November 18, 2008

Is there more wealth in Dubai than in all of the wealthiest areas of LA / So Cal Combined?

santa fe vacation
CentralCalSurfer asked:

I returned recently from a vacation in Dubai and was shocked at how wealthy, cosmopolitan, and modern it was (as well as how fast it is growing). At least 60 percent of the city appears to be under construction, with most projects running well over $20 Billion and as for the 1.6 million people (only a fraction of the total population of LA) that live there, they all seem to have immense wealth. Every car is either a Ferarri, Porsche (I have never seen so many Porsche Chayennes in one place), BMW, Audi, Mercedes, or Bentley. There is not a single sign of a middle or a lower class exisiting in the area. The amount of money there (most of which doesn’t actually come from oil!) seems to be more than all of the money of Beverly Hills, Malibu, Hollywood, Rancho Santa Fe, La Jolla, Bel Aire, Santa Monica, or Newport Beach combined. There is so much money there that they are even constructing artificial islands (each costing $30 Million) in the shape of palm trees and one of the entire world!

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