Economy
All of the Arab states of the Persian Gulf have significant revenues from oil and gas and, with the exception of Saudi Arabia, have small local populations. This has raised their per capita incomes above those of neighboring countries. To meet the labor shortages, they host large numbers of temporary non-citizen economic migrants from South Asia and Southeast Asia. In the past there have also been a significant number of immigrants from Jordan, Syria, Lebanon, Yemen, and Egypt.
In addition, pearl diving and the pearl industry had been the main economic activity of many of these countries, particularly Bahrain, United Arab Emirates, Qatar, and Kuwait. The pearling industry collapsed in the 1930s after the development of cultured pearl methods by Japanese scientists.
Read more about this topic: Arab States Of The Persian Gulf
Famous quotes containing the word economy:
“Quidquid luce fuit tenebris agit: but also the other way around. What we experience in dreams, so long as we experience it frequently, is in the end just as much a part of the total economy of our soul as anything we “really” experience: because of it we are richer or poorer, are sensitive to one need more or less, and are eventually guided a little by our dream-habits in broad daylight and even in the most cheerful moments occupying our waking spirit.”
—Friedrich Nietzsche (1844–1900)
“Even the poor student studies and is taught only political economy, while that economy of living which is synonymous with philosophy is not even sincerely professed in our colleges. The consequence is, that while he is reading Adam Smith, Ricardo, and Say, he runs his father in debt irretrievably.”
—Henry David Thoreau (1817–1862)
“It enhances our sense of the grand security and serenity of nature to observe the still undisturbed economy and content of the fishes of this century, their happiness a regular fruit of the summer.”
—Henry David Thoreau (1817–1862)