12 months ago, Dubai was hailed as the playground for the ultra-rich. Manmade islands rose out of the water, tourists marveled at the indoor ski slopes. Now, it's a wasteland with discarded homes, dying lawns and abandoned cars. It's actually kind of fascinating, a modern day Babylon.
The story of one expatriate couple who worked in Dubai is illustrative: "At the time this photo was taken, Kayla had recently been laid off and Hendrick hadn't been paid in months. After exhausting their savings to pay the mortgage on an apartment that had lost 40% of its value, they were left with no choice but to go home. "No one ever said, 'Do you know that if you lose your job, or can't pay your mortgage, you'll have to go to jail?' " Kayla says. "We had to flee the country with our tails between our legs, as if we'd done something terribly wrong.""
For Fast Company's slideshow, click here.
Comments