Investing in the Middle East: The Best Plays to Make
Periodic eruptions of violence and instability make investing in the Middle East fairly tricky. But that doesn't mean you ought to avoid the region entirely. Indeed, investing in the Middle East can be extremely profitable, as the region currently is one of the world's bright spots for economic growth. The International Monetary Fund 's (IMF) said in its World Economic Outlook that the region's economy would expand by 5.1% clip in 2011. That's well above the 1.5% pace projected for Europe and Japan and the 2.3% rate forecast for the United States. And contrary to the perception of many Westerners, that growth projection isn't based primarily on the price outlook for oil, which has trended higher for most of the past year. Rather, it's keyed to everything from construction and new-business development to banking, tourism and even Internet gaming. So let's take an in-depth look at each sector, as well as some specific companies to invest in.