The Middle East's first super-luxury train will gleam gold
cnn.com
cnn.com
Does anyone have any insight as to why such projects of luxury and entertainment (e.g. sports) have such an appeal in the region for reducing dependence on oil as opposed to other other pursuits? Or is it just these projects that get headlines and there isn't out of the ordinary spending on such projects?
I feel like lots of the public has many negative perceptions of the region which makes these seem more unreasonable. There was a time when I was working for an ad tech company which got probably most of its revenue from a certain Gulf state, but the employees were always disparaging the country in conversations.
Of course it is important to distinguish between a hard definition of "luxury" as the domain of the very very wealthy, and luxuries accessible to successful dentists and those who aspire to live like successful dentists. What I mean is successful dentists might buy Ferraris, but they are not buying diamond encrusted Ferraris (so to speak).
Businesses and money can move outside the country, infrastructure can’t. Subsidize someone manufacturing heavy equipment or other businesses and the business is ultimately at a disadvantage as long as it stays where it is. It would be better off relocating so you’re stuck with an endless handout which stops working when the oil money runs out.
However large scale projects like roads have huge ongoing costs without directly generating revenue. A hotel should be self sustaining and revenue producing after construction.
And beyond corruption, foreign investment, cheap foreign labor, prestige, etc all play a role.
The brief always seems to be "make it clear it cost over a million dollars to decorate this room" and not "make a pleasant space to be in"
Visit Oman instead.