The U.S.-Qatar Business Council, the U.S.-Saudi Arabian Business Council, and the U.S.-U.A.E. Business Council hosted a reception featuring a presentation by Dr. James Zogby, Senior Advisor of Zogby International and President of the Arab American Institute (AAI), and Mr. John Turner, Partner and Head of Middle East Public Sector Practice at Oliver Wyman on Monday, June 6th in Washington, D.C. Representatives from the U.S. and GCC private and public sectors attended the event to hear the results of the recently published study.

Mr. Danny Sebright, President of the U.S.-U.A.E. Business Council, Ambassador Patrick Theros, President and Executive Director of the U.S.-Qatar Business Council, and Alfred C. DeCrane, Jr., Chairman Emeritus of the U.S.-Saudi Arabian Business Council, welcomed guests to the reception and underscored the significant commercial opportunities for American partnership and the thriving commercial environment in the GCC region.

After Mr. Turner provided guests with background context about the study, Dr. Zogby presented the results from the recent Zogby / Oliver Wyman senior executive survey entitled, The C-Suite View from the Gulf:  Business Confidence in the U.A.E., Saudi Arabia, and Qatar in the Spring of 2011.

Over 160 top executives in the United Arab Emirates (U.A.E.), the Kingdom of Saudi Arabia (KSA), and Qatar participated in the survey, which covered a number of key economic questions around business confidence and structural and reform issues, including:

• What is the level of business confidence in the region? What are the potential threats to confidence levels?
• Has the “Arab Spring” had any impact on confidence?
• Where do executives see the greatest economic opportunities?
• What are the hurdles to continued growth?
• What are the impediments and drivers to reform?
• What are the concerns associated with the “youth bulge” and who is best positioned to help?

Dr. Zogby’s overview of the survey provided guests with a unique and rich understanding of the attitudes of Chief Executive Officers, Chief Financial Officers, and other C-suite executives in the region on the threats to and opportunities for the region’s businesses.

The survey, which draws from the results of four polls conducted from October 2009 to May 2011, provides insights into senior-level business executives’ perspectives on the impact of the financial crisis and the recent turmoil in the region on corporate and public sector economic and institutional reform priorities. The study’s key conclusions include:

• Business confidence remains high in the near and the long term, however the rate of improvement has declined moderately in the U.A.E. and KSA
• There is a mixed perception in the region about the near- and long-term implications of the “Arab Spring”
• “Macroeconomic Shock” remains the primary perceived threat to business in the region, despite an increase in belief that political and internal tensions will pose a growing threat
• Senior executives view restrictive labor regulations and a lack of access to financing as the biggest hurdles for doing business in the GCC
• The high unemployment amongst the youth in the GCC is considered the greatest challenge facing the U.A.E., Qatar, and KSA

Following the presentation, guests were given the opportunity to speak directly with Dr. Zogby and Mr. Turner about their perceptions of the survey results and network with senior level executives, trade association leaders, and members of the U.S., U.A.E., Saudi and Qatari business community in attendance at the event.

For more information about and to download highlights from the survey, please visit http://www.oliverwyman.com/ow/ow_gcc_survey_4.htm.