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Dubai tops bankers' bonus wishlist
Bad bets on subprime mortgages might have blown mansion-sized holes in the balance sheets of some big banks, but bankers are not scaling back their plans for splurging this bonus season, according to Trader Monthly.
- Reuters
- Published: 00:44 February 3, 2008
- Image Credit: Gulf News Archive
New York: Bad bets on subprime mortgages might have blown mansion-sized holes in the balance sheets of some big banks, but bankers are not scaling back their plans for splurging this bonus season, according to Trader Monthly.
Lavish vacations in Dubai and a $265,000 (Dh974,670) sports car top their wish list in the magazine's annual reader survey.
"There seemed to be just as much enthusiasm this year for going out and spending money as there ever has been," said Ty Wenger, editor of Trader Monthly. "These are still guys who look at their money as monopoly money."
Despite billions of dollars of losses due to the mortgage meltdown, Wall Street bonuses are only expected to fall by 5.5 per cent in 2008, according to an estimate released this month by New York.
Readers polled by Trader Monthly picked a stay at Raffles Dubai hotel, where the cheapest room will set a guest back $1,600 a night, as their top getaway spot.
"Dubai as a destination has become so alluring. It has that mystical, anything is possible," Wenger said.
The Aston Martin DBS, featured in Casino Royale, was the favourite in the cars category, topping the Ferrari 599 GTB Fiorano and the Porsche 911 Turbo.
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