The globalized city-state appears to be in the midst of a boom season, spurred on by one of the world’s highest vaccination rates and government steps to lure businesses and de-escalate tensions with regional rivals.
. It's a surge in growth spurred on by one of the world’s highest vaccination rates and government moves to de-escalate tensions with regional rivals and lure foreign businesses.
Maskless debauchery has returned to dance floors. Brunch-goers are drinking with abandon. Home-buyers are flooding the market. Tourists are snapping up hotel suites. Expat millionaires are moving to the emirate. Coronavirus infections, although now making a comeback, remain below past peaks.It's déjà vu for those recalling the rush of December last year in Dubai, when the city courted tourists and influencers fleeing coronavirus lockdowns and wintry weather elsewhere.
Months of trepidation have given way to unburdened excitement. Encouraged by widespread inoculation and record-low mortgage rates, more properties were sold in Dubai in November than in any other month in the last eight years, according to website Property Finder. “You can go to restaurants. There’s no debate about remote working. This is not the case in Europe where it's still locking down,” said Christophe De Rassenfosse, the chief product officer of Property Finder, about why he moved his family from Brussels to Dubai in October. “You don’t necessarily have a huge percentage of elderly people which occupies the hospitals.”
Overall sales of alcohol by volume in the UAE rose to 117.5 million liters this year, up some 7.8% sold the year before, according to market research firm Euromonitor.Politics had poisoned trade between the powerhouses in past years. But in a recent flurry of diplomacy across the Middle East, UAE’s de factor leader met Turkey's president in Ankara, and a top Emirati national security advisor visited Tehran.
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