Will the tortoise overtake the hare?

What does the future hold for the Hotel Industry in Dubai and the MENA region?

Lawyers Richard Bursby, Hamid Yunis

The impact of the global recession in Dubai has been well publicised, however, looking ahead there appears to be light at the end of the tunnel. The Government of Dubai has worked hard to stabilise the economy, in particular with the set up of the Dubai Financial Support Fund. According to the Dubai Chamber, the UAE growth outlook is good as long as the fundamentals that support growth remain robust. In the rest of the MENA region, the downturn has not been as severe as in Dubai and the popular view is that many of the MENA economies will bounce back faster.

This article was written by Hamid Yunis and Richard Bursby and featured in the April 2010 edition of Retail and Leisure International and is reprinted with the kind permission of the editor.