The Middle East

High domestic spending and sound levels of liquidity are expected to offset any adverse effects of Europe’s debt crisis on the Saudi Arabian economy, and the Kingdom looks set to maintain its solid growth for the remainder of this year and into the next.

Oman’s economy looks set for a period of solid expansion, with the state’s pump-priming efforts of the past year having a positive impact on growth. Much of the same is expected in 2012 as the government increasing its spending to create jobs and improve key infrastructure.

Qatar’s tourism sector will be one of the big winners of the 2022 FIFA World Cup, with an accelerated building programme of hotels, hospitality facilities and entertainment centres aimed at making sure fans will enjoy their stay, though care has to be taken to ensure that once the World Cup is over, visitors keep coming through the turnstiles.

Already the world’s 7th most-popular tourist destination, Turkey has continued to grow in 2011, as economic expansion and political stability raise its profile in the region. The country saw a 10.76% increase in visitors between January to September 2011 compared to the same nine-month period in 2010.

During the first three quarters of 2011, the Ras Al Khaimah (RAK) construction industry has pressed on with scheduled mixed-use development projects.

Abu Dhabi will soon be connected to the other emirates of the UAE and to the wider region by a broad-gauge rail network that will streamline logistics, boost exports and increase industrial development.