Sunday, February 23, 2020
Brief History of Saudi Arabia and Malaysia Essay - 108
Brief History of Saudi Arabia and Malaysia - Essay Example Malaysia, whose capital city is Kuala Lumpur, is approximately 50 years old. It occupies the Malay Peninsula in Southeast Asia. Its port cities of Malay Archipelago have facilitated spice and silk trade for a long time. Malaysia is located at a trading junction. This position has for a long time, brought trade and foreign influences such as multiculturalism involving Hindu and Buddhist. It has a population of approximately 28 million citizens, with a monarchical form of government (Hooker 2).Given that since the ancient times, Malaysia has comfortably accommodated different cultures with business interest, ours will not be exceptional, and this can also be backed by the economic indicators to be discussed below. According to statistics of 2013 from global edge website by World Bank API, Saudi Arabia has an annual growth rate of 3.798%, which is a positive indicator of the economic performance within the country. The GDP per capital of Saudi Arabia as per 2013, according to World Bank API in global edge website is $53,780 as per the current international rates. This clearly shows that the population has the required purchasing power, hence a good hub for the business opportunity. The population of Saudi Arabia, as given by World Bank API of 2013, stands at 28,828,870 people. 82.702% of this population resides in the urban centers. This urban population represents the potential target market for our restaurant venture. In addition to this, the annual urban population growth rate is pegged at 2.144% as per World Bank API 2013. Looking at the consumer prices statistics of 2013 by World Bank, the inflation rate is pegged at 3.506%, indicating that ideally, consumers are in a position to afford a number of commodities. Similarly, import of goods and services statistics of 2013 reports a remarkable amount of $ 229,291,466,666.