External economic environment on the project, International Economics

Assignment Help:

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.


Related Discussions:- External economic environment on the project

INTERNATIONAL TREAD, WHATE IS THE PROPERTY OF OFFER CURVE OF A COUNTRY

WHATE IS THE PROPERTY OF OFFER CURVE OF A COUNTRY

Welfare effects of tariff, Welfare Effects of Tariff can be understood as f...

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

Capability, In the International Medical Center, clients are patients who ...

In the International Medical Center, clients are patients who use the services provided by the hospital, such as the health program, preventive services, and surgery. Other custom

Explain how a rise in real income affects aggregate demand, Q. Expl...

Q. Explain how a rise in real income affects aggregate demand. Answer: An increase in domestic real income Y leads to a rise in disposable income Yd. This increases

Herbeler''s increasings cost doctrine, How do countries gain under the incr...

How do countries gain under the increasing cost assumptions

What quantity could it sell at what price, Q. The figure below shows the d...

Q. The figure below shows the demand and cost functions facing a Brazilian Steel producing monopolist. If it were unable to export, and was constrained by its domestic market, wh

Impact of the project on the external economic environment, Impact of the P...

Impact of the Project on the External Economic Environment International Medical Center will significantly affect the external economic environment in different aspects: • Th

How and why did europe set up its single currency, Q. How and why d...

Q. How and why did Europe set up its single currency? Answer: The why part of the question is associated to large fluctuations in the exchange rates between the Europe

Explain the financial revolution and monetary affairs, Explain the Financia...

Explain the Financial Revolution and Monetary Affairs

Unrealized gains from trade, Q. Explain why large interest rate differences...

Q. Explain why large interest rate differences would be strong evidence of unrealized gains from trade. Answer: The difference between offshore and onshore interest rates on

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd