How to trade with Saudi Arabia: Customs tips
Economic diversification increases
Many of the countries in the Middle East are energy exporters with “fiscal cushions” that remain robust even when energy prices fluctuate. However, the countries are aware that natural oil is a finite resource and are taking active steps to plan for the future and expand into other sectors and industries.
Dubai is already ahead of this trend: as the Emirate never had oil and gas resources, it has already established itself as a trading hub, retail and tourist destination.
Market and product niches
As part of their drive towards diversification, the economies of the Middle East are investing in:
Infrastructure: projects include transportation initiatives such as metro and rail networks, as well as air and sea ports
Healthcare: populations and treatment trends (including medical tourism) are increasing
Education: there’s high demand for training the local population so the society can “look after itself” once the oil runs out
Security: solutions to address regional concerns about safety
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