At a cost of $52,150/Dubai resident, emirate gambles on huge airport
June 24th, 2008 Posted in Regional NewsDubai, one of the seven emirates in the UAE, has a population of 1.6M. However, its government is willing to
bet big - $82B big - that its geographic location and timing are right to build the world’s largest airport. Doug McVitie of consultancy Arran Aerospace: “The Middle East is taking over the aerospace industry and Dubai is at the heart of it.” According to consultancy McKinsey, the Gulf economies need to create more than 4 million jobs over the next decade for its citizens. More than 350,000 new jobs could come from the aviation sector by 2015. Read this informative article by MarketWatch.com.
More on this topic
(What's this?)
Dubai is officially pulling out of the recession
(Zero Hedge, 4/9/09)
Finding Value in the Aerospace and Defense Sector
(Barel Karsan, 7/25/08)
Abu Dhabi Plans ETF Launch
(Index Universe, 6/15/09)
