We knew things were getting rough for Dubai, but we didn’t expect people to be in such a hurry to leave.
Apparently people are skipping town so fast, they don’t even bother to take their cars: more than 3000 have been found abandoned in the airport parking lot in the past few months. Sharia law is pretty tough on debtors, so folks in dire financial straits tend to skip town rather than face jail time over a bounced check or two. But with boom times definitely at a close, the sheer volume of people sprinting towards the nearest outbound plane is becoming downright remarkable.
On the bright side, we bet the used car market is really taking off.
- — Russell Brandom