The Middle East Economy

Like a latter-day Phoenix, Dubai’s economy has risen from the ashes and is soaring high and fast. So strong is the take-off that the crucial revenue-earning tourism sector has achieved a rare trio of simultaneous plusses – rising hotel rates, an increasing number of visitors and a growing quantity of hotel rooms.

The recognition of small and medium-sized enterprises (SMEs) as generators of jobs has become a proven fine art in Dubai, with the establishment of a dedicated agency inside the Department of Economic Development (DED). Between 1000 and 1200 would-be entrepreneurs approach the agency annually seeking advice, help and sometimes practical assistance...

Industrial zones, port developments, railways and fisheries projects are but a few examples of how investments are transforming Oman’s outlying regions. Such projects involve both public and private sectors, and many are large-scale. Big developments outside Muscat, which make up the largest chunk of investments, both domestic and foreign, are...

Boosting economic integration among the Gulf states has been a key component of the GCC since the organisation was established in late May 1981. Indeed, while the six countries that make up the GCC – namely Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the UAE – have implemented joint projects in a wide variety of sectors, economic cooperation...

Supporting small and medium-sized enterprises (SMEs) is near the top of the agenda for Oman’s government, as they are seen as a crucial element in the long-term goal of enlarging the private sector and creating jobs within it for Omanis. The sultanate’s leadership recognises that these grassroots businesses are key drivers of economic...