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- 🏢 Trump's Assassination Attempt Effect on Middle East Business Alliances
🏢 Trump's Assassination Attempt Effect on Middle East Business Alliances
Augustus Media FZ LLC
July 15, 2024
Marhaba folks! 🌞In today's edition, we cover Trump Towers' Middle East setbacks, Dubai's tourism prominence in 2024, and the growing use of BNPL services in Saudi Arabia and the UAE. Yalla, let’s go 🏃🏻♀️
🏢 Trump's Assassination Attempt Nearly Topples Middle East Business Alliances
Trump organization
What is it about:
Assassination attempt on Presidential Candidate Donald Trump at a rally in Pennsylvania.
Potential implications for Trump Organization's business alliances in the Middle East.
Why does it matter:
The assassination attempt poses risks to ongoing and future business ventures in the Middle East, particularly the Trump Tower project in Jeddah and the Trump International Oman resort.
Investors may become cautious due to perceived political and security risks associated with Trump Organization projects.
The incident could potentially delay projects, increase costs, and alter business plans.
What is next:
Potential delays and adjustments in the timeline for the Trump Tower project in Jeddah and Trump International Oman resort.
Increased scrutiny and evaluation of political and security risks by investors and stakeholders.
Continued efforts by the Trump Organization to maintain and expand its influence in the Middle East despite challenges.
The reaction of international partners and regional stakeholders, such as the UAE's condemnation of the assassination attempt, indicating regional stability and support for international relations.
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✈️ 🏨 Dubai Ranks as the World's Second Most Popular Destination in Early 2024
Dubai Tourists
What is it about:
Dubai has maintained its position as the second most popular destination worldwide for both flights and hotel stays in early 2024.
This data comes from Google's analysis of search volumes from international markets.
Dubai's popularity surpasses major cities like Paris, New York, and Amsterdam in terms of demand for flights and hotels.
Why does it matter:
The ranking underscores Dubai's strong appeal and attractiveness as a global tourist destination.
It highlights Dubai's significant position in the global travel and hospitality industry.
High demand indicates robust tourism potential, which is crucial for the emirate's economy and its reputation as a travel hub.
What is next:
Continued efforts to sustain and potentially enhance Dubai's appeal to international travelers.
Potential for further investments in tourism infrastructure and services to meet growing demand.
Monitoring trends and adapting marketing strategies to maintain or improve Dubai's ranking as a top global destination.
Potential impact on local businesses, hospitality sector growth, and overall economic benefits tied to tourism.
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💳️ 20% of consumers in Saudi Arabia and UAE used BNPL services last year
Buy Now Pay Later
What is it about:
Buy Now Pay Later (BNPL) services are experiencing rapid growth in Saudi Arabia and the UAE.
Approximately 20% of consumers in these countries used BNPL services in the past year.
Local players such as Tabby, Tamara, and Cashew are driving this growth.
Why does it matter:
BNPL platforms are becoming increasingly popular due to several factors:
Widespread access to banking services in the region.
A tech-savvy population that embraces digital payment solutions.
A notable gap in credit card penetration, creating opportunities for alternative payment methods like BNPL.
Near-zero interest rates and absence of credit score requirements make BNPL attractive to users.
Sharia-compliant options offered by some BNPL platforms cater to local consumer preferences.
The rise of BNPL is part of a broader trend towards digital transformation and digital payments in the Middle East.
What is next:
Continued growth and expansion of BNPL services in Saudi Arabia, UAE, and potentially other parts of the MENA region.
Increased competition among BNPL providers and potential consolidation in the market.
Further investment in technology and infrastructure to support the scalability and reliability of BNPL platforms.
Regulatory developments and consumer protection measures to ensure sustainable growth of BNPL services.
Potential for BNPL to evolve beyond consumer goods into other sectors such as healthcare, education, and travel, driven by fintech innovation in the region.