Financial Times FT.com

City-state forced to rein in ambitions

By Simeon Kerr

Published: July 20 2009 01:38 | Last updated: July 20 2009 01:38

A s entrepreneur Simon Ford left Dubai with his family last month, he was following a trail of expatriates who have left the emirate since the global financial crisis tripped Dubai last September.

Once feted as one of the city’s top entrepreneurs, Mr Ford ran Bluebanana.com, an online gift experiences company, offering hot air balloon rides and desert driving courses, but as the company expanded, tourism numbers nosedived, forcing the business into trouble. He was faced with threats from creditors and a legal system stacked against him as the company’s owner, and decided to leave Dubai.

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