Will I get deported for even asking that question? Has there been a law rushed through in the last few hours making it illegal to even suggest an alternative view to the one currently being screamed from the rooftops about how winning Expo 2020 is the most awesome thing ever?
Last night, the world learnt that Dubai had won the bid to host the World Expo in 2020. The expectation of this win was so feverish that Dubai property and rental prices had already gone up in anticipation of it months before the win was even announced. Will daily life in the host city be so great for us ordinary folk living and working in the sector of Dubai where questions like, "has your wealth manager suggested a greater exposure to gold in your portfolio for 2014" don't get asked at our parties?
I know that Dubai's economic fundamentals are in a much stronger position than they were in 2008. At least, that's what I hear from the various economists I talk to about these things. So, we should not be heading for the kind of spectacular crash of that year. Still though, doesn't all this high-pitched 'Oh my gahd, we'll all be rich!' hysteria have a certain pre-crash feel to it? One of the daily papers this morning ran one of those vox-pop stories that where they asked a load of people what they think about the Expo win. One girl said it means: 'Money, money, money and party, party, party!'
If that's not a call out to the world's biggest speculators and scam merchants, I don't know what is.
On the flipside, I've already talked to a lot of people today who are worried about rent rises. One of my colleagues said to me, 'I got quite depressed about it [the Expo win], I don't know how we'll cope if property prices go up.'
Yes, I know, World Expos are wonderful things. They've given the world the typewriter, the zip, the Eiffel Tower, the ice-cream cone... etc etc and yes, I'm sure lots of amazing inventions and creations will be presented to the world at Dubai's Expo in 2020 but all the excitement and hysteria currently sweeping back and forth through Dubai isn't because people are anticipating the creation of a great monument or accessory that revolutionises fashion. No, people are excited because they know a truckload - many many truckloads - of cash are going to be spent on building the infrastructure for Expo 2020 and they are hoping that some of this cash gets into their pockets by way of pay rises, more job opportunities, richer people chucking their wealth about.
People are excited about the excitement and I think daily life in Dubai will involve a lot more time stuck in traffic jams and figuring out how to avoid all the new construction noise and mess.
For the first time, moving to Abu Dhabi has appeal.
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