Patrick Schwerdtfeger is a motivational speaker who can speak about infrastructure spending and its impact on economic development at your next business event. Contact us to check availability. The full transcript of the above video is included below.
Full Video Transcript:
Hey, this is Patrick and welcome to another edition of Strategic Business Insights. I’m standing at the very tip of the Jumeirah Palm Island, which is one of three islands that were built here in Dubai in the United Arab Emirates, and this here behind me is the Atlantis Hotel.
What we’re going to talk about today is infrastructure. If you came here and saw the amount of development and infrastructure that’s being created here, it would blow your mind. It’s blowing my mind. And you compare that to what’s going on in the United States or what’s going on in Europe, and the reality is that the infrastructure is getting older and older particularly in the United States.
Take for example high-speed rail. United States has absolutely no high-speed rail. Meanwhile, there’s high-speed rail in Europe. There’s certainly high-speed rail in Japan. China is building all kinds of high-speed rail and there’s high-speed rail in South Korea. There’s high-speed rail in Taiwan, Singapore. All these places are building infrastructure.
The same thing is happening here. They’re building unbelievable infrastructure. Whether it’s freeways or light rail or high-speed rail, different projects that they have going on, they’re investing heavily in their own infrastructure.
Now, the United States, I mean certainly 40 years ago, we had great infrastructure relative to the other countries at that time. But as time has gone on, the United States has not been investing as heavily in infrastructure, and now if you look at the airports and the freeways, the lack of high-speed rail, all that type of infrastructure is really decrepit in the United States compared to the rest of the developed world, and even to some extent the emerging markets like China, and this is here in the Middle East.
Now, this island, Jumeirah Palm Island, is enormous. It is five kilometers from one side to the other and it stretches out into the Persian Gulf five kilometers. That’s over three miles. So this is an absolutely enormous project. And on the island, there are over 30 hotels and theme parks and attractions that have been built. So this island is so large. It’s one of three islands. You can actually see this development from space. It’s one of the few things here on earth that you can actually see clearly from space, is the Palm Islands here in Dubai.
Now, this is one example of enormous infrastructure that’s being built. This Atlantis Hotel is right on the very tip, and behind me right here is the Persian Gulf. It’s all water right behind here. That’s the Persian Gulf. On the other side is Iran. They’re building aggressively and building a lot of infrastructure.
From a business perspective, infrastructure greases the wheels of business. Just last night I was at a dinner and I was speaking with a gentleman who used to live in Canada, lived in White Plains in New York for quite a while near the Connecticut border, and has moved back here to Dubai, and he was telling me that it’s so much harder to earn money and be successful in business in Canada or in the United States than it is here in Dubai. Now, there’s a lot of money here. There are a lot of reasons why that’s the case. So I’m not saying that it’s exclusively the result of more infrastructure, but infrastructure helps. Infrastructure means everything runs smoother and…
Listen, again, there are tons of problems here. This place doesn’t run perfectly smoothly at all. I’m not making that suggestion. What I’m saying is the United States needs to invest more heavily in infrastructure as a way to boost the domestic economy. And secondly, if you’re in business and you’re considering expanding to other parts of the world, you should look at the places that are investing heavily in infrastructure because it’s going to make your job easier when you start your business in some of those new economies.
So once again this is Patrick, thanking you for watching the video and reminding you to think bigger about your business, think bigger about your life.
Video Description on YouTube:
Patrick Schwerdtfeger discusses the aging infrastructure in America and compares it to the incredible real estate and infrastructure developments being undertaken in China and the Middle East. The video is recorded at the tip of the Jumeirah Palm Island in Dubai, right in front of the Atlantis Hotel. The Jumeirah Palm Island is one of the few man-made structures that is visible from space. Patrick uses high-speed rail as a perfect example of how emerging economies are investing in infrastructure in a much more aggressive way than the United States of America.
Infrastructure is good for business. It greases the wheels of business, allowing economic activity to flow smoother and faster in the region. America needs to begin investing more into local infrastructure including high-speed rail, freeways, water infrastructure, airports and sewage processing facilities. It’s a problem that creeps up slowly but can eventually result in a strategic economic disadvantage for American business competing on a global stage. If left unchecked too long, it can even contribute to a larger economic collapse.
NOTE: Patrick Schwerdtfeger is a keynote speaker who covers topics surrounding the Middle East and in particular, how western nations should interact with the Muslim World.
Patrick Schwerdtfeger is a keynote speaker who has spoken at business conferences in North America, South America, Europe, Africa, the Middle East and Asia.