Page 38 - Global Focus, Issue 2, 2018

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One of the drivers making the world “spiky” oversimplification or the illusion of a one-size-
rather than “flat” is the rise of the MENA (Middle fits-all approach to doing business. 380m
East and North Africa) region. While Brazil, Russia, The region includes impressively dynamic
India and China (BRIC) have received substantial economies, such as Qatar, which has evolved
attention, as have subsequent acronyms, such as into the richest country on the planet in GDP The region’s 380 million
inhabitants are likely to
the MINT (Mexico, Indonesia, Nigeria, and Turkey), per capita. Hence, very poor and very rich areas increase, with a GDP rapidly
the Next Eleven (N-11) or CIVETS (Colombia, meet in the MENA region. approaching $4 trillion
Indonesia, Vietnam, Egypt, Turkey, and South The region’s 380 million inhabitants are likely to
Africa), a case can also be made for the MENA increase, with a GDP rapidly approaching $4 trillion.
region to become better known. The only deplorable exception should be the various
conflict-prone areas. Nevertheless, the MENA
Those venturing beyond traditional region has roughly 60% of the world’s known oil and 60%
eurocentricity or the west northern hemisphere in
general as a source of knowledge and wisdom can 45% of its gas reserves. MENA countries are rather
learn about new opportunities and challenges. heterogeneous – with three groups emerging, each The MENA region has
roughly 60% of the world’s
requiring different recipes for success: known oil and 45% of its
The MENA – a region on the rise gas reserves
The MENA countries are also, although less Group 1
commonly, referred to as WANA (West Asia and Group 1 consist of resource-rich, labour-abundant
North Africa), or NAWA (North Africa and West countries, such as Algeria, Iraq, Syria, and Yemen,
Asia). This region usually includes the following which produce and export successfully. These
countries and areas: Algeria, Bahrain, Egypt, countries have a largely native population.
Iran, Iraq, Israel, Jordan, Kuwait, Lebanon, Libya,
Morocco, Oman, Palestine, Qatar, Saudi Arabia, Group 2
Sudan, Syria, Tunisia, the United Arab Emirates Group 2 has resource-rich, labour-importing
and Yemen. countries that produce and export energy-
The Middle East is also often referred to as related resources but rely heavily on foreign
the “cradle of civilisation,” since three of the or expatriate residents. This group comprises
world’s major religions originated there. The the Gulf Co-operation Council (GCC) including
region is highly diverse. This diversity needs Bahrain, Kuwait, Oman, Qatar, Saudi Arabia
to be acknowledged in order to avoid a false and the United Arab Emirates.
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