| | MAY 20224 OEven though the chances look better only for a partial economic recovery this year, there is a favorable milieu and optimism prevailing amidst the business leaders in the Middle East. It is a great omen. With businesses slowly coming out of their panic mode, there is an increasing level of optimism among consumers as well, despite 62 percent of households in the whole region experiencing a contraction in their income. It's also relatively safe to say that the catalyst to the recovery will be new entrepreneurs and entrepreneurial vision. According to the World Bank's forecasts, the economies in the Middle East and North Africa (MENA) region are expected to grow by 5.2 percent this year, the fastest rate since 2016, on the back of oil-price windfalls benefitting the region's oil exporters. But the report also points to the heightened uncertainty surrounding this forecast due to the war in Ukraine and ongoing threats from COVID-19 variants.The experts paint a realistic picture, wherein it's increasingly clear that the complete recovery would take time in the region, just like the rest of the world. The private sector has enormous responsibilities on its shoulders. Smart operational strategies would reduce the leaders' pressure, not to mention the significant need to leverage IT in the process. The Arabian companies should keep their focus on the dynamic technology world and bring home the right technologies to propel the growth factor. This milieu inevitably engenders a vast horizon of opportunities in the region. Sujith VasudevanManaging Editoreditor@ceoinsightsindia.comAn Air of Optimism in the Arabian PeninsulaVol 03 · Issue 12 · May 2022 Publisher Alok Chaturvedi Managing Editor Sujith Vasudevan EditorialKeerthana Kantharaj Sthitaprajnya PanigrahiTanuja Akkannavar Deepawali DuttaAveek Pal Chaudhuri Ananth V Lakshmi G Group Art DirectorAshok KumarNoida Rohit Raghubanshi Garima Anandadvertise@ceoinsightsindia.comEditorial queries editor@ceoinsightsindia.comTo subscribeVisit www.ceoinsightsindia.com/subscribe/ or send emailto subscription@ceoinsightsindia.comCover price is Rs.150 per issue.Editor Alok ChaturvediPrinted and Published By Alok Chaturvedi on behalf of InfoConnect Web Technolo-gies India Pvt. Ltd. and Printed at Precision Fototype Services at Sri Sabari Shopping Complex, 24 Residency Road Bangalore-560025 and Published At No. 124, 2nd Floor, Surya Chambers, Old Airport Road, Murugeshpalya, Bangalore-560017.Copyright © 2022 InfoConnect Web Technologies India Pvt. Ltd., All rights reserved. Reproduction in whole or part of any text, photography or illustrations without written permission from the publisher is prohibited. The publisher assumes no responsibility for unsolicited manuscripts, photographs or illustrations. Views and opinions expressed in this publication are not necessarily those of the magazine and accordingly, no liability is assumed by the publisher. Design Suanya Chakraborty Souvik Acharya Rajesh R.BVP - Sales & Marketing Amrit SinghCirculation Manager Magendran PerumalEditorial
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