1) what are the challenges for the Middle East in building a luxury ecosystem ? 2)...

1) what are the challenges for the Middle East in building a luxury ecosystem ?

2) how can the Middle East become relevant?

3) how is the consolidation process is going to reshape the future?

Expert Solution

1.

There are several challenges for the Middle East in building a luxury eco system. The Middle countries are experiencing population explosion, congestions and rapid urbanisation. The economies mainly focusing on growth indicators and thereby creating huge burden on ecosystem.

Middle East countries became a global technological and job oriented centres paved less attention to protect the environment. Consumerism together with modern life style changed the patterns of development in the globalised era.

2.

Middle East economies are so relevant in the global scenario. The countries are abundant in oil resource and a key employment providind centres. The economies are hindered by natural constraints and political instabilities. The Middle countries are becoming more and more attractive in the new industrial world.

3.

The consolidation and environment protection policies are going on. The introduction of green building codes in UAE , Quatar and other countries. The national governments are giving more emphasis to eco friendly industry and thereby achieving sustainable development in the countries. Private and corporate enterprises are forced to adopt community and sustainable development programmes under Corporate Social Responsibility. Middle East countries are making huge progress in the field of environment laws, environmental educations etc. Sustainable development is becoming more and more popular in Middle East countries with the help of good leadership and efficient policy makers.

Rahul Sunny answered 2 years ago

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