Many people’s preconceived notions of the Middle East include deserts, camels, flowing robes, and souks with exotic scents and opulent fabrics—but not economic powerhouses with enormous untapped potential. Our distorted picture of what is available in those marketplaces and media-driven perceptions frequently cause us to ignore genuine economic opportunities. STOP and reconsider.
Any intelligent investor must take economic potential very seriously if we wish to penetrate such areas. As the Middle East’s e-learning market sees sales rise to $560.7 million by 2016, international and regional education providers are increasing their stakes in the region.
Middle Eastern and North African (MENA) nations are sometimes lumped together based solely on geographic closeness, and slender cultural ties. And false assumptions about shared ethnic and religious beliefs. However, the MENA markets are not uniform, and treating all the nations equally could be a risky exaggeration and oversimplification.
Contrary to widespread beliefs, many Middle Eastern nations are more open to innovation than many of their Western counterparts regarding economic potential. The United Arab Emirates is placed 14th globally, behind Israel (18th) and Kuwait (30th), according to a Global Technological Innovation Index recently created by Professor of Business and Technology Soumitra Dutta.
There are several ways to see how quickly things are changing in the Middle East. First, there is a growing understanding that online education and homeschooling in UAE should be taken seriously, as shown by the numerous conferences on this topic that have been organized in the area. Second, universities created expressly for online education have been developed over the past ten years. The benefits of online learning are universal, and the Middle East is no exception. However, students may view flexibility in terms of study hours, remote access, and the global student community as crucially important. The Middle East and Arab countries’ widespread educational disparities and educational poverty are widely known. “Several attempts have been implemented by the Arab states… to enhance literacy by suggestions” in response to these disparities.
To counteract educational inequity and spur economic growth, e-learning has grown significantly. For higher education institutions to expand and remain profitable in the coming ten years. It is thought that they cannot afford to ignore open and distance learning formats. Many online schools are working and taking part in the economic development of the country. The iCademy Middle East is a full-time, online primary school and secondary school in Dubai that provides students in the Middle East with the complete online American curriculum. We make it possible for families to get top-notch lessons. It cannot be easy to decide whether to homeschool in the Middle East or enroll in an online school, but as the best American School in Dubai, our team of knowledgeable teachers is here to support you.
Some Middle Eastern and Arab nations, particularly Qatar, Bahrain, the United Arab Emirates, and the Kingdom of Saudi Arabia, have prioritized economic diversification. Innovation is a crucial driver, especially in the education industry, among other industries.
As a result, “some countries have made significant investments in ICT to modernize their educational institutions, economies, and government systems.”
Gulf nations are expanding their investment in education despite the difficulties of the current global economic environment. For instance, Saudi Arabia, which has a young and expanding population, has announced that education expenditures will increase this year by 13% to US$36.7 billion (Dh134.80bn). Accounting for more than a quarter of the whole budget expenditure of the country. These projects result from leveraging modern learning tools creatively rather than the Arab world trying to catch up with Western techniques. Utilizing the internet’s potential as a communications tool to connect children with instructors and teachers with parents is essential to the success of these projects.
The government of Dubai established the information technology park known as Dubai Internet City (DIC) as a free economic zone. And a key hub for businesses aiming to tap into local emerging markets. Companies can take advantage of ownership, taxes, and customs-related benefits under the economic regulations of the DIC that are legally guaranteed for 50 years. Like other designated economic zones in the United Arab Emirates, one operating model allows for 100% foreign ownership.
The Middle East is a strong stakeholder group in the technology and e-learning sectors. It can offer opportunities for e-learning developers and technology companies in various ways. Including as funders of research, potential customers for highly innovative products, and investors of new technologies and learning.
What does this ultimately signify for the e-learning industry? The Middle East is making significant investments in e-learning and innovation. They are dedicated to employing new and inventive approaches to accomplish the desired goals and objectives of each Arab country to grow their economies and populations.
However, any investor must understand the nuances and complexities that will help them be more successful in gaining access to capital. And business opportunities and creating projects with the lasting social and environmental impact that will be successful in each of the corresponding countries. E-learning may profit from this strong dedication to innovation as a benefactor and beneficiary.