The first ever Abu Dhabi Media Summit was held this past week at the impressive Yas Hotel, which will be the site of the Grand Prix later this year. The track literally goes around and 'through' the hotel so it should be quite a show for guests. At any rate, it was my first trip to the region and an informative one. I first went to Dubai and then on to the Summit:
- Dubai is a grand 'if you build it, they will come bet'. It doesn't have the oil of its neighboring Emirati states and so it decided to fashion itself as the commercial/financia/media center of the region. Last year's crisis obviously took a lot of the wind out of Dubai's sails but the show goes in. It was as expected from that I've read and heard: a growing but soulless city offering lots of professional opportunities. Many of the people I met tried to rationalize either their time in Dubai or else were a bit on the defensive when asked about the crisis. But it is a melting pot (literally in the summer!), with people from all over the world living and working there.
- Dubai is known to go over the top on many things and buildings is no exception. The Burj Khalifa skyscraper, is truly magnificent.
As many publications have noted, by changing the building's name in Sheikh Khalifa's honor, Abu Dhabi reminded Dubai just where it's bread is buttered, after bailing it out last year.
There is also a metro with beautifully-architected stations but no one seems to use it much. - The Abu Dhabi Media Company have ambitions to become a real player on the world media stage. With speakers such as Rupert Murdoch and Eric Schmidt and the high caliber of attendees, it is well on its way.
- Digital media is still in a relatively early stage in the region - for instance, there aren't any credible remnant ad networks. Proper broadband connectivity at affordable prices is only a few years old, and that is mainly in the Emirates as opposed to other Gulf or Middle Eastern countries.
- Middle Eastern business norms involve establishing and respecting hierarchy whereas Western and especially Internet business culture tends to be egalitarian. This proved a sometimes jarring juxtaposition.
- Having speakers and attendees from China and India - two rapidly emerging internet powers - made lots of sense and bodes well for the ADMS.
- While people recognize that it's early days for the region, there is a sense of possibility given the wealth and demographics.
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