Good Growth Prospects in MENA
This article focuses on the cable markets of the Middle East and North Africa (MENA). The region is of particular interest at present since investment activity is generally strong. From a global perspective, China stands out as a large market with strong and consistent growth. The markets of the MENA region are much smaller than the China market in terms of absolute size, but the growth prospects for most countries within MENA are good at present.
Benefit from Oil . . .
The region includes several of the world's largest producers of oil and natural gas, which have benefited from the prevailing high oil price, so that substantial funds are available for investment in infrastructure. As a result, in some countries of the region there has been a boom in construction activity that has fed through into strong cable demand.
. . . and Export Growth
Other countries in the region, even though they do not have such abundant natural resources, have had reasonable economic growth since they are beginning to exploit their potential as low cost producers by exporting manufactured goods to Europe.