Dubai is another victim of the global crisis and it started losing most of its foreign investors in the first three months of 2009. However, not so far away, the Tunisian economy is having a completely different experience. All the sectors that have previously been synonymous with investment in Dubai are now being referenced to this small North African country. Foreign clothing giant are investing in Tunisia instead of Dubai while Tunisian textiles companies themselves are experiencing growth. Real estate investment in Dubai have been rocketing in recent years but, this year, International Living ranked Tunisia highest in the Arab region in their 2009 Quality of Life Index, awarding Tunisia 11 points more than the UAE. While foreign direct investments in emerging markets fell by 10 percent in 2008, Tunisia boasted a 38 percent increase and the tourism industry is predicted to grow by 4.8 percent per annum over the next 10 years. A number of privatizations are also due to take place in 2009, including companies in the agricultural, tourism and automotive industries. And new educational facilities will be introduced in the country, including the opening of a branch of the University of Paris-Dauphine. Moreover, entering into an 'Open Skies' agreement a few weeks ago, Tunisia is receiving an influx from European, American and Arabian airlines. Generally, in a global economic downturn, Tunisia looks anomaly. It does, however, face competition from other emerging markets in the Middle East and North Africa region, especially nearby Egypt since both have improved their rankings in the World Bank's Doing Business 2009. Overall, in the near future, Tunisia will certainly be one to watch as the potential new hot spot of the Middle East and North Africa region and even if it still has a long way to go before it matches the success experiences by Dubai, it is no doubt on the right track. Source: Middle East Time | 
