In the past 2 years, the security market in the Middle East had been troubled by a string of external and internal turmoil: global economic recession, US sanction on Iran, deportation of foreign workers in Saudi Arabia and the unresting civil war in Syria. Daunting though it may seem at times, the hoslistic prospect in the region still remains promising in 2014.
In the past 2 years, the security market in the Middle East had been troubled by a string of external and internal turmoil: global economic recession, US sanction on Iran, deportation of foreign workers in Saudi Arabia and the unresting civil war in Syria. Daunting though it may seem at times, the hoslistic prospect in the region still remains promising in 2014.
The Gulf Cooperation Council (GCC) countries, including Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates, still provide a robust growth to the market in the near future – thanks to their large oil deposits, prosperous tourism, the upcoming 2020 World Expo in Dubai as well as the 2022 FIFA World Cup in Qatar.
Since Iran and America have reached an agreement to suspend its high-level enrichment of uranium in exchange for sanction relief from the global community, Iran's economic recovery is expected to go into full swing. Other emerging markets include Iraq, Lebanon, Palestine and Egypt will be expected to bring growth to this region, too.
The GCC countries all have large government sectors, ranging from oil, gas, airports, seaports, universities, transportation, government facilities and mosques. However, most of the government projects still prefer American and European brands; therefore, Asian brands are comparatively more active in private sectors.