Costliest hobbies in Dubai, What’s yours?

Everyone has their own hobbies be it stamp collection, coin collection, bird watching and more. However, when it comes to Dubai, things move on to the richer side and there are many such expensive hobbies of people in the city and other parts of the UAE, some of which are listed below:

1.       Racing - Racing is a very important hobby in the UAE considering the Dubai international rally  that’s hosted at the Sharjah stadium. However, when it comes to hobbies, people have to spend quite a lot even for a single driving session with any of the driving schools.

2.       Art Collection - Though this hobby sounds quite natural, buying a unique piece of painting is sure to go hard on your pockets.

3.       Car collection - This is one hobby that only the super rich can afford. Collecting vintage cars, Ferraris and the likes is definitely something that a common man cannot afford.

4.       Sky Diving - For playing this adventurous sport, you don't only need courage but lots of hard cash too. You have to shell out a huge amount just for one session too.

5.       Horse Breeding - Arabs love horses and don’t mind investing a lot in breeding them. Dubai even hosts the world’s most expensive horse race. However, in terms of hobbies, it can be really expensive as you have to pay for the horse’s fodder and grooming too.

6.       Globe-trotting - Most of us dream of going on a world tour at least once in our lifetime. However, when it turns into a hobby, it can really make your pockets light.

7.       Antique collection - Though one may think that antiques can be easily purchased, it is not so. The more unique they are, the more expensive they become. For getting  your hands on them regularly, you have to break the bank. 

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Dubai Expo 2020 could lead to economic bubble

A recent poll revealed that Dubai’s win in its bid for hosting the World Expo 2020 could generate another economic bubble in the UAE. Nearly 55% of the respondents of a survey shared their concern for Dubai’s economy post the Expo 2020. Only a quarter of them believed that Dubai’s economy was stable enough after the 2008 and 2009 crisis.

A set of respondents also believed that Dubai can increase its immunity by allowing simple procedures for starting a business. Respondents also believed that an increase in regulation of real estate and banks could make the UAE immune to a financial crisis. These results were obtained after a survey of more than 200 investment professionals was organized by the CFA Institute.

This news was published by the CFA Society Emirates even before the Bureau International des Expositions (BIE) announced that Dubai had won the bid. In spite of such a concern coming up, it was seen that approximately 95% of the respondents had supported Dubai’s vision for Expo 2020, while 97% of them had held a belief that the UAE will win the bid for Expo 2020 which eventually turned out to be true as well.

Just 4% of the respondents had been of the opinion that the Expo 2020 could burden the economy of the UAE and lead to another economic bubble such as the one seen in 2008 and 2009. Now that Dubai has won its bid for the Expo 2020, only time will tell if such a mass event will create an economic bubble in the UAE or no. Let’s wait and watch.  

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