Could the UAE be next for Middle East political unrest?
As bankers flee Bahrain and Egypt in the wake of political upheaval, those in the plastic oasis of Dubai look blithely on, even anticipating benefits as more people and companies look to the emirate as a safe haven. But is it really that sheltered?
The idea that the UAE could see any political upheaval seems, if anything, more unlikely after the unrest elsewhere in the region.
Hotels in Dubai are rumoured to be seeing increased levels of business as financial professionals from Bahrain and tourists, who may have otherwise visited Egypt, divert to the emirate.
What's more, while the Bahrain Financial Harbour resembles ghost town - not least because banks like Standard Chartered and HSBC lifted staff out of the kingdom - the DIFC has a distinctly more bustling feel to it and headhunters are rubbing their hands as key bankers temporarily relocated to Dubai ponder a permanent move.
But is trouble in the UAE really beyond the realms of possibility? David Butter, regional director for Middle East and North Africa at the Economist Intelligence Unit, tells us that "it's not outlandish that there could be trouble in the UAE", but that the "idea would of course be laughed out of court".
"You've got the presence of Emirati angst: the feeling that you're not doing as well as others and did we really ask for our country to look like this?," he says.
The crucial difference, says Butter, is that Emiratis are a small minority. Although there's simmering resentment at the way their country has turned out, they lack the numbers and support to take to the streets. And expats, self-evidently, won't be protesting about falling house prices or the deep disappointment that is The World.
Dubai has already witnessed some minor protests, but these were focused on the unrest in Syria rather than issues with the emirate itself.
The UAE government is, of course, taking action to ensure its citizens are well looked after through its Emiratisation efforts.
Events like Careers UAE last week, where 15,000 students where given access to key employers across a range of sectors, show how locals get a leg up.
Many students attending the event were offered jobs on the spot, while most banks used the event as an opportunity to get the interview process underway for their Emiratisation programmes.
