Will it be like in Dubai here in Qatar?
I don't know if it is correct or not but somebody told me that Emirates has been sold to Abu Dhabi. And a lot of projects has been delayed, even suspended in Dubai. And almost 1200 of the contracts are being terminated and people are leaving Dubai for good. One company owner from Dubai said that the airport park is full of luxury cars there. And he added people are like escaping and leaving their cars (most probably which they bought with car loan). Do you have any precautions for such cases? I mean as we can see 2009 is going to be worse than 2008 (economists are saying we didn't hit the bottom yet). I am not a fortune teller and I am not the one to make everyone pessimist about future but just in case, do you have any idea what you will do if one day you will receive a mail saying your contract has been terminated.
"Chance favors the prepared mind."
In the end it is going to affect us. Because maybe rich people of Middle east are affected too and royal family of Dubai has lost 2 billion dollars but they have already 20 billion dollars for example.
For most of the expats it is not like that. If you loose your job suddenly you will loose more than that.
"What doesn't kill me; makes me stronger..."
Qatar has been affected too, but not as much as Dubai... if Qatar don't learn from what has happened with Dubai and continue to be on the roll it is in, then yeh, before we know it, we could all be in deep shite... or something like that.