Why is the GCC region relevant to almost any multinational company’s long-term global strategy?
AAR: There are a number of compelling reasons, but market realities are often misunderstood. I devote a full chapter of the book to de-bunking common misconceptions people have about the region in an effort to clarify the business opportunities that exist. GCC per capita income is three times China’s and five times India’s, so compared to other emerging markets it represents a considerable opportunity. In another chapter, I discuss the GCC as a new market that is here to stay. It has its elements of attractiveness – sustained prosperity, attractive demographic shifts, and ongoing de-regulation – as well as risks. The demography of the region, with half of the population under 20, means that growth opportunities will be present for many years. The younger generation in the Gulf is well-educated and more connected to the broader world than previous ones. This is in stark contrast to the usual television images of the Middle East states as dispossessed, violent, or failing. Another miscon
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