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

Explain theoretical and methodological aspects , Explain Theoretical and me...

Explain Theoretical and methodological aspects of international economic relations

British economy, how is it the economy during the two wars and till 20 th

how is it the economy during the two wars and till 20 th

Explain why relative ppp is useful, Q. Explain why Relative PPP is useful w...

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

Asset and output markets are out of equilibrium, Q. Use a figure to study t...

Q. Use a figure to study the following question: Consider that the economy is at a point on the DD-AA schedule that is above both AA and DD, where both the asset and output markets

Theory of consumer behavior, Q. Write about the assumptions of the theory o...

Q. Write about the assumptions of the theory of consumer behavior based on the cardinal utility approach. 1. Rationality- It is assumed that the consumer is a rational being in

Trade theory, haberler`s theory of neoclassical theory of trade

haberler`s theory of neoclassical theory of trade

The theory of international trade, Explain the classical theory of employme...

Explain the classical theory of employment with relaxed assumption?

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