Saudi Arabia’s decision to weaken the link between hydrocarbons and economic growth, and pursue a policy of diversification has seen a wide range of projects come to fruition in the last several years. While at present the Covid-19 pandemic and the unprecedented plunge in oil prices are causing significant short-term uncertainty, the reforms that have been put in place in recent years should stand the Kingdom in good stead over the longer term.
Tourism is one of the most promising prospects for growth as Qatar aims to shift its economy from one dependent on hydrocarbons to one that is more diversified and sustainable. Efforts aimed at attracting visitors from a wider range of countries, international marketing campaigns and liberalised visa reforms have helped the sector maintain momentum despite the blockade. The 2022 FIFA World Cup...
Qatar has demonstrated considerable resilience in recent years, successfully developing new homegrown industries while at the same time strengthening its global ties. Although Covid-19 has introduced significant economic uncertainties in 2020, a rapid response from Qatar's authorities to curb the effects of the virus should stand the nation's economy in good stead over the medium and long term.
The year 2020 marks the 50th anniversary of the establishment of the Sultanate of Oman, making it the longest continually independent Arab country in modern history. The year also marks the passing of Sultan Qaboos bin Said Al Said, who died on 10 January. He is succeeded by his cousin and the former minister of culture, Sultan Haitham bin Tariq Al Said.
Bahrain pioneered oil production in the Middle East beginning in the 1930s, establishing the region’s initial framework for the petroleum industry. Some 90 years later oil and gas operations comprise 18% of GDP, with the economy well diversified to host established financial services and industrial sectors, as well as unique tourism offerings.
Home to one of the region’s most unique island geographies, UNESCO World Heritage sites and the popular annual Formula 1 Bahrain Grand Prix event, Bahrain already has much to offer visitors. The capital Manama has a long-established reputation for its high-end retail and hospitality offering, providing tourists from neighbouring states, notably Saudi Arabia, with a convenient getaway...
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