The Persian Gulf is a geographical area in the Middle East. It is located in the Western Asia between Iran (Persia) and the Arabian Peninsula. The basin countries include: Iran, Iraq, Kuwait, Saudi Arabia, Qatar, Bahrain, United Arab Emirates, Oman and the Musandam Governorate. This land is well-known because of the oilfields and natural gas fields but also for different good fishing grounds, extensive coral reefs, and abundant pearl oysters even though this activities are now affected by the industrialisation and the wars that occurred in the area for many years. Therefore the economy is manly based on the exploitation of petroleum and gas. In 2006, the Persian Gulf countries produced about 28% of the world's oil, while holding 55% (728 billion barrels) of the world's crude oil reserves. Regarding the natural gas this area owns more than 40% of the world’s total reserve of gas. This report will analyse the main economic powers in the Persian Gulf, as a consequence an analysis of the main three airports and airway companies will be presented in order to understand the current increase of traffic in the Persian Gulf area despite the world recession trends.
Analysis of the countries:
Before to get into further details about the eight countries (excluding from our study the Musandam Governorate because of its less relevant influence in the economy of the area) it would be interesting to have a glance at the GDP and GDP per capita adjusted for Purchasing Power Parity in order to have comparable figures as they were using the same currency. | GDP per capita| Total GDP (Billion)|
Iran| 13.072$| 1006.540$|
Iraq| 4.272$| 150.676$|
Kuwait| 58.080$| 163.671$|
Saudi Arabia| 31.275$| 906.806$|
Qatar| 102.943$| 182.004$|
United Arab Emirates| 48.158$| 258.825$|
Oman| 26.519$| 81.767$|
Bahrain| 27.556$| 31.101$|
The total GDP is the gross domestic product of a country and therefore...