Sometimes, a year can be a long period in the course of history. Just one year back, a vibrant economy, more than average population growth, and increased focus on tourism had all fuelled the need for a constantly expanding infrastructure in the Middle East. This all led to an explosive growth of the construction industry, and provided increased demand for glass, not just in the UAE, but across the Middle East Asia region. Then came the downturn, which led to countless stalled projects. This article examines the current situation and concludes that although the UAE has attracted a lot of bad press in the last few months, things might not seem as bad as they have been written. The UAE is expected to return to double-digit budget surplus in 2010 on the back of rising oil prices and increased output.
