Joe Chidiac

Dubai

CEO and Publisher at Economy Middle East

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economymiddleeast.com

Articles

Hospitality and tourism in the Middle East

1 week ago | economymiddleeast.com | Joe Chidiac

Hospitality and tourism have always been a key pillar of economic diversification efforts by countries in the Middle East. What was once considered a supplementary industry is now reshaping economies and redefining the very concept of Middle Eastern hospitality. The numbers tell quite a compelling story. The Middle East recorded the strongest relative increase in international arrivals in 2023, with visitor numbers reaching 83 percent of pre-pandemic levels, outpacing global recovery rates.
Boldly facing the future with an ‘innovation mindset’

1 month ago | economymiddleeast.com | Joe Chidiac

Across the globe, developments in artificial intelligence (AI) abound. This technology is redefining how entities across industries operate and how governments worldwide approach digital transformation. In the Middle East, AI has been at the forefront of national agendas, with far-reaching initiatives involving cybersecurity. The region’s AI adoption is yielding tangible economic benefits.
Enhancing healthcare, driving progress

2 months ago | economymiddleeast.com | Joe Chidiac

Healthcare is one industry that has so much potential to shape a nation’s growth. And it’s not just because of its role in safeguarding lives; but its potential in serving as a catalyst for scientific progress, job creation, and even tourism. While some areas in the Middle East face challenges, there are countries whose healthcare systems have emerged as role models in terms of success and innovation. Case in point: the United Arab Emirates.
A pivotal year for progress

Jan 14, 2025 | economymiddleeast.com | Joe Chidiac |Elias AL Helou

The year 2025 is here, and it will be a pivotal one given that it marks the end of the first quarter of the 21st century. This fact implores every stakeholder to reflect on the region’s — and the world’s — journey so far. Globally, the Organization for Economic Co-operation and Development (OECD) projects a growth of 3.3 percent for 2025. This aligns with the International Monetary Fund’s (IMF) 3.2 percent forecast.
Building on ambition and innovation

Nov 11, 2024 | economymiddleeast.com | Joe Chidiac

The year is drawing to a close, and the timing couldn’t be more ideal to celebrate one of the Middle East region’s foremost catalysts of growth – its real estate market. The sector plays an essential part in the region’s ambitious yet imperative economic diversification journey. A CBRE report notes that real estate projects in Gulf Cooperation Council (GCC) countries have an estimated value of $1.36 trillion. These cover both planned and under-construction projects.
Middle East is betting big on tech

Oct 9, 2024 | economymiddleeast.com | Joe Chidiac

In the past years, the world has seen widespread layoffs in the tech space. Venture capital funding is declining, and company valuations are failing. According to fDi Intelligence, tech foreign direct investment (FDI) plummeted globally between 2022 and 2023. Around a 40 percent year-on-year decline to be exact. But, as they say, there will always be outliers.
Saudi Arabia: On track to a diversified future

Sep 15, 2024 | economymiddleeast.com | Joe Chidiac

Recognizing the need to diversify the economy is already a giant leap for any nation seeking to achieve more sustainable growth. However, putting this vision into action and making it a reality is another story. In Saudi Arabia — home to nearly 34 million people and considered the biggest economy in the Arab world — a profound transformation is taking place. And at the center of it all is its comprehensive strategy plan, the Saudi Vision 2030.
The tourism marvel that is the Middle East

Jul 4, 2024 | economymiddleeast.com | Joe Chidiac

The Middle East has a long history of ancient cultures and traditions, including, massive empires and kingdoms. In modern times, the region has flourished into a destination where its time-honored culture co-exists with innovations that give a glimpse into a tech-driven yet sustainability-anchored future. Several countries here have embarked on a path to elevate their global presence by blending cultural heritage with cutting-edge advancements.
MENA’s economic landscape: Positive outlook amid persistent challenges

Jun 6, 2024 | economymiddleeast.com | Joe Chidiac

It’s almost halfway through the year, and various economic forecasts released in the past months point to a shared sentiment: the Middle East and North Africa (MENA) region is facing a modest expansion amid persistent challenges. In April, the International Monetary Fund (IMF) shared its regional forecast, indicating that MENA’s gross domestic product (GDP) could grow by 2.7 percent this year. This is a slight bump from last year’s 1.9 percent.
The Middle East: Rise of a tourism powerhouse

May 5, 2024 | economymiddleeast.com | Joe Chidiac

Post-pandemic, the tourism and hospitality sector has not only recovered strongly but also emerged as a remarkable pillar of economic development. In the Middle East — a region that has been pivoting away from traditional, oil-based markets toward more diversified economies — the sector is playing an essential role. In 2023, Middle Eastern destinations, including Dubai, Abu Dhabi, and emerging hotspots like Riyadh and Ras Al Khaimah, saw significant tourist inflows.