The Middle East

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A renewed focus on developing the tourism and industrial sectors has driven a construction boom in Ras Al Khaimah (RAK) and led to the development of a host of industrial, residential, commercial and retail spaces. To support this growth, the government has at the same time invested in basic electricity, water and sewer networks.

A combination of aid and investment from its Arab peers and stronger regional trade ties is proving instrumental in helping Jordan draw a line under several years of sluggish growth.

An increasing number of Kuwaiti lenders are moving away from traditional banking in a bid to tap into a booming market for Sharia-compliant financial products in the region - a move that could soon see Islamic financing overtake conventional banking in the Gulf state.
Prime Minister Recep Tayyip Erdogan speaks to Oxford Business Group about his country’s economic rise

Since its establishment in late May 1981, the GCC has experienced over three decades of rapid economic growth. The bloc’s six members – Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the UAE – have benefitted from greater integration and cooperation over the years, and continue to work to diversify their economies to maintain their competitive edge.

Despite having to weather a combination of regional instability, domestic volatility and a hotly contested election season last year, Turkey’s economy began 2014 with a surprisingly strong performance.

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