The $64 Billion Dubailand Failure: What Really Happened?
Dubai had one job, and they failed at it!
In the early 2000s, Dubai had a serious problem. The city had become one of the richest in the world - an achievement many nations could only dream of. But with that wealth came a new challenge.
With oil production accounting for more than 50% of its GDP, Dubai realized its economy was extremely vulnerable.
Unlike many others, they quickly understood that a global financial crisis or a drop in oil prices could strip them of their newfound status.
So, they decided to diversify, with a big bet on tourism. Taking a page directly from the Mickey Mouse magic, they set out to create Dubailand, the largest theme park project ever conceived.
But what was meant to be a tourist wonderland, turned into one of Dubai’s biggest financial failures.
So, what went wrong? How did Mickey Mouse end up defeating what would have been the jewel of the Middle East? And, how did Dubai’s incredible comeback, above all odds, shock the world?
Credit (Background Music): Epic New World by Valentina Gribanova [02:47 - 04:23]
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