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

Characteristics of human resources, Characteristics of human resources in t...

Characteristics of human resources in the International Medical Center are their diversity and versatility; we find jurisdiction in the field of advanced medicine, we find at the s

Exchange rate between the dollar and the euro, Q. What is the real ex...

Q. What is the real exchange rate between the dollar and the euro equal to? Answer: Let actual dollar/euro exchange rate q$/ENominal exchange rate E$/EPrice of an unchan

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

International trade in assets make both countries better off, Q. Ho...

Q. How can international trade in assets make both countries better off? Answer: By permitting them to reduce the riskiness of the return on their wealth and by allowin

Flexible exchange rate regime, under fleible exchange rate regime what are ...

under fleible exchange rate regime what are the consenquences of current account deficit and surplus

Compare and contrast economic regions, Compare and contrast China's newest ...

Compare and contrast China's newest economic regions: the Special Economic Zones (SEZs), Open Cities, and Open Coastal Areas. What is the purpose of each regional type? Show how e

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

Types of international transactions, Q. What types of international transa...

Q. What types of international transactions are recorded in the balance of payment accounts? Answer: Three kinds' transactions that involve exports and imports of goods and s

Situations when a tariff and a quota are not equivalent, Q. Economic theor...

Q. Economic theory in general and trade theory in particular are replete with equivalencies. For illustration, it is argued that for any specific tariff one can search an equival

Dd-aa schedule, Q. Imagine that the economy is at a point on the DD-AA sche...

Q. Imagine that the economy is at a point on the DD-AA schedule that is above both AA and DD and where both the output and asset markets are out of equilibrium. Explain what will h

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