oct 17th 2019, 8:27 am
#28
Knee deep and rising
Joined: Sep 2011
Posts: 3,007
Re: Dubai economy?
This isn't the Saudi boom though, you've missed that - that was early 2000s when the money was genuinely in the economy. I don't see this as the same, the government has put seed capital into all these developments not full funding, which is dependent on rounds of investors piling in as the works progress. I'm seeing concrete skeletons in the future only.
Oct 17th 2019, 8:52 am
#29
Account Closed
Joined: Feb 2011
Posts: 0
Re: Dubai economy?
This isn't the Saudi boom though, you've missed that - that was early 2000s when the money was genuinely in the economy. I don't see this as the same, the government has put seed capital into all these developments not full funding, which is dependent on rounds of investors piling in as the works progress. I'm seeing concrete skeletons in the future only.
