A rising number of tourists combined with steady job growth is driving demand in Bahrain’s retail sector and spurring the development of a number of new retail centres.
The Middle East
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Economic view | John Brash, Founder and CEO, Brash Brands, on the role of branding and the diversification of Gulf economies
6 Jul 2016
John Brash: Diversification has been a deliberate policy of GCC governments for some time. The drop in hydrocarbon revenues actually shows this to have been apt and robust. So while the doom-and-gloomers would have us think the region was forced to diversify, it is actually the opposite: a case of foresight being proven. The result is that the GCC has, in the main, been able to ride out the fall in oil prices with typical panache.
Tourism is set to take on a pivotal role in the Saudi Arabian economy, with business, leisure and faith-based travel all identified as vehicles to raise the industry’s profile and generate both revenue and employment.
Recent regulations on sukuk (Islamic bonds) are helping drive growth in Oman’s Islamic banking sector, with sharia-compliant lenders gaining ground.
Far-reaching reforms aimed at strengthening Kuwait’s national health care system are gaining momentum, as the government moves forward with its plans to rationalise public spending in the face of a rising budget deficit.
Economic update | Abu Dhabi tourism tipped to rebound
25 Jun 2016
Stronger product offerings and continued investment in Abu Dhabi’s leisure and hospitality infrastructure look set to generate a rebound in the emirate’s tourism sector.