DUBAI – As governments across the Middle East try to wean themselves off natural resources and build diversified, resilient economies, they should take some lessons from Dubai. It’s a remarkable story.
In less than a generation, Dubai has transformed itself into a major center for investment, commerce, and high-end culture. Although the 2008 global financial crisis hit the city-state hard (owing to its exposure to inflated real-estate assets), it recovered quickly, as evidenced by its bids for events such as the World Expo 2020.
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