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Middle East Economies: A Response - Essay Example

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The Gulf States will continue to grow economically but at a much slower rate. There is a need for the Gulf States to diversify their economies to accommodate other sources of income so as to supplement diminishing oil wealth…
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Middle East Economies: A Response
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Middle East Economies: A Response

Download file to see previous pages... One such state is Dubai, one of the Emirates in the United Arab Emirates (UAE). Dubai mastered the skill of diversification so well that non-oil revenues are at a staggering 71% in 2014. Other countries like Saudi Arabia are also following this trend. There is still much to be done among the Arab nations in terms of economic growth, but current trends seem to be towards the positive direction.
I think the idea that the Middle East has an unsustainable population is a bit exaggerated. The unemployment in the Middle East is way lower as compared to the rest of the world. The per capita rates in Middle East are also very high. I n addition, the building boom of the 2000s has led to increased employment opportunities. I also think the population of the Gulf States is not growing as fast as the economic is growing. Owing to this fact, I see a possibility where the Gulf may be forced to import skilled and unskilled labor in high numbers in the near future. However, there is some truth in your argument. The number of youth being educated in the Gulf is becoming increasingly greater than the economy can sustain. ...Download file to see next pagesRead More
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