Marketing in West Asian and Middle Eastern countries
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Non-oil exports are expected to play a vital role in further developing the comprehensive growth model to secure the region's future. Three countries, Saudi Arabia, Egypt and Morocco, ranked first among the Arab countries in the region in attracting tourists. For a long time, the Dubai Stock Exchange (DME) was the only price market in West Asia.
Why is importance of Middle East?
The Middle East is the connecting link between the three continents: Africa, Asia and Europe. In addition to the important geographical location of the Middle East, the widespread existence of international highways in the region has led to the increasing greed of international powers to dominance it.
This region is considered as the transit point of air and land transit between Europe and Africa with India and East Asia, which adds to its strategic dimensions.
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- Middle East art and craft Market
- Middle East Chemicals Market
- Middle East Construction Materials Market
- Middle East Crops Market
- Middle East Food Market
- Middle East Gemstones Market
- Middle East Metals Market
- Middle East Minerals Market
- Middle East Natural Stones Market
- Middle East Petrochemicals Market
- Middle East Petroleum Market
- Middle East Real estates Market
Economic importance of the West Asian countries
The location of the Middle East countries in the oil and gas-rich regions of the world, their importance in terms of energy supply is very important. This Asian region, as the center of the world's energy, has been doubly popular throughout the twentieth century.
The central part of this general area was formerly called the Near East. The name given to the region by some modern Western geographers and historians who were more inclined to divide the East into three regions, the "Near East", the region closest to Europe, from the Mediterranean to the Persian Gulf, and the Middle East, from the Persian Gulf to the southeast. Asia stretched and divided the "Far East", which referred to the coastal areas of the Pacific.
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Middle East industry
Industrial production in European countries decreased by 3.6% in 2019. Meanwhile, Turkey grew by 8.6 percent in the same period. Industrial production is one of the most important indicators of economic growth.
Meanwhile, steel consumption in the whole region of the Persian Gulf countries, and especially in the United Arab Emirates, has increased sharply in recent years, with the construction sector underpinning this growth.
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Middle East and oil dependent economy
It is expected that in 2021, following the resumption of economic activities and the resumption of demand, the non-oil sector in these countries will be revived, but the growth of oil production and demand in the world will be very poor.
Meanwhile, Saudi Arabia's economic growth is expected to reach 2% next fiscal year with the return of major national investment projects, boosting demand and increasing VAT.
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Oil independent economy of the Middle East
In the Middle East and North Africa region, the focus of governments is shifting to oil independent industrial activities, and long-term dependence on crude oil-independent businesses is gradually waning.
In the medium term, industries such as electronics, automobiles, plastics and agriculture in the Middle East are expected to grow at a healthy pace. This, in turn, will grow the industrial packaging market in the region.
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What is the level of the West Asian tourism industry?
Three countries, Saudi Arabia, Egypt and Morocco, ranked first among the Arab countries in the region in attracting tourists. The total number of foreign tourists in the Middle East in 2012 was reported at 52 million, a decrease of 5% due to tensions and unrest in the region.
Egypt was able to re-establish itself among the tourist countries in 2012 with an 18% growth rate, after overcoming the turbulent period that led to the fall of the "Hosni Mubarak" regime and the overall security situation in the country.
Middle East and West Asia Commodity Exchanges
Of the 22 major commodity futures exchanges, 10 are located in Asia, and in African and Latin American countries there are examples such as the South African Futures Exchange, the Johannesburg Stock Exchange, and the Brazilian Commodity and Futures Exchange.
This non-modern and completely traditional market called Aizanoi was used as a wheat market at that time and the prices were engraved on the stones of this place, but the establishment of the Istanbul Stock Exchange dates back to 1926, which in 2013 with The merger of the gold exchange and the long-term and futures exchange continued to operate. This market is now available in cyberspace and easily you can be a member of it.
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