The Middle East

The Turkish aviation sector is experiencing accelerating growth with foreign firms taking note of fresh opportunities. The new alliance in early March between Aéroports de Paris (AdP) and TAV, the Turkish airports operator, is a sign that the rapid growth in passenger numbers and air traffic at the country’s main airports has not only drawn interest from international investors but is also spurring TAV to expand to other regions.

RAK has seen a number of important developments in its education sector in recent years as the emirate continues its drive to become a knowledge-based economy. Most significant among these has been the decision to create a council to oversee and regulate the emirate’s growing number of colleges and universities.

The Kingdom’s insurance industry looks set to enjoy solid growth over the coming few years thanks to an increased flow of state investments and rising demand for health and property coverage. Greater awareness among Saudis of the benefits of both life and non-life insurance policies should also boost policy take-up.

The Jordanian government is attempting a difficult balancing act, working to boost economic growth while imposing a series of austerity measures intended to curb public spending and debt levels. These measures may prove unpopular with many in the electorate but should serve to strengthen the economy in the longer term.

Set to ride a rising wave of interest in its free trade zones, Dubai is cashing in on its long-term investments to further bolster its economy by attracting new clients looking for a stable and central base of operations. Dubai’s free zones are becoming increasingly important to its economy and represent a strengthening bond between the emirate and global trade.

Sharjah’s real estate and construction sector could be in for a welcome boost as the government looks to address the shortage of affordable housing in the emirate. And while lower prices in neighbouring rental markets could have a knock-on effect, the emirate’s prospects for real estate growth in 2012 are promising.