Middle East Business Opportunities 2020. Not all Middle Eastern countries are the same and while things may be going badly in some parts of the region, in others they are going very well. To the less informed, the idea that small business people should start doing business in the Middle East seems like madness. The GCC states (Gulf Cooperation Council ) have plenty of money and their economies continue to grow. Most of them are also aggressively pursuing economic development and diversifying away from oil and gas as their key source of revenue. The trend towards liberalization has helped to stimulate growth in sectors such as construction, financial services, health, tourism, and renewable energy. It has also created opportunities for foreign companies from all sectors to capitalize on growing markets in already wealthy economies and there is an ongoing demand for foreign investment and foreign expertise across the board.
Middle East Business Opportunities and Small Business
Does Small Business Have A Future In The Middle East? Conducting business in the Middle East is a process of learning the culture. There are certain nuances an outsider would need to know. The new business class may come from ex-patriots who go back. What they’re going to watch for: how stable is the current government. They’re going to look for opportunities in technology, possibly in telecommunications, because of dependency on cell phones. In a country that never had a landline system, everyone is on his mobile phone all day. The other major challenge would be working with a populace that hasn’t been raised to work in a free-market system. The problem with the people in the Middle East: They all want to work for the government and major companies. It’s steady and good pay. Most Middle Eastern countries have created a generation of zombies. Many of the countries have an over-educated population whose younger adults are unemployed, and the maids who change your sheets in the hotel may have college degrees.
Middle East Business Opportunities 2020 – Getting Started
So what should you do? Create professional networks for businessmen. Facebook and LinkedIn might be great systems for getting that going. Women were never part of the economic equation in the Mid East before. You need to take some of these women, who are very bright and motivated and give them the skill sets and eventually, the next generation won’t have a separate work environment, says one insider. You have to create a diversified academic curriculum that teaches how to start a business, grow a business. They need to plant a lot of grass seed and hope the grass gets big and tall. The next thing: The trees get planted. Middle Eastern countries don’t have professional networks or mentor programs through which people can learn about running businesses. There may be great potential in the Middle East for Middle Eastern-born people or returnees, but overseas entrepreneurs and newcomers will likely have a difficult time for many years to start making money there.
Middle Eastern New Business Opportunities for 2020
Middle East 13 Nations
Area: Emirates and Arab Countries