The fog around the Strait — and the lessons for business

‘What’s the latest on the Strait?’, a friend asked as I was about to roll in a par during a round of football golf with our kids (it’s great fun, give it a try).

‘Errrm, it’s complicated… and there’s, errm, hope that they…do the, errm…”, I replied with the confidence of a school pupil who was about to tell a teacher why the dog had eaten their homework again.

In my role, I do like to think I have a grasp of what is happening with the current situation and the likely next steps, but I also have to be honest when the fog of uncertainty creeps in.

The team at Gulf News has great knowledge built over years of covering news in the region. They’ve been right on most things since February 28. However, the last week has been particularly confusing. I’m not being hard on myself about my own lack of clarity, as those with far greater insight than me are also somewhat lost.

What I do have confidence in is that business continues to adapt and evolve. I have been out and about and I’ve been stuck in traffic, I’ve queued in the mall, and I’ve been frustrated waiting on an order in a busy bar. A few of life’s ‘first-world problems’ and encouraging signs that the economy continues to recover.

I recently read a piece online about how marketing is often the first thing to stop during such uncertain times as these. Is it wise to keep hold of those budgets and wait for ‘better times’ ahead? Companies often see marketing as discretionary and easy to pull back to keep on track with their forecasts.

I wholeheartedly disagree. Short term it makes sense, but we know this country and the economy will surge when the time is right - and the people here will remember who communicated best over the last few months. Yes, uncertainty makes business planning harder, but you won’t get a better opportunity to instil your brand’s values in your customers. People will recognise those they saw regularly during the hardest moments and will forget those who withdrew from the market.

This isn’t a massive plug to come and advertise with us at Gulf News, although we do have some incredible options that we can discuss with you all! I genuinely think those who keep pushing during this time will reap the rewards for years to come. It’s just my opinion, but it’s one I’ve also had said to me by prominent business leaders here in the UAE.

We are all expecting a busy Eid of staycations and vacations that will help the hospitality industry no end. I’m doing some last-minute planning for the family as we look forward to a peaceful week of rest and recuperation here in the UAE (it’s good to support local) after a tiring few months.

Elsewhere in the world, I’ve been keeping an eye on the UK news as the country seems to be stuck in a vicious cycle of not knowing what it really wants from a Prime Minister. Keir Starmer is articulate, pragmatic, thoughtful and seemingly a bit too boring for a Western world now focused on personality, bold statements and big promises, instead of delivery.

 How can a country change leadership every year and expect growth and stability? Uncertainty reigns and with that comes a lack of confidence.

The UAE is very lucky to have such steady and forward-thinking leadership that understands that the pace of change has to be rapid, whether it be AI, transport or healthcare - and that communicating it is key, even when it is difficult to do so. There’s a lot to be admired. 

We’ll continue reporting and digging into the facts we know about the current situation as we always do. Uncertainty brings out our curiosity. Let’s hope we soon see positive movement on a deal that allows full, open passage along the Strait and terms that are to the benefit of the UAE.