The Middle East in Transition

Paper Summary:

The paper explores the economic transformation of Dubai, Qatar, Kuwait and Israel. The paper shows how these leading examples are creating a new, major and positive economic influence, within the new order of the Middle East, that will influence the global economy. The paper reveals that the most challenging part of change needed to support the continued growth of the Middle East lies on the political front.

Outline:
Introduction and Overview
Oil Based Economies
Saudi Arabia's Rise
The Dubai Model
The Qatar Model
The Israeli Model
Competitive Edge
Tourism Strategy
Banking Development
Communication and Technological Developments
Media and Press
Critique of the Region
Conclusions

From the Paper:

"The Middle East attained its world economic importance due to the vast reserves of oil and natural gas in the region. The economies of most these countries were enhanced, either directly or indirectly, by the economic foundation of the vast oil resources in the region. However, with the passage of time and particularly since the late 1960s, the region has established its own peculiar identity in the global economy."
"The transformation of a region known for it natural resources and credited with providing energy for much of the world, has seen the emergence of an economic complex not totally dependent on oil. Saudi Arabia serves as good example of this economic diversification. While Saudi Arabia is well-known as the world's largest exporters of crude oil, however"...hydrocarbons are not the only significant part of the kingdom's fast expanding diversifying economy in which the non-oil industrial sector grew by an estimated 10 per cent in 2006." ( Saudi non-oil exports build new economy)."

Sample of Sources Used:

• Clifford, B. (1999). Banking in the Middle East. The Middle East, 287, 33+.
• Country forecast summary (2006) Retrieved March 8, 2007, from proquest.umicom.libarary.capella.edu 2/27/07
• Dubai Shows Gulf There Is Life after Oil. (August, 2005). The Birmingham Post: 19. ( Incomplete reference?)
• EIU NewsWire, Country facts sheet. ( 2006) Retrieved March 8, 2007, from proquest.umicom.libarary.capella.edu 2/27/07
• EIU NewsWire, Qatar economy: Different drumbeat. ( 2006) Retrieved March 8, 2007, from proquest.umicom.libarary.capella.edu

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