Thursday, January 8, 2009
Dubai is changing. A cursory look at blogs and reports indicate that the global slowdown is indeed having an impact. Earlier, the common subject for discussion on the streets used to be rising rents and traffic jams, but now project delays and layoffs have become hot topics. Quite a few people have lost jobs, especially in the real estate and banking sectors. Some motorists are expressing happiness that the traffic flow is smooth on the roads. A friend told me that hotel occupancy rate is not encouraging, but there is another version denying this. All this talk of job loss makes one sad. Many expats work round the clock to help their families back home. One should see their struggle for survival to understand the reality. The flashing of gold chains and electronic gadgets give an impression back home that expats have it easy all through. But that is hardly the truth. I am happy with one development, though. Taxi drivers used to be rude and rough just a couple of months ago. Now, their business hit hard, they salute the customers and talk with respect. Natural justice! With rents going through the roof, my next prayer is for a tight lesson for greedy builders.