Bahrain losing foreign investors
Bahrain is losing its battle against Dubai as the region’s most inviting financial center due to the political instability in the region. While Dubai has had its share of economic woes that it is now recovering from, martial law has been imposed in the Bahrain and has caused many foreign companies to flee for greener pastures – namely, Dubai. Hotel occupancy is up in the Emirate, along with bank holdings, indicating a reversal of the gloomy fortune facing Dubai after it came back from the brink of debt default in 2009.
Overall confidence in the Dubai financial market is increasing, and with so much of the region embroiled in political turmoil, Dubai appears to be a “haven of stability,” says Farouk Soussa, chief economist for the Middle East at Citi. The IMF has recently raised the economic outlook for the country, and the lack of unrest surely helps draw in foreign investors who would otherwise look elsewhere in the gulf.
Bahrain is losing its battle against Dubai as the region’s most inviting financial center due to the political instability in the region. While Dubai has had its share of economic woes that it is now recovering from, martial law has been imposed in the Bahrain and has caused many foreign companies to flee for greener pastures – namely, Dubai. Hotel occupancy is up in the Emirate, along with bank holdings, indicating a reversal of the gloomy fortune facing Dubai after it came back from the brink of debt default in 2009. Overall confidence in the Dubai financial market is increasing,...
Bahrain is losing its battle against Dubai as the region’s most inviting financial center due to the political instability in the region. While Dubai has had its share of economic woes that it is now recovering from, martial law has been imposed in the Bahrain and has caused many foreign companies to flee for greener pastures – namely, Dubai. Hotel occupancy is up in the Emirate, along with bank holdings, indicating a reversal of the gloomy fortune facing Dubai after it came back from the brink of debt default in 2009.
Overall confidence in the Dubai financial market is increasing, and with so much of the region embroiled in political turmoil, Dubai appears to be a “haven of stability,” says Farouk Soussa, chief economist for the Middle East at Citi. The IMF has recently raised the economic outlook for the country, and the lack of unrest surely helps draw in foreign investors who would otherwise look elsewhere in the gulf.
