Iraq the next ‘economic frontier’

 

War-torn Iraq has been identified as an economic hotspot in the Middle East.

 

That’s according to new research from one of the world’s leading market research organisations, which says Iraq’s GDP is set for rapid growth.

 

TNS believe the 33 per cent surge over the next three years will see income levels follow suit, creating “a distinct middle class”, says Steve Hamilton-Clark, the firm’s MENA boss.

Home to the region’s third largest population – about 32 million – TNS say Iraq is “fast emerging as the next big consumer market”.

Hamilton-Clark added: “This provides a huge opportunity for brands across all categories to increase penetration, introduce new products and services, and build loyalty.”

It is estimated the war, which crippled the country and its economy last decade, cut national income 40 per cent.

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