The Sudden Cost of Unexpected Threats: The Novel Coronavirus and Dubai

Abstract

The economy of Dubai is remarkable in that it has moved away from an oil-based to one in which 95% of its income is derived from non-oil sectors. This diversification has been possible thanks to the real estate, tourism, and transportation sectors, which in turn, have transformed the emirate into a truly global city. Being a global city, however, comes at a cost. It requires a stable region (and even a stable world) that is far away from any conventional (like wars) or unconventional threats, such as epidemics and natural disasters. Hence, during a regional or international outbreak, the blessing of being a highly global city can also be its curse.