10/12/09 Stockholm, Sweden – With a part of the Agora Financial team touring Dubai it makes sense to cover some of the difficult realities one particular manufactured paradise, “The World,” is encountering.
The World is a group of 300 man-made islands in Dubai developed to mimic a map of the globe. An ambitious project to say the least.
But times are tough. Brangelina have ditched plans of purchasing Ethiopia, an Irish investor committed suicide instead of following through on a dream of building an Ireland theme resort, and it appears that many other grandiose projects have been put off for the foreseeable future. As Time describes, “many architectural fantasies in Dubai … now appear to be shimmering mirages,” in a “futuristic, five-star ghost town.”
Nowadays, it seems the Dubai merchandise moving the quickest is suitcases… roughly 5,000 units are sold daily to workers heading home jobless.
Thanks to The Coming Economic Depression for getting The World’s collapse on our radar.
Rocky Vega
Rocky Vega is publisher of Agora Financial International, where he advances the growth of Agora Financial publishing enterprises outside of the US. Previously, he was publisher of The Daily Reckoning, and founding publisher of both UrbanTurf and RFID Update -- which he ran from Brazil, Chile, and Puerto Rico -- as well as associate publisher of FierceFinance. Rocky has an honors MS from the Stockholm School of Economics and an honors BA from Harvard University, where he served on the board of directors for Let’s Go Publications, Harvard Student Agencies, and The Harvard Advocate.
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