Dec 1, 2009 11:50:26 PM
The Dubai 'crash': what does it mean for travellers?
Last week, the owners of Dubai World requested a six-month extension on paying off its debts. Hot on the heels of that announcement, the government of Dubai stated that it would not pay the Dubai World balances, as it wasn’t the state’s responsibility to bail out a private corporation.
These revelations sent global stock markets plunging, as predictions of economic catastrophe spread worldwide. However, the news for travellers is nowhere near a dire. While we may have to wait a bit longer to see the completion of such endeavours as the world map created by 300 islands in a lake, you can rest assured that the government of the UAE will want to keep tourism and business-travel numbers high.
So expect to see low airfares to and through Dubai, and a discount on hotel rates in the near future. Even if the economic mood around Dubai isn’t as buoyant as it once was, it’s still a fantastic travel hub and springboard for nearby destinations (such as Abu Dhabi).