The Theory of Globalization in Dubai

In: Business and Management

Submitted By Shawn435
Words 4760
Pages 20
The Theory of Globalization in Dubai

William Jackson Jr

Keller School of Graduate Management

Abstract

This paper will explore Dubai, the world’s fastest growing city on the Arabian Gulf which features the most amazing projects, that appears to be the new tourism model for the world. Mega-resorts featuring golf courses, marinas, hotels, housing estates, super-malls and entertainment facilities are mushrooming along coastlines in all continents. The globalization in Dubai will be presented utilizing examples from South Africa, Vietnam, the Bahamas and Mexico. Many of those Mega-resort and housing complexes are built by Middle Eastern companies utilizing capital from the Middle East. The city of Dubai tourism-related projects are called “bubbles set to burst”. One analyst, called Dubai “the harshest of lessons in the perils of rampant property speculation”.
The property, tourism and golf industries have already suffered downturns as a result of the global credit crunch, and the majority of the ambitious resort projects may not survive the current economic crisis. Developers and speculators will lose money, but the major losers will be local communities and the environment. In addition to concerns about the economic risks, there are growing worries about the global food shortage crisis and how it impacts of climate change. But decision-makers are careless when it comes to giving the green light to constructing monstrous resorts and housing projects.
Instead of focusing on food security, the farming and fishing communities are reduced, removed or bio-diversity wiped out. Instead of taking protective measures in preparation of the looming climate crisis, coastal ecosystems like mangrove forests and sand dunes that serve as natural barriers against storms and floods are destroyed to pave the way for luxury housing, golf courses…...

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