What oil means for the GCC

Last month Mckinsey Quarterly issued a great little paper that really puts things into perspective regarding what oil means for the GCC economies.




The GCC’s foreign-investment choices will influence interest rates, liquidity, and financial markets around the world. And the domestic investments will affect the region’s urban development, economic diversification, and ability to create jobs. Fortunately for the citizens of the GCC states and global policy makers, there will probably be enough petrodollars to satisfy both sets of needs. Indeed!

Investing the Gulf's oil profits windfall

Would a precharge prevent you from coming to Dubai?

136 Dollars for a visa - does a cash charge prevent undesirables?

While such concerns are understandable, the UAE had better make sure that it doesn’t lose its competitive edge with business travelers and tourists. Immigration can already be a slow process at Dubai’s airport. A new layer, including lines to make payments for visas, could really gum up the process. Ease of access has been a key ingredient in Dubai’s success, and Abu Dhabi, Dubai’s larger and wealthier neighbor, is also trying to transform itself into a world class destination through multibillion dollar investments including local outposts of the Louvre and Guggenheim museums. If visiting the UAE becomes too expensive and cumbersome, these attractions may wind up being unthronged.

Cracking Down on Visitors to Dubai?

Souks in Dubai

Which are the best souks in Dubai? Where can you get your "authentic" souvenirs? Where in the UAE can you fell as if you are in a scene from 1001 Nights, in modern day Arabia. We give you the definitive guide.

Souk it up! - Souks in Dubai.