External economic environment on the project, International Economics

The external economic environment could have implications for the project in various areas.

There is no tax in Saudi Arabia; this is a significant political effect on the project that would attract investors from all over the world. In fact, this can be an advantage to project. Moreover, the government of Saudi Arabia encourages projects that support the objectives of the government. Probably the project will support the economy of Jeddah and the economy of the   country. The country's economy might do well compared with other Gulf States (Oman, Kuwait, Qatar, and Bahrain), and will boost the economy through this type of project.

       In the socio-cultural field, there will be a strong impact of this project to change the style and method of treatment in this city, and perhaps in the entire country. Treating mind, body, and soul will attract patients from different country, and Jeddah  will become a multicultural city; this will have an effect on Saudi culture.

      The project uses advanced technology and it is unique in the Middle East; this will help the project to have a non-direct announcement by the people. Environmentally, the project used a solar energy system in part of the building, reducing the air pollution problem in Jeddah. The government has enacted strict laws to reduce medical errors, thus making the project use high technology and high service to reduce these errors.

      Global competition, cost advantages, and government influence have clear impact on the International Medical Center.

       There are three aspects of convergence between the markets to be covered. First is high quality service and meeting patient needs, and this project focuses on serving  a large group of people, so it will look unique in every way. All this puts IMC under pressure to provide high quality services and advanced medical technologies. In addition, international patients who come for treatment at IMC and expect high quality care find that IMC meets their level of expectations. On the other hand, IMC will be affected by the Saudi Arabian government focusing on the health service and provide more advertising, which helps to attract new customers, thereby providing special offers to insurance companies that have big contracts with companies, for instance, Armco, to be investors in IMC and support it. Cost advantage and price controls will have an impact on attracting different segments of customers. The impact of government will be in favor of this project, because the government of Saudi Arabia encourages the health sector and outstanding projects. Global competition puts IMC under pressure to have high quality service and use advanced medical technology. 

        The high proportion of diabetics in Saudi Arabia has motivated the International Medical Center to open a specialized department for treatment of diabetes.

Posted Date: 3/2/2013 6:11:06 AM | Location : United States







Related Discussions:- External economic environment on the project, Assignment Help, Ask Question on External economic environment on the project, Get Answer, Expert's Help, External economic environment on the project Discussions

Write discussion on External economic environment on the project
Your posts are moderated
Related Questions
Welfare Effects of Tariff can be understood as follows: It is important to understand what the welfare effects for the tariff are. While a tariff might seem desirable because i

Globalization The procedure of interlinking financial markets in various countries into a common, world pool of funds to be accessed by both between borrowers  and lenders. It


Q. The Heckscher-Ohlin model is famous for being elegant and mathematically sophisticated, yet failing to define reality. One manifestation of this fact is Trefler's Case of Missi


Q. Why is the H.O. model called the factor-proportion theory? Answer: The H.O. model survey the limitations and the nature of presumptuous that the sole determinant of compar

Question: (a) Illustrate the differences between inter and intra industry trade. (b) Foreign Investors generally tend to adopt a two-stage process when evaluating count

explain the law of reciprocal demand trade theory of marshall

The hospital, as an open system, affects and is affected by the surrounding environment; it is incumbent on staff to monitor and continuously track the variables contained in order

Q. Explain why Relative PPP is useful when comparing countries that base their price levels on different product baskets. Answer: For instance If the U.S price level increase