The UAE, Kuwait, Qatar and Bahrain, are expected to spend about $150 billion on infrastructure over the next three years, according to Merrill Lynch.
Merrill Lynch said in its In its recent Global Research Highlights that infrastructure spending in emerging markets could exceed $1 trillion in the next three years. rest here
Merrill Lynch said in its In its recent Global Research Highlights that infrastructure spending in emerging markets could exceed $1 trillion in the next three years. rest here
I understand that infrastructure spending is a progressive step and the wise always decide to make bold strides in such areas. But the twist for the Gulf States would be in striking the balance between, bearing the costs of such development or transferring them onto the bulk expat population. Ofcourse countries bear a lot of such costs themselves and levy taxes on the residents, but with no loyalties being extended to the expats it would be hard to have them stick around to pay for infrastructure costs. Already we are seeing the burnt of such by things like "airport expansion taxes" , road tolls, etc etc.
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2 comments:
Who said anything about wanting the the UAE to be attractive to expats? if u want to say then u should pay if not u leave.
But, Anonymous, if the expats leave, who will live here? In the UAE at least, who is all this being built for? The local population isn't large enough, and won't be for many generations, to populate a city the size of Dubai.
I'm not suggesting there shouldn't eventually be taxation here, it's inevitable. But this stock answer of "if you don't like it, leave" just doesn't make sense. The UAE HAS to be attractive to expats if it's going to work as planned.
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