The Middle East

While international investor confidence has been affected by the global financial crisis, the sultanate has remained relatively stable, with sustained high oil prices resulting in increasing government spending and higher disposable incomes. Moreover, these are exciting times for Oman’s capital markets, as a number of recent initiatives aimed at broadening activity are coming into play. The...

Backed up by strong macroeconomic fundamentals and the sultanate’s reputation for stability and sound financial management, Oman’s banking sector has been remarkably resilient in recent years. The sector has registered good growth in the face of market volatility linked to the Arab Spring and the eurozone crisis. Going forward, banks are now entering a period of substantial change. In 2013,...

While hydrocarbons accounted for 38.8% of the sultanate’s GDP in 2011, non-oil activities have grown by 55% from 2007 to 2011, from OR9.2bn ($24bn) to OR14.3bn ($37.7bn). Of these, the services sector has consistently been the largest category recently, hovering between a 30% and 40% share of overall GDP, with industry making up some 15-20%. However, despite the growth of non-oil activity, 2012...

This section includes an article focusing on Qatar’s strong equestrian tradition. In recent years, leaders have been making moves to reintroduce the state’s equestrian past. This has involved investing in facilities at home, as well as building up Qatar’s profile in racing circuits abroad. The chapter also includes a listing of leading hotels and resorts, as well as useful telephone numbers and...

With assistance from Clyde...