So after about 48 hours in Dubai, my friend Sanjiv asks me what do you think?
I have to say my impressions are a combination of cynicism and sheer confusion. So here are few reflections.
1.The city is just so unabashedly draped in opulence, a characteristic that can be entertaining for a time, but at the end of the day leaves me with deep sadness for those who are searching so hard to find themselves in their belongings.
2.The city lacks wisdom. It is a city that is made up of young people, which at times can give it a vibrancy that can be rivaled by few cities in the world. But that youth, to me, seems to be missing its balance, and I hope that with time comes age.
3.The city is incredibly transient. I think this is obvious to anyone who travels there. But what is interesting to me is that people living in a transient world forget who they are or perhaps disguise who they are. This creates a city of people trying to be someone else… I am not sure how that will play out in the long run…
But all of that being said, there is just something about that city that makes you giddy makes you feel like the world is a magic place, that may turn a frog into a prince or perhaps just vanish into thin air…
After 3.5 years in Dubai, I think the three points raised are completely accurate, and provide a good first impression of a city that doesn't really allow you to get too much below its surface. Its surface, after all is really its main marketing tool, and if you're coming from anywhere else in the world, chances are you would have heard about or seen pictures of the Burj Al Arab, Burj Dubai (now Burj Khalifa), Palm Island, etc, and this is how the city wants to be known.
ReplyDeleteIf you have the ability to spend some time, and talk to the people here, you get a wide range of answers as to what the city gives them. Emiratis (who make up a minority of the city's inhabitants) will tell you a combination of two things: 1) they are proud of Dubai's grand ambition, success to date, and opportunity it has provided or 2) They are concerned for some of the compromises the city has had to make to its traditional values. Expats, whether the western investment banker or eastern taxi driver are generally here for the opportunity. The opportunity to save money in a no/low tax environment and send remittances home to their families. The opportunity to take a job 3-4 levels more senior than would be offered back "home" in order to accelerate their careers. The opportunity to live a lifestyle that is beyond their reach anywhere else. All of these reasons are rational, but when a large percentage of the city is living in such an aspirational bubble, a certain segment of people self select Dubai, and certain behaviors do become more prevalent.
Dubai is very diverse, and its virtually impossible to recreate this type of environment where there is no true majority without the Dubai design (short term, big bet, from scratch opportunity). It's full of young ambitious, risk taking people. The downside... the city does lack empathy. It doesn't apologize for its opulence. It does have an ego, which makes things like Abu Dhabi's repeated bailouts all the more humbling.
Through all of the hype, the big 20 year bets, and the largest "xxxx" in the world type of mentality, there are opportunities created. A large number of people, regardless of whether Dubai rises or falls, will have a stronger capabilities, fiscal flexibility, and perspective from having been a part of the experiment for 2, 5, 10 years (few will be here beyond that).