The dos and don’ts of Doing Business in the Middle East: GCC / United Arab Emirates

• Main Author: Neto, Fátima Maria Neves Barbeiro de Abreu
• Format: Dissertation
• Language: English
• Published: ProQuest Dissertations & Theses 01-01-2021
• Subjects: Economic growth; Economics; Expatriates; Exports; Islamic law; Islamic Studies; Law; Middle Eastern Studies; Muslims
• ISBN: 9798352665831

The Middle East, namely the Gulf Cooperation Council countries (GCC), has been a key fast-moving economic region for the past decades.The impact of the Covid pandemic is still being felt by many businesses all over the world, and the GCC is no exception. More particularly, the United Arab Emirates (UAE) plans to double its economy by the end of 2031, emphasizing the retail and tourism business and other major non-oil sectors. These economic recovery signs indicate that the UAE will continue to offer opportunities and be a key market for international business expansion in the retail area in a post-pandemic era.Most literature about the Middle Eastern countries includes North African countries and sometimes Turkey that, although, in most cases, share the same language and Muslim teachings, have suffered different cultural influences. Literature is scant on the GCC culture, even less in GCC retail. Our research fills this gap through in-depth semi-structured interviews of European international business managers and European expat workers in the UAE.Although most Arab businesses continue to be held by local Arabs or Arab groups, there is considerable assimilation of international staff (expats) that reflects population diversity. This cultural diversity naturally influences business dealings and negotiations; however, the business subculture continues to be heavily influenced by its Arab owners.In the UAE, there is a younger, bolder generation of Emiratis that have been influenced by western education but continue to highly value their ancestral values of family, religion, respect, trust, cordiality, and relationships.This fast-moving economy is not an “El Dorado,” To do business, you have to have the right partner, be financially sound, respect, and be respected personally and within the business relationship because the GCC business is personal. Understanding these cultural aspects can facilitate or hinder a business venture.