Why should I do business in the Middle East and North Africa?
There are lots of reasons. The MENA markets are growing very rapidly, the economies of the MENA are expanding and so are the populations of MENA. In fact, this is the region of the world which is growing faster than any other apart from Africa. GDP per capita is higher than India and higher than China and household consumption makes up a higher percentage of GDP in the MENA markets than it does in China or India. So, what that means is that on average populations in the MENA earn more than India and China and they also spend more of what they earn. But I think it is also important to mention that because so many of the MENA markets are based on hydrocarbons, the other sectors of their economies are weak and that means that there are plenty of opportunities for Australian firms to export their goods and services into those markets.
Author: Cynthia Dearin
Cynthia Dearin is an international business strategist, advisor, keynote speaker and author of Amazon best-seller Camels, Sheikhs and Billionaires: Your Guide to Business Culture in the Middle East and North Africa. With 18 years of international experience, as an Australian diplomat and management consultant, she is the Founder and Managing Director of Dearin Associates and the International Business Accelerator that helps clients to access opportunities in fast-growing international markets around the world.