What's a Few Hundred Billion When You're Swimming in Oil?

The theme park development boom in the United Arab Emirates continues to boggle the mind. According to reports emanating from the Middle East, there are over 30 properties set to open over the next few years, including such high-profile parks as Universal Studios, Warner Brothers, SeaWorld, Marvel Entertainment, Six Flags, and Dreamworks. The latest news is that Dubai's existing Wonderland park will get a $167-million makeover. How much money will it take to build all of these parks? That's where the news gets as murky as crude oil. In an earlier blog, I wrote about the ludicrously overblown number of $3 trillion that's been reported as in play for the UAE's parks bonanza. I figured that a few zeros might have been lost in translation to U.S. currency. Recently, AME Info has posted a somewhat more believable--but still stratospheric--figure of $62 billion being invested in the country's parks. Then, Taipei News countered with that pesky $3 trillion number again. That report claims that park spending by guests will reach over $200 million by 2011. I'm no economist, but annual revenue of $200 million doesn't sound like much of a return on $3 trillion.

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