The Middle East

The number of international arrivals to Bahrain surged in mid-August, as visitors headed to the Gulf country to celebrate the post-Ramadan Eid holidays. The tourism sector appears to be more generally looking up after a challenging 2011, with its direct contribution to GDP projected to grow by 3.7% per year until 2022, according to the World Travel & Tourism Council. Recent investor activity is largely in line with these expectations, with a number of new hotels set to open in the coming years.

The agricultural sector is becoming more modernised and export-oriented, with an emphasis placed on increasing output and quality, as well as nurturing niche areas. Despite a number of challenges, particularly regional unrest severely curtailing exports to and through Syria, Jordan is in a strong position to leverage its competitive advantages as an agricultural producer.

Stepping up efforts to attract foreign investment to its shores, Sharjah is reaching out to the global market to spur growth at home, though the emirate is facing stiff competition in an increasingly tight global market.

Home to Europe’s seventh-largest pharmaceuticals sector and 16th largest worldwide, Turkey is aiming to continue expanding the industry as it welcomes the addition of new firms and investors. While a number of international companies have already set up shop in the country and several more are planning to follow suit, challenges remain for foreign entities, such as government pricing regulations and auditing demands.

The construction industry in Kuwait is poised for significant growth on the back of major government investment in infrastructure projects and social facilities, according to data published in August. However, the continuing lack of an approved 2012 budget has effectively meant that the government cannot sign off on any new projects.

Working to strengthen its reputation as a shipbuilding and maritime centre, Dubai is looking to leverage its location astride one of the busiest shipping lanes in the world and the growing need for local and regional maritime support to develop a major shipbuilding and maintenance industry.