The Middle East

The Economic Diversification

Many of the countries in the Middle East are energy exporters with “fiscal cushions” that remain robust even when energy prices fluctuate. However, the countries are aware that natural oil is a finite resource and are taking active steps to plan for the future and expand into other sectors and industries. More.

The Opportunities

Accordingly, there are significant opportunities for businesses to bring their goods to market. Peter Cook illustrated this with the example of airplane purchases: “When Emirates buys planes, they buy 100 at a time. This means that every time Emirates buys a plane, they need to hire a team of 400 to service the plane – 400 extra families that need retail, healthcare and leisure.” More.

Food Export

Saudi Arabia, the United Arab Emirates and Iraq are among the top Middle Eastern exporters of food products such as dairy, eggs and honey. According to figures by the World Bank, these three countries exported US$599,706, $563,860 and $367,901, respectively, in 2015. The entire region exported nearly $4 million worth of food products, according to figures for that year. More.