According to IBM, “The Digital Economy is the new App Economy… We’re seeing a significant shift in how and where consumers shop, with mobile devices emerging as the preferred method for browsing and buying.” Thanks to Apple’s ITunes, Google’s Play Store, and other app markets out there, businesses concentrating in technology and innovation have higher chances of thriving. However, if you want to lock your chances of success, start your business where the overall economic environment is favourable -the Middle East!
Shocking as it may seem, the Middle East’s economy isn’t just made up of oil. Yes, it’s also a hub of innovation. Topping all countries when it comes to Research and Development (R&D), Tel Aviv, Israel has transformed into the new Silicon Valley (or Silicon Wadi -Israeli version) during the Y2Ks. With this, Israel earned the title the “start-up nation!” Knowing this; do you still have qualms about investing in Israel?
For those who are pessimistic about the region -perhaps due to the brilliant crash of the oil’s price -worry no more! Have you ever wondered why despite the crisis, most economies in the region never succumbed to it? That’s because of their financial capability accumulated from decades of revenue from the commodity and their extreme drive to pursuit other industries particularly technology and innovation. Israel aside, the United Arab Emirates and Iran have also pursued the hi-tech industry including infrastructure, health and education.
Focusing on UAE, this nation had succeeded in infrastructure and capable workforce thanks to their wise decision
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