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Dubai & Co.
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Dubai & Co.

Global Strategies for Doing Business in the Gulf States

Aamir A. Rehman
McGraw-Hill, 2007
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Editorial Rating

8

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  • Innovative

Recommendation

Little heard-of, but increasingly important, the six nations known as the Gulf States are using their oil wealth to become global players in world finance. In turn, multinational corporations are recognizing that these nations should become integral parts of their expansion plans. All this makes author Aamir A. Rehman’s work important to any business investigating this marketplace. He provides a cultural, economic, historical, political, demographic and geographic overview of this area, while spelling out the pros and cons of doing business there. Through this book repeats some key sections, Rehman keeps advancing his presentation, so any intrepid reader will have a strong foundation for future business plans. Think of this as a business guidebook to the region. If you are investigating an expansion in the Gulf States, getAbstract would suggest that an investment in this book could generate large returns.

Summary

Oil Riches

The oil-rich countries of the Gulf Cooperation Council (GCC) – the United Arab Emirates (U.A.E.), Saudi Arabia, Kuwait, Bahrain, Qatar and Oman – may not be household names. But their global influence is shaping modern business and finance, in that these countries control 40% of the world’s oil reserves. They are major investors in myriad companies around the world, from Caribou Coffee and Fairmont Hotels to Ferrari. The world’s tallest building is planned for Dubai, as is the world’s first “seven-star” hotel.

GCC countries had a per capita income in 2006 of almost $20,000, or triple that of China and five times that of India. The GCC’s overall contribution to the global savings rate is larger than China’s, though its population numbers only 3% of China’s. Due mainly to oil revenues, GCC nations’ gross domestic product increased 80% from 2001 to 2006.

Several factors link the nations of the GCC: oil wealth, small populations, relatively stable governments, desert locations and parallel histories. Politically, these nations have rulers whose lineages can be traced back to the days of tribal chieftains. In modern times, their monarchs signed...

About the Author

Aamir A. Rehman is an expert in global corporate strategy. He has worked as an advisor in the development of strategies for multinational companies based in the United States, Europe, the U.A.E., Saudi Arabia and the broader Middle East. A graduate of the Harvard Business School, he formerly served as global head of strategy for a business unit of the leading bank HSBC, and worked for the Boston Consulting Group.

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