what will happen to UAE's economy when the oil runs out?

Nanazolie

I need to settle an argument... I think that the UAE, while investing for alternative economic ressources, cannot cope with the loss of their major source of revenues. On the other end, some people think that these countries have invested in properties worldwide, football teams, etc, which should be enough to sustain the current expenditure.

I found the same conflicting articles online.

What do you think?

fedor.2.

They're all fcuked when the oils gone, I'm just sorry I won't be alive to see it

Larianne

I believe they are trying to turn it into another Singapore, making it a financial hub of some sort.

They've about 120 years to figure it out.

MagicIRL

You think the Middle East is bad now? When that Oil runs out the place will go to **** completely. Good luck to anyone trying to live there.

D

I think that they have a long term sovereign investment fund.
No idea how big it is.

Pawwed Rig

The investments abroad will sustain some of the people, namely those who own them. The general economic situation is very reliant on oil though. Unless they come up with something to replace it they will be left with large cities occupied to a fraction of their capacity with the rest falling to ruin. It was daft to build such cities in that part of the world.

jimgoose

As the fella said: My father rode a camel. I drive a Mercedes. My son drives a Bentley. But his son will ride a camel. :pac:

BeerWolf

With the majority of their income is strictly off Oil, they WILL struggle... no matter how much investments else where... they've made too much reliant on oil.

Example, Saudi Arabia: LINK

Exports 76% oil...

The West and the rest of the world won't give two ****s about them once that runs out.

Comparison; People with money having 'friends'... once that money's gone those 'friends' disappear. The UAE... specially Saudi Arabia, are arrogant nations so I honestly couldn't care what happens to it... and would be more than happy to see that country turn to waste.

Sir Arthur Daley

They will start building housing estates, should get 10 good years out of it.

jimgoose

kickinthegee wrote: »

everyone in the UAE will get a kick in the gee

You are Facekicker's misogynistic twin-brother, and I claim two packets of Rancheros. :pac:

suicide_circus

Well for one thing, they'll be working fewer poor foreign labourers to death

jimgoose

BeerWolf wrote: »

...Comparison; People with money having 'friends'... once that money's gone those 'friends' disappear. Unfortunately, UAE... specially Saudi Arabia, are arrogant nations so I honestly couldn't care what happens to it.

Reminds me of something my late father used to say: When boys have money, they're men. When the money's gone, they're boys again!

Grayson

The UAE and Qatar are investing heavily in their economy. They are training up and turning the place into a service economy (like Singapore as someone already said). Those countries will be fine. Saudi won't. It has massive unemployment now with an under educated population. It will revert back to an agrarian society unless something is done.

Sunnyisland

Extreme Muslim fanatics will take over, aaannnd because they have no oil, no one will give a ****.

Augmerson

Nanazolie wrote: »

I need to settle an argument... I think that the UAE, while investing for alternative economic ressources, cannot cope with the loss of their major source of revenues. On the other end, some people think that these countries have invested in properties worldwide, football teams, etc, which should be enough to sustain the current expenditure.

I found the same conflicting articles online.

What do you think?

I think those investments were made because otherwise the capital that would have been used is sitting in a bank and that money could always be seized or the assets frozen should some big war blow up.

Buona Fortuna

Pawwed Rig wrote: »

The investments abroad will sustain some of the people, namely those who own them. The general economic situation is very reliant on oil though. Unless they come up with something to replace it they will be left with large cities occupied to a fraction of their capacity with the rest falling to ruin. It was daft to build such cities in that part of the world.

Bit like here then?

Pawwed Rig

Buona Fortuna wrote: »

Bit like here then?

Yes exactly only the crash will be much worse.

Jonty

realies wrote: »

Extreme Muslim fanatics will take over, aaannnd because they have no oil, no one will give a ****.

They already have taken over!

comongethappy

Financial services & tourism.

& sand exporting of course.

ScumLord

MagicIRL wrote: »

You think the Middle East is bad now? When that Oil runs out the place will go to **** completely. Good luck to anyone trying to live there.

I don't know, if they've nothing to fight over it might get a little bit more peaceful. Although if the royal families can't afford to keep the extended family in the lifestyle they've come accustomed to there might be cival war all over the region.

These places have built up populations the area simply can't support. It needs the rest of the world buying it's oil. I don't think anything can replace the amount of oil money coming in, I'm sure the top guys have horded enough money to see them into old age but that money will dwindle over the generations.

They have to import massive amounts of water and the price of that is going to go up and up in the future and it doesn't matter how nice a place looks if you can't get water at a reasonable price people simply won't be able to live there.

I think those cities might well be something people dig out of the sand in a thousand years time and wonder how such an advanced civilization survived in the desert.

Adamantium

I hope they enjoy eating glass, because there'll be plenty of it.

Alternatively hold their hands together in peace and brotherly unison....ah **** who am I kidding.

By the time the oil in UAE runs out, it'll be long forgotten because the problems we'll have elsewhere..oh boy

Buona Fortuna

ScumLord wrote: »

...

They have to import massive amounts of water and the price of that is going to go up and up in the future and it doesn't matter how nice a place looks if you can't get water at a reasonable price people simply won't be able to live there.

I think those cities might well be something people dig out of the sand in a thousand years time and wonder how such an advanced civilization survived in the desert.

So with all our rain, we might get the last laugh afterall?

darkpagandeath

Back to the Middle ages. Some have gold still but well oil is their major asset.

bboybaboy19

No they won't survive and I'd love to see the downfall.

ScumLord

Buona Fortuna wrote: »

So with all our rain, we might get the last laugh afterall?

We should find a way to harness the energy and resources of rain. There's a lot of energy being dumped on this country on a daily basis and the byproduct is drinking water.