“The word impossible is not in the dictionaries of leaders. No matter how great the challenges are, faith, determination and resolve will overcome them,” says Sheikh Mohammed bin Rashid Al Maktoum, the Emir of Dubai since 2006. If we look back, 50 years ago this country of the Emirates United Arabs was just a vast desert.
Today, it has not only become the mecca of luxury, but also a vibrant city that last year was the third most visited in the world, only surpassed by Istanbul and London, according to Euromonitor International. So much so that prestigious international newspapers as diverse as The Wall Street Journal, Vanity Fair and The Times have titled their reports on this pearl of the Middle East more than once, highlighting that “Dubai is not just a city, it is a lifestyle.” ”.
We are talking about both a city and an economic hub that attracts to such an extent that today only 9% of its population is of Emirati origin. The remaining 91% are people from other countries who fell in love with this city and decided to make it their home.
The reason? “It is the 21st century version of the American dream. Dubai’s strategic location serves as a bridge between East and West, making it a major hub for international trade and investment. Dubai-based investors have access to $8 trillion of private wealth in the Middle East, Africa and South Asia and exponential growth opportunities through the Dubai International Financial Center (DIFC) ecosystem of more than 350 wealth and asset management companies that together represent total assets under management (AUM) of approximately $450 billion, an exceptional talent pool of more than 41,500 people, combined with unparalleled market access,” he explains. Jack Banfield, from consultancy S
Dubai has always been an attractive country on a financial level. State incentives, easy-to-obtain visas for startups and large fortunes, and an attractive tax-free environment, including inheritance taxes. In 2023, DIFC launched the Global Family Business and Private Wealth Center with an estimated one trillion assets that will be transferred to next generations in the Middle East over the next decade. And let’s not forget: Dubai is the conglomerate with the largest capital invested in artificial intelligence in the Middle East, Africa and Asia.
Now, the appreciation of Dubai as an ideal paradise to live in took off with the excellent management they carried out during the covid pandemic. In the words of the Director General of the UAE National Emergency Crisis and Disaster Management Authority, Obaid Rashid Al Shamsi: “Having a clear strategy and handling this global threat with professionalism allowed us to contain its repercussions. “Everything was based on communication and coordination between government and non-government agencies, uniting a national effort to manage the pandemic, which led to security, peace and stability.”
“We saw on television what was happening in other countries, from the number of daily deaths to the very harsh confinements to which the population was subjected. Here we were never forced to lock ourselves at home, we could go out, play sports, continue with our businesses… Many businessmen decided to come to Dubai and work remotely thanks to virtual work visas. In this way, they confirmed the quality of life, security and the possibility of economic growth that characterizes this country that, months later, they decided to make their home,” says Stephanie Reichenback, originally from Geneva and owner of Sonara Camp, a lounge bar. and an elegant restaurant in the Dubai desert that opened six years ago and has grown with an annex of luxurious dune-shaped tents to spend an unforgettable night under the stars.
“I came to Dubai wanting to start my own company. At that time there were no chic places in the desert for exclusive events or dinners. My first challenge was organizing an evening for Bulgari. There were 80 guests and I put, as I always do, my soul into it. It worked and I easily got a concession for that space from the government. I love being here, seeing the tolerance and respect between citizens of countries as diverse as Israel, Russia or the United States. “I always say that I live in the Switzerland of the Middle East, with a lot of political neutrality and great services in health, education and climate change prevention, as stated in the Dubai Urban Plan for 2040,” he adds.
Luxury is one of the driving forces of Dubai, not only understood as the possibility of living near idyllic beaches meandered by palm trees, Michelin-starred restaurants, jewelry stores of the stature of Van Cleef
“The key is that here you do not have to be ashamed or suffer to show what you have acquired thanks to your work or that of your ancestors. In the West, luxury is often considered as ostentation, narcissism or even petulance. For us, on the contrary, it is enjoying everything that is not the result of chance, but of savoir-faire in different sectors,” explains Aiham Nader, a Syrian based in Dubai and owner of Beno, a luxury yacht company like the jewel Santorini. , 115 feet long, a crew that includes a renowned chef and five cabins built with all kinds of flourishes in Greece. The price? 4,500 euros per hour.
100% glamour, increased by taking into account that the country has 15 exquisite marinas connected, in large part, to the luxury hotels and residences that emerged from the merger between leading chains in the sector and firms in the fashion and sports sector. accessories such as Armani, Versace, Bulgari or Missoni. Dream stays and properties that are rented for days, months or that have even been purchased before being built, some of them already in the hands of celebrities living in this country, such as the Beckhams, the Armanis, the Hollywood star Lindsay Lohan, the singer British Cat Stevens or the soccer figure Michel Salgado.
Who thought Dubai was just about finances? Skyscrapers that have nothing to envy of New York with their impressive futuristic architecture, such as the Burj Khalifa tower; a souk that houses the jewelry store that proudly displays the largest gold ring in the world according to the Guinness Book of Records; more than 69 restaurants included in the Michelin guide, such as the two-star restaurant by Italian Niko Romito; golf courses to emulate Tiger Woods, Rory McIlroy and Ernie Els; and incredible rooftops where you can soak up the bling bling sparkle until dawn. Yes, Dubai is always on the move, but without losing a bit of magic.