The Middle East and North Africa is one of the most important regions of the world. The MENA region has a strong culture, glorious history, important and abundant energy reserves, today has become one of the world’s commercial hubs.
There are countries like the United Arabic Emirates, Turkey, Saudi Arabia, Iran, Qatar, and Egypt… that indicates the economic and political power of MENA region.
Global Outlook. Compared with the previous three years, 2014 seems hopeful and 2015 could be a turning point for the countries in the Middle East and North Africa (MENA) region. Many countries in MENA will start to benefit from stronger external demand in the high-income economies, as the global economy is set for a rebound in 2014. The recovery in high income economies is expected to boost global growth to 3.2 percent in 2014, an increase by 0.8 percentage points compared to 2013. Global output is expected to improve further in 2015 with real GDP accelerating to 3.4 percent in 2015.
The Middle East and North Africa regional forecast
|GDP at market prices, geographic region|
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The Middle East’s carpet and floor products industry is poised to leverage growth expected from gathering momentum and planned developments in the real estate sector. Carpet industry in the region enjoyed a positive outlook. Aggressive construction spending in Mena region would help boost demand for carpets and floor covering products and services in the country. The non-residential construction expenditure would particularly have a strong impact on the region’s carpets and floor coverings sector. A significant portion of the construction expenditure is expected to be channeled to hotel and office tower development which is a key segment for the region’s carpets and floor covering industry.
Moreover, the region is one of the most important centers of production and consumption of handmade and machine-made Carpets and also other floor covering.
Hotel industry in the Middle East is remarkable and very important for carpet market. The UAE accounts for nearly 75% of the new supply, followed by Egypt, Qatar, Saudi Arabia and Oman. Approximately 25,000 rooms are set to enter the Dubai market in 2008, 20,000 in 2009, 25,000 in 2010 and 20,000 in 2011.
Generally handmade and machine-made carpet production is very powerful in Mena region especially in countries like Iran, Turkey, Saudi Arabia and Egypt.
There are numerous carpets and flooring exhibition like Domotex Middle East in the region that indicates the importance of this market.
MENA Carpet News is trying to introduce region potential traders, merchants and manufacturers to global market.
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