By Philippe Dauba-Pantanacce, Standard Chartered
The news that Dubai has overtaken London Heathrow as the world’s busiest international airport is a timely reminder that not all Middle East economies are dependent on energy as a mainstay of growth and job creation.
With oil prices plunging 60 per cent, much attention is justifiably focused on the Middle East’s traditional dependence on hydrocarbons. But it is easy to overlook a few oases of economic activity that are not only uncorrelated with oil but also starting to achieve meaningful, critical economic mass.
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