Gulf countries normally hailed for being among the safest in the world, attracting mns of expats for that very reason, saw the bubble pop briefly for the first time in years this week when Iran attacked the US military base in Qatar. The attack, despite being followed by a ceasefire, shook many of the newer expats who viewed places like the UAE and Qatar as neutral havens shielded from war, the Financial Times writes.

“Some of the newer people, even in Dubai, were like ‘oh my god, this isn’t what I signed up for,’” said one banker based in the UAE. Panic started to infiltrate the expat community, with some planning escape routes to Oman, and other employees asking companies if they could be evacuated, though firms kept calm.

While others maintained a calm demeanor, many were still concerned about disruptions in travel, especially given the summer months are when expats plan their time off to visit home or travel. But in the grander scheme of things, economists in the region say the brief tremor is unlikely to leave a lasting impact, with one citing the Saudi economic slowdown as much more consequential than the “drama of the last few days.”

But Bloomberg points to the resilience of the UAE’s business environment, noting that while the Iran-Israel flare-up briefly closed airspace and triggered contingency planning, activity quickly resumed. “We had a period of 48 hours where buyers were reluctant to pull the trigger. However, now it’s business as usual and buyer confidence has bounced back,” said Myles Bush, chairman of Phoenix Homes. Stock exchanges also hit new highs, and bankers reported no signs of capital flight — signaling that the UAE’s “safe-haven status” remains intact despite the shock.

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