Gulf Coast countries boosted by Dubai

The success of Dubai as a hotspot for overseas property investors is having a positive effect on neighbouring countries, it has been suggested.

According to Stuart Shields, publisher at International Homes Luxury Collection Magazine, places along the Gulf Coast want to emulate Dubai's recent economic growth.

The emirate has carved out a niche as an attractive destination for foreign property buyers and holidaymakers as it offers year-round sunshine.

Mr Shields said this shows that while desert land may initially appear to be unproductive, it can be a potentially lucrative environment.

As a result, other countries in the region are looking to see if they can reap similar rewards by building real estate and attractions for visitor.

"They've seen the trick from Dubai and they're following through," Mr Shields commented.

This comes soon after Gulf Weekly revealed that Dubai is becoming increasingly popular with people who want to spend their retirement overseas.