Dubai and the other emirates have made globalization work in the Gulf by leveraging oil revenue to create a more open, diversified economy.
Good governance, political foresight, and fortuitous geostrategic developments have produced extraordinary growth in Dubai and the other states of the United Arab Emirates (UAE) since the Covid-19 pandemic. But does this federation has what it takes to sustain its newfound role as a global trade, finance and tourism hub amid increasing regional competition, the looming energy transition and the push-and-pull of global politics?
Close observers are optimistic that, with the right doses of wisdom and luck, Dubai and the rest of the UAE can continue riding the crest of the current wave.
“Dubai has done an extremely good job at marketing itself,” says Oliver Cornock, editor-in-chief at consultancy Oxford Business Group (OBG). “It has complemented that with a very clear open-for-business set of policies,” including free zones…
