The Middle East

The tourism industry in Turkey could see stormy weather this summer with a sharp slowdown in arrivals from Russia and some European countries, combined with a weaker domestic market due to the sluggish economy. 

The arrival of the first liquefied natural gas (LNG) shipment from Qatar at Aqaba Port last month signalled a major step forward for Jordan’s energy sector, while also putting the country’s plans for developing transport infrastructure firmly in the spotlight.

Production from Saudi Arabia’s oil fields will remain at near record levels for the next few months, with Riyadh looking to maintain above-average output despite low prices.

While weaker growth and uncertainty have cast a shadow over Oman’s retail sector during the past 18 months, activity is expected to pick up in the medium term on the back of a rapid rise in leasable space, supported by increased government spending.

A push to bring new products and services to the stock market is being steered by the Central Bank of Bahrain (CBB), which regulates the country’s financial services industry. 

A tapering of demand will lower earnings in Dubai’s tourism and hospitality industry this year, though an expected rise in arrivals from emerging markets, in particular Asia, may offset weaker traffic from more established sources of visitors.