Construction

TAV’s Akcayoglu says world economic focus shifting towards the East

Middle East director of TAV Construction says GCC, India markets will attract global interest

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Yusuf Akcayoglu, Middle East director for TAV Construction said global economic focus is shifting towards Eastern world powers, such as India, China and the GCC as Western countries struggle to cope with economic crises.

“Countries like the UAE are becoming hubs that attract large numbers of tourists and investment,” Akcayoglu told Big Project ME on the sidelines of The Global Airport Leaders’ Forum 2014 in Dubai. “The markets in the GCC and Asia are very promising and are definitely drawing interest from around the world.”

Akcayoglu’s statements echo comments made earlier this month by Dr Nasser Saidi, DIFC’s former chief economist, who claimed economic focus is globally gravitating towards eastern countries, which have high rates of young population and workforce.

“Location is a key advantage for the UAE between Africa and Asia,” Dr Saidi explained. “Dubai is within eight hours’ flying time for two-thirds of the world’s population.

“The global economic shift viewed since the last three odd decades means more work will now move towards Asia,” Dr Saidi continued. “The time for emerging economies is now, and those which invest intelligently in their infrastructure capabilities will taste success.”

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