Dubai vs China model
Dubai uses transaction-based model which means it does not expect anyone to live there. But provided you can visit and spend, that is fine. China expects people to live there which is tougher. For Dubai to accomplish that, it makes most parts Special Economic Zones (essentially zero or low taxes on buying/selling to attract people).
The "higher tourists numbers in Dubai" is simply because people are attracted by the SEZ as it is a trade haven.China does not want that as it wants to become industrialized. That is more challenging.
Tekedia Mini-MBA edition 14 (June 3 – Sept 2, 2024) begins registrations; get massive discounts with early registration here.
Tekedia AI in Business Masterclass opens registrations here.
Join Tekedia Capital Syndicate and invest in Africa’s finest startups here.
Compare Cotonou and Lagos. It is easier to import via Cotonou than Lagos as Cotonou has a SEZ in some areas. So, it is hot on trade. But apart from that, nothing else.
Every nation has to devise a growth strategy. China wants to build a modern industrialized nation as that brings employment. Dubai rarely creates jobs through its model. None is bad provided you can deliver the best value. With Emirates etc Dubai brings the world home, making this work.
For Nigeria, we need to move towards China model because if we try what Dubai is doing, we can grow numbers with no jobs. That would be catastrophic.
