Can the Gulf stay open for business?
Business Daily
BBC
4.4 • 816 Ratings
🗓️ 5 March 2026
⏱️ 18 minutes
🧾️ Download transcript
Summary
From Hollywood adverts fronted by Idris Elba to glittering skylines and global events, Gulf countries have spent decades pitching themselves as stable hubs for international investment.
But as conflict spreads across the Middle East, investors are watching the region more closely.
In this edition of Business Daily, Sam Fenwick investigates whether the Gulf’s carefully built reputation for stability can hold — and what rising geopolitical tensions could mean for foreign investment, business confidence and the region’s economic ambitions.
If you'd like to get in touch with the team, our email address is businessdaily@bbc.co.uk
Presenter: Sam Fenwick Producers: Sarah Rogers, Gideon Long, David Cann and Rebecca Smylie
Business Daily is the home of in-depth audio journalism devoted to the world of money and work. From small startup stories to big corporate takeovers, global economic shifts to trends in technology, we look at the key figures, ideas and events shaping business.
Each episode is a 17-minute, daily deep dive into a single topic, featuring expert analysis and the people at the heart of the story.
Recent episodes explore the AI boom, why bond markets are so powerful, China's property bubble, and Gen Z's experience of the current job market.
We also feature in-depth interviews with company founders and some of the world's most prominent CEOs. These include Google's Sundar Pichai, Wikipedia founder Jimmy Wales, CEO of Canva Melanie Perkins, and the CEO of Starbucks, Brian Niccol.
(Picture: A green motorway sign points the way to Dubai as smoke rises in the background. Credit: Getty Images)
Transcript
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| 0:00.0 | BBC Sounds, Music, Radio, podcasts. |
| 0:06.7 | Hello and welcome to Business Daily from the BBC World Service. I'm Sam Fennick. |
| 0:12.5 | As war breaks out in the Middle East, the Gulf states find themselves caught in the middle. |
| 0:18.1 | For years, countries like the UAE, Qatar and Saudi Arabia have worked to |
| 0:22.4 | present themselves as stable hubs for finance, tourism and technology. But when conflict erupts, |
| 0:29.1 | markets react fast, oil prices jump, flights are rerouted, and investors begin to reassess risk. |
| 0:36.3 | We've seen people backing out from a five-star project for investors |
| 0:40.9 | and people have paid just deposits and already those have been cancelled. |
| 0:45.0 | So today we're asking, |
| 0:46.6 | can the Gulf maintain its reputation as a safe place to invest |
| 0:50.1 | or does every new conflict put that reputation to the test? |
| 0:56.3 | Over the past two decades or so, countries across the Gulf have poured billions into reshaping |
| 1:02.2 | their economies. |
| 1:03.3 | Hey, you are not crazy. The world is changing. but you have a dream. |
| 1:11.6 | Glitzy adverts like this featuring Hollywood actors |
| 1:14.5 | have been used to entice global investors. |
| 1:18.4 | Cities like Dubai, Doha and Riyadh have tried to reinvent themselves, |
| 1:23.1 | attracting global capital, hosting international events, |
| 1:26.9 | and building industries far beyond oil. |
| 1:29.6 | Bring your impossible to the Emirates. |
| 1:32.8 | Tourism, aviation, finance and technology have all become central to that strategy, |
| 1:38.4 | alongside efforts to draw in foreign workers, investors and entrepreneurs from around the world. |
... |
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