Business in the Gulf is booming. Tourism, financial services and construction are growing strongly, spurred by ambitious development plans and financed by high oil prices and increased production. Bahrain, Kuwait, Oman, Qatar and the United Arab Emirates are all carrying out reforms to encourage private sector growth and diversify their economies.
But there are challenges too. For Bahrain and Oman, reserves of oil are fast diminishing and growth beyond oil is necessary. For all the Gulf states, there is an urgent need to create quality employment opportunities for their rapidly growing populations. This report looks at these issues and the business opportunities strong growth and diversification plans are creating. Australia’s trade with the region has grown rapidly and as the report shows, Australian companies are well placed to access new opportunities.
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