Following the global oil price drop in 2014, Oman – like the other GCC states – is pushing ahead with its long-term national development plans that seek to diversify the economy.
Tourism
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A diverse land of thermal springs, mountains, historic sites, vast desert and unspoilt Mediterranean coastline, Algeria offers a remarkable variety of activities for travellers. However, a decade-long civil war ending in 2002 and an antiquated transport infrastructure network have curtailed growth in the tourism sector, alongside negative perceptions abroad and a cumbersome visa regime. The flip...
Algeria is a key producer of hydrocarbons in Africa, ranking first in gas output and among the top three for oil. It depends on the sector for the majority of government revenue and nearly all exports. Despite reforms to encourage private sector development, promote diversification and attract FDI, the state plays a preponderant role, meaning that changes to government expenditure and investment continue to have a large impact on economic performance.
Combining oil and gas wealth with the entrepreneurial efforts of its predominantly young population, Nigeria has developed a business-friendly environment over the past two decades of civilian rule. The country has effectively leveraged its abundance of natural resources and harnessed the strength of its 193m-strong population to become a key nation both on the African continent and beyond.
As hydrocarbons forms the backbone of Kuwait’s economy, the resurgence in global commodity markets bodes well for the future and has led to a renewed sense of optimism. The recovering market is also supporting the government’s diversification efforts under the auspices of the Kuwait National Development Plan, or New Kuwait.
With new promotional campaigns and its popular “Djibeauty” slogan, the country has garnered positive attention from international media and received prestigious accolades in recent years. As outlined in the Djibouti Vision 2035 strategy, the government’s national development policy launched in 2014, economic diversification beyond trade will rely heavily on the country’s ability to sustainably...