Khalaf Ahmad Al Habtoor: Hungary, Europe’s rising star
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While I do not minimise the hardships endured by many millions all over the planet or the economic devastation wrought by a virus that respects no borders, I am optimistic that once the plague is tamed most economies built on stable foundations, including that of my homeland the United Arab Emirates, will experience spectacular economic rebounds. People everywhere are anxious for their lives to return to normal and I can only imagine the celebrations once the threat is lifted.
This plague will be beaten like all others before it which is why my eyes are firmly fixed on the future. Headquartered in Dubai, my group has always prioritised investing in the United Arab Emirates not only because it is home but also because of its solid fundamentals and its ability to reinvent itself to overcome obstacles strewn in its path from the outside. However, in recent decades my group’s hospitality and real estate divisions have expanded its reach into Europe and the United States, adding several iconic properties to our hotel and real estate portfolio.
It goes without saying that decisions on whether or not to proceed with asset purchases abroad are largely based on feasibility studies. Businesses need to make profits. But profit is not the only factor that guides me; I need to feel a personal connection with the country in question, its people and, most crucially, its decision-makers.
Since I started investing in Budapest with my acquisition of Le Méridien Budapest in 2012 (now the Ritz-Carlton) everyone I met from top government officials to ordinary folk made me feel welcomed and appreciated. Hungarians are friendly, hardworking, respectful and genuinely helpful.
They are a proud people eager to do everything in their power to place their country high on the global investment and tourism map.
I have never met a single person in Budapest, whether Hungarian, foreign resident or investor that has anything to complain about. They seem to know where the country is coming from and where it is going.
Nowadays I always look forward to visiting Budapest not just from a business perspective but also to meet up with some of my dearest friends. Hungarians love to socialise and it is a joy to spend time in their company. I will always appreciate the special welcome organised by two of the most fun loving when I landed at the airport some years ago. To my surprise and great pleasure, there to greet me was a lively gypsy band.
I love Hungarians’ positivity and enthusiasm. Like us Emiratis they place great importance on maintaining close family ties. Many share my passion for tennis, and I have enjoyed lively conversations with well-known tennis players during my visits to the Hungarian capital.