Gulf leaders had hoped economic activity would bounce back after the summer. Instead they "expect the rest of the year will be a washout": - passenger traffic at Dubai airport was down 31% in the first half of 2026, and hotel occupancy fell 24 points - big events are being cancelled or moved: the Bahrain Grand Prix will take place in Malaysia; Saudi Arabia shifted an e-sports tournament to Paris - residential property sales fell 31% in Dubai (and 59% for luxury properties) - Asian countries,