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Old 22nd February 2008, 02:16   #76
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Oil is one of the main drivers of the modern economy. Dubai is where the oil wealth of the entire middle east congregates, It would be surprising if it would not have all the trappings of a extremely wealthy place. A large number of people with huge amounts of disposable income.

It cannot even be compared to leading Asian business cities like Singapore, Hong Kong, Shanghai or Taipei. These cities are filled with professionals, highly paid professionals but nowhere near the sort of scale and disposable incomes from oil a place like Dubai will have. This is the playground of the rich and super rich in the Middle East. Like some one suggested Monaco would be be a more appropriate comparison.

We have one rich guy here who is flamboyant, Vijay Mallya who will bother with exotic cars, Dubai probably has hundreds.
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Old 22nd February 2008, 10:42   #77
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Quote:
Originally Posted by salilpawar1 View Post
Come on, show me a county where a Maruti 800 is chauffer-driven.
My college professor comes in chauffer drive M800
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Old 22nd February 2008, 12:27   #78
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Originally Posted by amtak View Post
My college professor comes in chauffer drive M800
How far will the rich-poor divide stretch?

food for thought
Do you think some people will have a chauffeur driven Tata Nano?
Has anybody heard of someone hiring a professional rider to ferry them somewhere on a motorcycle or scooter?
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Old 22nd February 2008, 15:04   #79
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By the way this topic has as much value as me speculating why I have 50 exotics lined up in my garage while the rest of the country potters around in Swifts and Zens.

Very strange indeed, mysterious and sinister I say. TeamBHP will intervene in this gross injustice, and forcibly redistribute my 50 exotics to delirious members for my gratuitous question.

Last edited by raul : 22nd February 2008 at 15:10.
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Old 22nd February 2008, 15:43   #80
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Guys this is a forum for Cars & Bikes not for IPO or share market, please discontinue the topic and come back to cars & bikes and enjoy ur life instead of losing money in IPO and shares which is a Gamble in a open market.
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Old 22nd February 2008, 23:10   #81
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Quote:
Originally Posted by raul View Post
Oil is one of the main drivers of the modern economy. Dubai is where the oil wealth of the entire middle east congregates, It would be surprising if it would not have all the trappings of a extremely wealthy place. A large number of people with huge amounts of disposable income.

It cannot even be compared to leading Asian business cities like Singapore, Hong Kong, Shanghai or Taipei. These cities are filled with professionals, highly paid professionals but nowhere near the sort of scale and disposable incomes from oil a place like Dubai will have. This is the playground of the rich and super rich in the Middle East. Like some one suggested Monaco would be be a more appropriate comparison.

We have one rich guy here who is flamboyant, Vijay Mallya who will bother with exotic cars, Dubai probably has hundreds.
small correction a very common misconception, dubai has very little oil money it's abudhabi the neighbouring city. dubai relies more on trade, tourism, gold and industry(the former have more significance) and i few more but oil not being one of the main.

i would like to apoligise for posting it on this thread i should have put it on a new thread since it has nothing to do with intl scene v/s indian...
once again i apoligise
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Old 23rd February 2008, 01:53   #82
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You are quite right in saying Dubai has a diversified economy, more so than any other place in the ME.

However Dubai is a major financial gateway in the middle east and that's where the money is coming from, you see the oil wealth is invested in Dubai from all over the middle east, and for all these massive investments in infrastructure.

Its also a place where the rich and famous of the middle come to play and stay being more liberal than the rest of ME. So is would not be accurate to define Dubai's success as nothing to do with oil. Most of the super rich individuals with fabulous wealth and exotic lifestyles in places like Dubai are intricately connected with oil.
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Old 23rd February 2008, 04:56   #83
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Quote:
Originally Posted by ram View Post
How far will the rich-poor divide stretch?

food for thought
Do you think some people will have a chauffeur driven Tata Nano?
Has anybody heard of someone hiring a professional rider to ferry them somewhere on a motorcycle or scooter?
Just one more job creation idea. Without the M800 owning professor, there is no 3000 Rs fetching job for the driver

Btw, my friends father, who has a fleet of Auto's and finance business, hired a driver to ferry him on a Kinetic (he has arthritis and can't drive). Unfortunately one day the driver had a momentary lapse of concentration and crashed the kinetic and leaving my friends father with broken legs.
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Old 23rd February 2008, 05:17   #84
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Btw, DXB_roller, here is something from Wikipedia

Quote:
Dubai's gross domestic product as of 2006 was US$46 billion. Although Dubai's economy was built on the back of the oil industry,[60] revenues from oil and natural gas currently account for less than 6% of the emirate's revenues.[7] It is estimated that Dubai produces 240,000 barrels of oil a day and substantial quantities of gas from offshore fields. The emirate's share in UAE's gas revenues is about 2%. Dubai's oil reserves have diminished significantly and are expected to be exhausted in 20 years.[61] Trade (16%), entrepôt (15%) and financial services (11%) are the largest contributors to Dubai's economy. [62] Dubai's top re-exporting countries include Iran (US$ 790 million), India (US$ 204 million) and Saudi Arabia (US$ 194 million). The emirate's top importing countries are Japan (US$ 1.5 billion), China (US$ 1.4 billion) and the United States (US$ 1.4 billion).[6]
It was built on Oil wealth and then diversified as its Oil reserves are depleting. It still attracts investment from Petro Dollars.
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Old 23rd February 2008, 17:02   #85
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yeah mayavi is back, was wondering why he hadn't commented yet, once again things get interesting ;-)

p.s all information on wikipedia is not validated (so there is a possibility of innaccuracy however it is true that oil contributed to the building of the economy but moreover it was trade and when compared to the rest of the countries of the middle east, its probably one of the countries with the least oil.

could we get back to comments related to cars or comments with social,economic,political etc comments that can some how be realted to cars
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Old 23rd February 2008, 17:13   #86
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Quote:
Originally Posted by raul View Post
You are quite right in saying Dubai has a diversified economy, more so than any other place in the ME.

However Dubai is a major financial gateway in the middle east and that's where the money is coming from, you see the oil wealth is invested in Dubai from all over the middle east, and for all these massive investments in infrastructure.

Its also a place where the rich and famous of the middle come to play and stay being more liberal than the rest of ME. So is would not be accurate to define Dubai's success as nothing to do with oil. Most of the super rich individuals with fabulous wealth and exotic lifestyles in places like Dubai are intricately connected with oil.
hey raul

the part about most of the super rich being intricately connected with oil today in present times is only true with a lot of the very old local families, alot of the new blood probably do use a bit of that money but none the less in a diversified manner for example the guy who bought the number 1 plate is a reputed young emarati who is in to property and shares (basicly DIVERSIFIED investments) also it being one the few places in the middle east where you find a lot of expats, even more recently who have become rich cant meddle in oil except for import export most of the richer exapts and new home grown blood educated outside!! are in things such as finacial services, property, retail etc.
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