There has been an increase in the business confidence level in Saudi Arabia and other Middle Eastern countries as compared with the global average, according to a survey conducted by a leading international company. Growth forecasts, fuelled by strong crude prices, increased oil production, and rising government expenditure on infrastructure, for Saudi Arabia in 2011 will exceed four percent. Increased orders and revenues are being seen across all sectors, not just in hydrocarbons. According to the survey over half of the companies operating in Middle East including Saudi Arabia reported healthy profit growth (54 percent) and a rise in revenues (59 percent). The robust economic business climate and reports of rising revenues and profits prompted Regus, a global workspace provider to open its third center in Saudi Arabia. Regus, already present at two locations in Riyadh has opened its third centre at Novotel Business Park in Dammam. Joanne Bushell, vice-president for Middle East and Africa at Regus said the business environment in Saudi Arabia is creating strong demand for Regus's workspaces. “While there is robust business growth and optimism in the Middle East, businesses are also introducing strict cost controls,” said Bushell. She said that a combination of that is steering things towards flexible, scaleable property solutions, rather than long-term, fixed commercial property arrangements. “As a result, we've experienced growing demand from customers in Saudi Arabia, and we've opened this new Dammam business center in response to that demand,” said Bushell. She said the new center will be a valuable resource for companies as they seek to profit from the excellent business outlook in Saudi Arabia. Regus has two other centers in Saudi Arabia: at Riyadh Kingdom Center, and Riyadh World Trade Center. The company has invested extensively in its network of centers across the Middle East, which covers Bahrain, Jordan, Lebanon, Oman, Qatar and the United Arab Emirates, as well as Saudi Arabia. Business confidence levels in the Middle East including Saudi Arabia are higher than the global average, she said. __
