Atiny spot on the globe, Dubai has set itself an ambitious goal: to bridge the continents and become the economic centre of gravity between Singapore and Frankfurt, between Hong Kong and London. And, according to many who have been watching, this small Emirate in the Persian Gulf is about to succeed in its challenge. This success story is the result of a clear development strategy: free itself from the manna of black gold to become a commercial, tourism and economic platform in 2010.Even the fact that the beach is constantly under construction doesn’t manage to repel visitors. “These controlled disturbances have no effect on prices. The current room shortage keeps rates high,” observes Pascal Maigniez. Considering all these aspects, investing in Dubai is still appealing and the fear of over-capacity is quelled by the constant efforts made to promote the destination. “In the Maldives there are 90 beach hotels while there are 42 in Mauritius. Authorities want to quadruple the number of aeroplane passengers. However, for each seat there must be a bed,” remarks Olivier Louis. The cost of development is high and the price of land is constantly on the rise – night and day in comparison with Kuwait. The number of projects on hold leaves the fear of the building speculations bubble hanging, but most projects seem to be on the right road for becoming realities. “I don’t think the bubble will burst. Efforts are being made to keep this destination affordable, but those who do not succeed in differentiating themselves will find themselves with over-capacity,” warns Jean-Gabriel Pérès. Even in a dynamic of success, the rules of good marketing must not be neglected.This mid-range forecast is backed by a long tradition of exchanges. Already at the end of the 18th century, the Al Maktoum family, which presides...