The Middle East

Rising confidence among local consumers is being matched by the steadily strengthening economy, both of which should encourage spending in Abu Dhabi’s retail sector.

Although growth is expected to ease in Saudi Arabia’s competitive insurance sector this year, the industry still holds plenty of potential for expansion, particularly in the health and life segments.

Having maintained 47th place on the World Bank’s latest global survey regarding the ease of doing business, Oman has benefitted from the strong capitalisation of local banks and reforms making it easier to register property and connect to the energy supply. However, the report identifies that small and medium-sized enterprises (SMEs) could benefit from improved access to credit and further reforms to liberalise the business environment.

The Qatari construction sector is seeing renewed demand, stimulated by major projects linked to the FIFA 2022 World Cup. The building of stadiums and other projects should provide new opportunities for companies in the industry, which has seen increased competition and higher costs in recent years.

Tourism is cementing its position as one of the leaders of Dubai’s economic recovery from the global recession, as a burgeoning holiday trade leads to growing numbers of tourist arrivals that help to fill the new hotels. Lingering uncertainty in the wider market, however, could give pause to rapid hotel development.

Several of Saudi Arabia’s major cities – Jeddah, Riyadh and Mecca – and surrounding areas will benefit from plans to roll out public transport and construction projects over the next five years as part of a government drive to boost growth and address the Kingdom’s social needs.