Tourism in Saudi Arabia as a palliative equivalent to oil exports

The International Monetary Fund in its recent report on Saudi Arabia informed that the country whilst reconsidering the speed at which it is taking steps towards austerity, it is nevertheless avoiding slowing down its economy, to notably not increase its unemployment rate. This report holds that although the budget deficit is shrinking, it is doing so at a high cost to the economy. Before adding that : “Riyadh has been cutting spending while raising taxes and fees to curb a huge state budget deficit caused by low oil prices. Last December it published a plan to eliminate the deficit, which was a record $98bn in 2015, by 2020.”  Tourism in Saudi Arabia as a palliative equivalent to oil exports related revenues has been reiterated as such for very long but was never taken this seriously.
It is to be noted that with the prospects of oil prices remaining low for the foreseeable future and the global economy possibly opting out of anything to do with fossil fuel type of energy soon . . . .

Qatar will not Negotiate with Arab States during Blockade

Qatar will not Negotiate with Arab States during Blockade unless they reverse their measures,” Qatar Foreign Affairs minister was reported as saying by the Saudi owned and Dubai based TV channel Al Arabiya on June 19, 2017.  This was presumably in response to the non-equivocal statement of the UAE’s minister of FA who confirmed that his country together with Saudi Arabia, Bahrain and Egypt are standing firm on their decision of 2 weeks ago to isolate Qatar from the rest of the GCC countries and that this isolation could last years.
Meanwhile, the Financial Times’ Gideon Rachman warned its readership that the Qatar crisis could . . . .

Nationalities investing in 2016 Dubai

. Dubai has over these recent years acquired a deserved notoriety of most attractive business centre of the MENA south east region and as such, it does pull in a great deal of worldwide investment in as diverse a range of sectors as it can locally offer. This article examines the Nationalities investing in 2016 Dubai, is however not only interested in the investors country of origin but also in the levels of investments. Dubai is well known these days by all, that retail and all related trade, storage, transportation, etc. are its greatest forte and as a matter of consequence, property of all estate type has become as put by Sultan Butti Bin Merjen, director general of the Dubai Land Department (DLD), who was heard saying : “The Dubai real estate market has managed to maintain its robust appeal this year and is now emerging as one of the foremost

Freezing of the Oil Production

Failure of the meeting OPEC/Non-OPEC at Doha… As I highlighted it recently here (Ref. my earlier article OPEC & non-OPEC countries in Doha) and in several other of my national and international contributions, renewed tensions between Saudi Arabia and Iran have compromised the conclusion of a binding agreement on the freezing of the oil production on […]

Un pont entre l’Égypte et l’Arabie Saoudite

La Croix (avec l’AFP) a rapporté le 09/04/2016 que l’Égypte et l’Arabie saoudite se sont mis d’accord pour construire un pont entre l’Égypte et l’Arabie saoudite, sur la mer Rouge reliant les deux pays, un projet extravagant qui vient une nouvelle fois illustrer le soutien apporté par Riyad au régime du président Abdel Fattah Al Sissi. […]

UK’s influence in the MENA countries

There is more than ever talk about the UK’s influence in the MENA countries, especially in those ones with questionable governance models.  Saudi Arabia comes first to mind with a succession of recent trade or commercial exchanges of services and / or goods being objected to by a majority of UK Civil Societies, NGO’s, etc. […]