Revealed: Dubai’s secret formula for turning adversity into opportunity

#Dubai has done it again.

With the grand reveal of the Atlantis The Royal hotel last night, Dubai has once again shown its resilience and foresight as a global leader in tourism and innovation.

The hotel was 14 years in the making, but the world was only too eager to write it down when the pandemic stuck in 2020. Globally, several high-profile international projects, including the launch of NASA’s James Webb Space Telescope, the construction of Elon Musk’s SpaceX Starship prototype, the reopening of the Smithsonian American Art Museum in Washington DC—even the launch of Avatar 2—were delayed due to supply chain disruptions and lockdowns.?

Despite the challenges posed by #COVID19, however, Dubai continues to push boundaries and deliver world-class experiences that are nothing short of extraordinary. The Atlantis reveal, featuring stunning performances by none other than Beyonce, was a true spectacle and a clear indication of the city’s commitment to providing visitors with the very best in entertainment. The hotel itself is a marvel of modern architecture and design, offering guests a truly luxurious and unforgettable experience.

This wasn’t, of course, the first time Dubai successfully turned a challenge into a success. Vice President and Prime Minister of the UAE and Ruler of Dubai HH Sheikh Mohammed Bin Rashid Al Maktoum maintains that “the word impossible is not in the leader’s dictionaries.” He has, in particular, always doubled down in challenging times and made it a habit to turn adversity into opportunity. “No matter how big the challenges, strong faith, determination and resolve will overcome them,” he once said.

Dubai’s track record of turning adversity into opportunity is admirable. The city has a history of leveraging crisis as a way to emerge stronger.

And that’s Dubai’s secret formula.

His Highness Sheikh Mohammed bin Rashid and his father, the late Sheikh Rashid bin Saeed Al Maktoum, the architect of modern Dubai, have successfully deployed this formula on several occasions to emerge winners when the region and the world were in turmoil.

1.???In the 1960s, Sheikh Rashid initiated the ambitious project to dredge Dubai Creek, ignoring naysayers who advised him not to undertake the massive investment. The dredging allowed Dubai to accommodate larger vessels and handle more trade and commerce, which was vital to the city’s development. This helped to attract more investment and businesses to the city.

2.???In 1979, the city inaugurated the Dubai World Trade Centre during a time of economic turmoil in the region caused by the Iranian revolution and the oil crisis. At the time, Dubai was still a relatively small city in the Middle East. The construction of one of the first modern skyscrapers in the Middle East was an ambitious and significant undertaking that paid off as it positioned Dubai as the region’s most important hub for trade and commerce.

3.???In 1992, in the aftermath of the first Gulf war, Emirates Airline ordered seven Boeing 777s with another seven as options, signalling Dubai’s ambitions to defy all odds when the chips were down. Many airlines were cutting back on their expansion plans at the time. Boeing 777s were one of the most expensive aircraft on the market, and Emirates’ order was a significant financial commitment. The 777s allowed Emirates to connect Dubai to destinations worldwide and helped transform the city into a major hub for international travel.

4.???Dubai launched the Dubai Internet City in 2000 at a time when the dot-com bubble had just burst. DIC was one of the first free zones in the world dedicated to the relatively new and unstable IT industry. It attracted high-tech companies and entrepreneurs to the city and positioned Dubai as a hub for technology and innovation in the Middle East.

5.???The development of the Dubai Marina in the early 2000s, during a period of global economic uncertainty following the 9/11 terrorist attacks, was another bold move. The Dubai Marina is a large man-made marina development built by reclaiming land along a two-mile stretch of the Arabian Gulf shoreline. The project established Dubai as a leading destination for real estate and tourism and transformed the city’s waterfront into a premier location for luxury living and entertainment.

6.???Also in the early 2000s, Dubai made a bold move by investing heavily in its tourism and real estate sectors, despite a global economic downturn. This calculated move paid off, as the emirate attracted millions of visitors and became a leading destination for real estate investment.

7.???In the aftermath of the 2008 financial crisis, Dubai’s real estate market, like others in the world, faced a significant downturn. However, the government’s decision to inject billions of dollars into the market helped to stabilise it and set the stage for a resurgence in property prices.

8.???In the face of the global oil crisis of the late 2000s and early 2010s, Dubai diversified its economy by investing heavily in renewable energy, specifically solar and clean energy. This helped to mitigate the impact of the crisis on the emirate’s economy and positioned it as a leader in the region in the field of clean energy.

9.???Dubai International Airport’s Terminal 3, the exclusive hub of Emirates Airline, was opened in 2008 during a time of political instability in the Middle East due to the Iraq war and regional tensions.

10. Construction of the Burj Khalifa, the world’s tallest tower, went on unhindered during the global financial crisis of 2008-2009, with its unveiling in 2010.

11. In recent years, Dubai has defied the odds by successfully hosting major international events despite the challenges posed by the COVID-19 pandemic. This includes the Expo 2020, the first World Expo to be held in the Middle East, Africa and South Asia region, and the return of international cricket, demonstrating the city’s ability to host large-scale events during uncertain times successfully.

Dubai’s resilience and determination, coupled with its ability to continue developing and opening new projects like the Atlantis The Royal hotel, is truly inspiring and sets a shining example for the rest of the world to follow. The city, under the guidance of its leaders, will continue to lead the way in post-pandemic recovery.