The Best Countries to do Business in the Middle East
Businesses are income-generating entities which have a positive impact on people and a region’s economy. Several factors determine the success of a business. These factors include political stability, market and labour availability. The Middle East region is known to be a business hub. The best countries to set up businesses there include:
United Arab Emirates
The United Arab Emirates is a country located in the Middle East with so much potential in business. The country has its capital in Abu Dhabi and uses the United Arab Emirates dirham as its currency. The country is populous with about 9.771 million people. This huge population and progressive political leadership provide businesses with enough human resource, markets and a suitable growth environment.
In 2020, Bahrain was ranked 2nd in the region and 43rd in the world in terms of suitability of doing business. This Asian country has its capital in Manama and uses a currency known as Bahraini dinar. Over recent years, Bahrain has had political stability making it a good location for business. There is a good infrastructure which aids the growth of businesses.
Saudi Arabia has been on a positive index in recent years when it comes to doing business. In 2020, it was ranked 3rd in the region, gaining two positions from 2019. Saudi Arabia has several attractions sites which provide many business opportunities there. Tourists make up a good percentage of customers for businesses in the country. The King here is Salman and the state has been experiencing moderate political stability.
In terms of the business environment in the Middle East region, Oman comes in at number four. The form of government in Oman is a monarchy where Sultan Qaboos bin Said al Said is the ruler. Despite the form of government, the country has been experiencing political peace which is favourable for business. The developing country has a stable economy although it is not performing at its maximum potential.