World’s Economy

by T.D. McCay, Ph.D.

Editor’s Note: Dr. McCay recently returned from a trip to the Middle East where he visited with Florida Tech alumni and explored new partnerships for the university.

Everyone has done some serious belt tightening over the last few years, including Florida Tech.  The few days spent in the United Arab Emirates show similar such behavior here.  Dubai overbuilt and now has 1,000’s of empty spaces available.  Abu Dhabi, the neighbor emirate, bailed them out but things are still lingering.  All the signs there are that the economic downturn is over and that things are slowly recovering.  They are concentrating on education in the recovery, positioning them to take leadership in several arenas.  They believe the best guarantee one can have is a quality education.  I firmly believe they are right and that is one of the main reasons I encourage everyone to stay in school until they finish.  The job market is now growing and everyone will want the best candidate which generally means the better educated candidate.