WHY DUBAI EXPERIENCE RECESSION AT THIS POINT IN TIME.

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Dubai city

Dubai, UAE has been in one too many recessions over the period of time. And at every particular recession - it was told that THIS one was the worst one. And having lived in UAE for 36 years I have been through them all.

Personally, I believe the bigger you are - the harder you fall. And Dubai, UAE has been doing its best to become bigger and bigger and bigger every single year. This problem started with the Property Boom Period where it just went into the hyper-zone of building Cities, Properties, Land on Water projects, creating the Biggest, Tallest, Largest - whatever - and that too on Credit while believing in its own hype and speculation.

And this was the beginning of the end for Dubai, UAE’s big image.

If you ask me - the Damage that started in 2008 after the property market crash has still not healed itself. It has still not recovered. And every time Dubai, UAE is about to recover - it jumps on yet another project to position itself as a ‘World Leader’ in something. And that is why since the announcement of Expo 2020 - it has spelt nothing but disaster for Dubai, UAE. And that is why it has taken the decision to bring in VAT.

So if you ask me is Dubai, UAE’s recession over - the answer is absolutely no. From 2018, you will get to see the full force of the recession starting and the disasters that follow.

If I were you in Dubai, UAE - I would be very very very cautious and careful. And hold on to my money and live below my means.

Remember one thing - Dubai, UAE survives and thrives on pure Speculation & Hype. All I will tell you is don’t fall for it. What you read on the ‘approved media’ is not reality. You want the real news - get it from the layman who works - the Expat. And that is where you will come to know the real story.