Mit business plan competition arab world geographer

Dubai, an emirate located on the south-east coast of the Arabian Gulf, has a long history of trade and pearl diving in the Arabian Peninsula. As a commercial city with a strong focus on international air transport, Dubai has sought to be the world-preferred centre for air travel. In this context, the Arabian Gulf countries are particularly concerned about what measures must be taken by the airport and avia- tion industry in the post-oil era.

Mit business plan competition arab world geographer

Challenges to Entrepreneurship in the Arab World Photo by: Ahmad Hammoud under a CC Licence Most economists today agree that entrepreneurship is a necessary ingredient for stimulating economic growth and employment opportunities in all societies.

mit business plan competition arab world geographer

In the developing world, successful small businesses are the primary engines of job creation, income growth, and poverty reduction. Entrepreneurship is a major source of innovation, which is considered the main driving force behind economic development and progress.

Normally, the excessive formal bureaucratic procedures in any country add monetary and time costs to investors. Those exhausting procedures can also encourage investors, due to the high costs and expected low profits, to terminate their investments or invest elsewhere.

The long bureaucratic processes and administrative procedures also harm start-ups and small businesses. Inefficient judiciary that fails to protect property rights and ensures the facilitation of contracts make businessmen skeptical and hesitant, which may result in low investments and influx of capital.

For the yearthere was no single Arab state in the top twenty of the ease of doing business rank. In Egypt, for instance, which in was ranked out of nearly countries in ease of doing business, that difficulty in accessing credit and inefficiencies of bureaucracy and low human capital development are among the main factors that inhibit the Egyptian business environment.

Arab countries still impose complex administrative and judicial procedures and lack transparency in law enforcement, which prompt some investors to resort to extrajudicial to solve their problems more speedily, even if the cost involved are higher. Middle Eastern regulatory reforms on business entry and exit, contract enforcement, access to credit and labor have lagged behind of those of the rest of the world.

Bureaucratic procedures in MENA and the costs associated with it that constrain private businesses are still very high relative to other developing regions. Corruption is also one of the key impediments to economic and business development in the MENA region.

There is substantial evidence that corruption in institutions is a significant element in halting economic progress. Many leading academics believe that the prevalence of corruption decreases growth through its negative impact on human capital and private investment as well contributing to political instability.

Widespread corruption, for instance, hinders a level playing field for businesses and obstructs transparency and clarity in business environments. Similarly, cronyism, or the granting of special privileges based on relationships, distorts markets and competition.

Favoritism and handing key positions in the government based on kinship and not on competency negatively harms the effectiveness of the government and its ability to achieve developmental goals.

As mentioned earlier, doing business in the Arab world is far from smooth. Arab businessmen feature suffocating web of complex regulations, licensing and other institutional distortions, which are often unclear and inconsistent with the rest of the world.

This discourages investors to enter the market, which consequently dampens competitions and results in the amplification of inefficiency of the economy and the market. Moreover, the cumbersome bureaucratic procedures of MENA give rise to corrupt behavior such as bribery and favoritism based on kinship or close personal ties.

A more likely explanation for the continued bureaucratic hurdles to doing business is the interest of elites in maintaining their power over capital allocation. Political authorities in contemporary MENA do not support private agents to establish self-governing enterprises and corporations or in other words autonomous juridical entities.

This is because they fear that these may be able to buildup vast amounts of capital and increase their economic influence that accordingly leads to an augmentation in their political influence.

This may pose an enormous jeopardy to the power of the autocratic rulers of the Arab World. Even to this day, most Arab countries have severe restrictions on the formation of limited liability companies, particularly restrictions on foreign investment.

Entrepreneurs in Egypt: Dr. Hossam Mahgoub - Peace Child International

Autonomous business corporations can aid efforts to establishing a democratic regime because citizens can accumulate wealth and achieve economic progress away from the central authority, crony capitalists and connected families and without the reliance on their funds.

This can potentially wane the ruling elite and allow for more power-sharing within the society. Hence, until today, people in charge in the MENA region are reluctant to spark off any major changes to the existing arrangements. If the existing institutional arrangements in the Arab world remain unchanged in the foreseeable future, economic progress that is inclusive for the Arab youth will face an enormous challenge.Harvard Business School hosts one of the most influential business plan contests in the country.

Previous finalists have gone on to build great businesses, including some you’ve probably heard.

mit business plan competition arab world geographer

MIT's Arab Student Organization (ASO) is a student-led group working to build cultural, academic, and industrial bridges between MIT and the Arab world. MIT AAA was one of the sponsors to their SCITECH conference where two members of its board were speakers. Nov 14,  · Hospitality Industry Essays (Examples) Explaining the Arab Middle East Tourism Paradox.

The Arab World Geographer, 9 (3), pp. -- Masetti, O., Friedman, J. And Froster, M. Arab Spring (): Two Years of Arab Spring. and this has increased the intensity of competition in the business (Davidson, ). The competition is.

Tourism has been and continues to be an important source of income for many countries in the world. This study explores the concept of shopping in Dubai tourism and identifies the perceived important characteristics of Dubai as a shopping destination, as well as tracing the factors or the competitive advantages of Dubai as a shopping destination .

The MIT-Arab World Program offers opportunities for MIT students and faculty to engage and collaborate with peers in the region. Internships. The MIT-Arab World Program matches MIT students with internship and research opportunities at leading companies, research labs and universities in Jordan and Morocco.

Challenges to Entrepreneurship in the Arab World Photo by: Ahmad Hammoud under a CC Licence Most economists today agree that entrepreneurship is a necessary ingredient for stimulating economic growth and employment opportunities in all societies.

How to Succeed in Business with a Degree in Geography – AAG Newsletter