Dubai: Not recession-proof after all, unemployment shows
Industry reports and few personal accounts reveal massive job cuts in Dubai’s hospitality and tourism industry. Lay-offs in real estate have outnumbered all other job areas in the “City of Gold.” The United Arab Emirates (UAE) can no longer demonstrate staying recession-proof in a global meltdown. With the unexpected turn of events in the cash-rich Arab Gulf state, one hotel even offered to feed those who have been fired. Two weeks ago, the Arabian Park Hotel’s general manager offered UAE residents recently made redundant to eat for free from December 15, 2008 until January 15, 2009. Published reports claim that only one woman has called in to take the hotel up on its offer. “We’ve not had as high an interest rate as I would have hoped and expected,” Mark Lee, general manager of the three-star hotel, was quoted as saying. Those who got sacked needed to present redundancy notices before a free meal.