TAG: Economy
Among the most diversified economies within both the UAE and the GCC, Sharjah has long played an important cultural and economic role in the region. Home to three free zones, 16 museums and a number of annual festivals that attract visitors from around the world, the emirate continues to perform in the realms of commerce and culture. Sharjah has developed strong manufacturing, tourism and logistics industries, among other non-oil sectors.
Over the past five years, Côte d’Ivoire has enjoyed one of the highest economic growth rates in the region. This is down to a combination of factors, including monetary policy stability, significant public investment in infrastructure and, more recently, a recovery in both the agriculture and mining sectors. While there are some headwinds that risk slowing this growth – including low financial intermediation rates, income inequality and a continued dependence on raw commodity exports – Côte d’Ivoire appears to have so far avoided the slowdown that has affected many other economies in the region.
For many years those of us who study the countries that form the Gulf Cooperation Council – Saudi Arabia, the UAE, Qatar, Kuwait, Oman and Bahrain – have grown accustomed to using and hearing one term more than any other: diversification. But what has also been just as common has been the frustration at the pace of the process.