As conflict casts a shadow across the Middle East, people are getting rich in Dubai. Years after a momentary slump in the early days of the COVID-19 pandemic, the desert sheikdom’s economy is buzzing with tourism and construction as it positions itself as a safe haven in a region that’s resting on a knife’s edge following the assassination of Hamas leader Ismail Haniyeh in Iran. Dubai has a long history of indirectly benefiting from crises in the region. When the ultra-wealthy worry about turmoil, the city offers stability, low taxes and a friendly visa system.
