10 Reasons Why Dubai is Not a Money Making State
The days were when job seekers around the world dreamed about jobs in Dubai. Undoubtedly, there was a time when Dubai was considered as the center for economic development and finance of the United Arab Emirates. It provided many job opportunities because no other state did it with a convenient and favorable working environment. Investors from around the world wanted to invest in Dubai in this short-term due to rapid development and high quality of life. It was known as a gem for the industries, businesses and real estate markets of the world. That is why a state was developed and progressive that people used to think about making their fortune elsewhere but not in Dubai.
The basis of this strong and well-developed emirate, which was considered undisputed for a long time, was a major drop and devastating. It should not be taken as a complete disappointment, but yes, Dubai is no longer a money-making city. There are ten reasons to jointly listed for this reason.
VA Dubai offered to delay the repayment of the loan, which took part in a delay of $ 59 billion loan payment for 6 months on the Dubai world. Economists suggest a debt crisis of 2009, the result of real estate bubble bursts. This has become one of the many good reasons for Dubai’s economy being dragged into hot water. In the beginning of 2009, the situation worsened worse when the global economic crisis recorded a huge decline in property prices, construction and employment.
Reduce the effect of moratorium
On 25 November 2009 the official announcement of moratorium plays an important role by shaking the economy of Dubai. The impact of moratorium was so badly affected that with the significant decline in Asian stocks, the European markets began to fall arbitrarily, which has resulted in a decline in shares of major world markets. Dubai is still recovering and trying to get back its initial status.
In the years of recovery, Dubai faced many complications from the financial crisis of 2009. It gradually became stable to repay the loan, but again in 2013 its economy became unstable because all outstanding economies were based on debt, and it was stopped due to debt. It has made a big deal to bring Dubai into a no-money city.
Since Dubai has been an area of interest for people all over the world and an attractive emirate, it has become a crowd in a city that can not hold a stable economy. At the beginning of the fasting and rapid growth of the Dubai market, people wanted to invest here and wanted to fulfill all their efforts to make their place in Dubai. It became so populous that the opportunities for earning money were reduced.
Lack of foreign investment
After the financial crisis of 2009, there was a huge difference between foreign investment and the Dubai market. Since it was dropped in 2009, foreign investors stopped investing in Dubai because there was nothing like taking risks in this area. It is still in the recovery process and is expected to once again be able to attract foreign investors’ attention.
Lack of accommodation facilities
Real estate, construction and property prices fell after the crisis of 2009, resulting in the reduction of residential and housing facilities. Young people are afraid to come to Dubai because they have to be careful to get reliable and good housing.
Downfall of real estate marketing
Dubai’s economy was supposed to be based on its real estate marketing. This fact is known to every person from any corner of the world. As a result of the 2009 and 2013 crisis, Dubai’s real estate market has seen a drastic fall.
The current political satire is one of the good reasons that Dubai has lost its position as a money-making situation. The war against terrorism has typically affected the world economy and Dubai in particular.
Tired of oil industries
It is a general assumption that the United Arab Emirates’s economy is based on the oil industry and the more oil produces, the economy grows higher and higher. It becomes zero in the case of Dubai. Dubai’s oil reserves have come down considerably and it is expected that in the coming 20 years, these stores will be completely exhausted.
Extreme and mixed crowd
Different people from all over the world came to Dubai and settled down after speaking different languages and following different religions. This is the reason why a large number of people now avoid going to Dubai to make money.