The World Economic Forum has recently ranked Kuwait as 62nd in its latest annual Global Information Technology Report - up 13 places. Last year, the WEF singled out Kuwait as being the only high-income economy that did not feature in the top half of the global rankings but this has now changed.
In 2012, Kuwait has made several improvements in its IT infrastructure and continues to be dedicated to digital growth. The government's dedication to IT and electronic advancement is encapsulated by its large spend on IT service sales - growing 9% year-on-year. Both software and hardware sales are expected to continuing increasing following the government's push for all sectors and industries to increase their IT technologies.
Going forward, it is believed that an increased IT infrastructure will open up more opportunities for investment and international export/import.
To read the full report please visit the Oxford Business Group Economic Update. This news story was also featured in the Arabian Gazette.
Monday, 3 September 2012
Wednesday, 29 August 2012
Dubai - Aviation Industry Looks to Growth
In spite of recent turmoil, which saw several locations report falls in profits, Dubai is looking to ensure its aviation industry continues to grow during the tough economic climate. Dubai is expanding its airport capacity and aims to attract business and travelers from the growing markets in South East Asia.
Tim Clark, president of Emirates Airline, Dubai's flag carrier, told Oxford Business Group that there were challenges in the aviation industry globally: "The entire airline industry faces difficult challenges ahead due to rising fuel costs and distressed economies. However, these challenges were not unforeseen, and some airlines were able to act swiftly and implement measures to lessen the impact on their bottom line".
Thierry Antinori, vice-president of sales at Emirates Airline told Bloomberg they were in a good place to proceed with their current business strategy.
“If necessary, we will have contingency plans, but now is not the time for that. Some other airlines are decreasing their number of flights, downsizing or downgrading their products. We will not do that.”
Additionally, Emirates Airlines plans to add 31 new planes and 200 new pilots. Emirates Airlines aims to grow not just nationally but also internationally. The first half of 2012 saw a 13.7% rise year-on-year in passengers for Dubai International Airport showing that the aviation industry is growing strongly.
Furthermore, The Boeing 2012 Current Market Outlook predicts that global air travel will increase by 5% per year for the next two decades. China, India and other South East Asian markets are a key driver behind the growth. Dubai's key location between Europe, Africa and Asia looks to be integral to Emirates Airline's growth strategy.
Tim Clark, president of Emirates Airline, Dubai's flag carrier, told Oxford Business Group that there were challenges in the aviation industry globally: "The entire airline industry faces difficult challenges ahead due to rising fuel costs and distressed economies. However, these challenges were not unforeseen, and some airlines were able to act swiftly and implement measures to lessen the impact on their bottom line".
Thierry Antinori, vice-president of sales at Emirates Airline told Bloomberg they were in a good place to proceed with their current business strategy.
“If necessary, we will have contingency plans, but now is not the time for that. Some other airlines are decreasing their number of flights, downsizing or downgrading their products. We will not do that.”
Additionally, Emirates Airlines plans to add 31 new planes and 200 new pilots. Emirates Airlines aims to grow not just nationally but also internationally. The first half of 2012 saw a 13.7% rise year-on-year in passengers for Dubai International Airport showing that the aviation industry is growing strongly.
Furthermore, The Boeing 2012 Current Market Outlook predicts that global air travel will increase by 5% per year for the next two decades. China, India and other South East Asian markets are a key driver behind the growth. Dubai's key location between Europe, Africa and Asia looks to be integral to Emirates Airline's growth strategy.
Keep up to date with Oxford Business Group in the Middle East
AME Info has all the latest news on Oxford Business Group in the Middle East region. You can read their Oxford Business Group company page here.
Thursday, 16 August 2012
Oxford Business Group and Emirates NBD Renew Partnership
Oxford Business Group will soon be launching The Report: Dubai 2013. This report looks into Dubai's efforts and strategies at driving growth in key areas of the economy. Industries covered include trade, import and export, retail, financial services, and tourism.
The Report: Dubai 2013
Oxford Business Group have teamed up with Emirates NBD for the next report. The Report: Dubai 2013 will mark the fourth year of Oxford Business Group's partnership with Emirates NBD and they will work closely together on the Banking Chapter for the Report.
As the largest bank in the UAE, Emirates NBD will provide key insight into the economy of Dubai. Emirates NBD will also have key insight into how the financial services industry has grown and where it looks to grow in 2013.
Oxford Business Group's regional editor, Oliver Cornock, said he expected The Report: Dubai 2013 to look into Dubai's reaction and growth following the global economic crisis in recent years. He said: "Dubai has a number of strengths, including a politically stable climate, rising real estate affordability and strong tourism and service industries, which are serving as important building blocks in its efforts to attract new investors". You can find out more information on the Oxford Business Group partnership here.
Friday, 10 August 2012
Dubai property has turned corner - Oxford Business Group
Despite the recession, Dubai's property market is showing progress.
According to the recent study by Oxford business group, is claiming that Dubai’s property market has turned a corner, with the residential sector having “posted solid growth over the past few months." Dubai remains in the top performing 15 cities worldwide and number one in the Middle East throughout.
Dubai has also been rated by Interpol as one of the safest countries to live, which many may find hard to believe from what they have heard about the Middle East.
According to the recent study by Oxford business group, is claiming that Dubai’s property market has turned a corner, with the residential sector having “posted solid growth over the past few months." Dubai remains in the top performing 15 cities worldwide and number one in the Middle East throughout.
Dubai has also been rated by Interpol as one of the safest countries to live, which many may find hard to believe from what they have heard about the Middle East.
To read the full article please click here
Thursday, 9 August 2012
Oxford Business Group appoints new team for Kuwait project
Oxford Business Group, the global publishing, research and consultancy firm, has appointed a new team in Kuwait to oversee its forthcoming report on the country's economy.
Caroline Nguyen has been appointed the Country Directory and Mwongola Leoni-Mativo has been appointed the Editorial Manager as work on The Report: Kuwait 2013 starts.
You can read the full article here.
Caroline Nguyen has been appointed the Country Directory and Mwongola Leoni-Mativo has been appointed the Editorial Manager as work on The Report: Kuwait 2013 starts.
You can read the full article here.
To learn the most recent news on Oxford Business Group in the EMEA region, please visit http://www.oxfordbusinessgroup.com.
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