A Secure Environment for Arab and International Companies

While in the not-so-distant past the Kurdistan region in the northern part of Iraq was plagued with violence and cruel attacks from the dictatorial Saddam regime, modern Iraqi Kurdistan is quite different. In fact, today’s Iraqi Kurdistan is the fastest growing region in the country. Especially Erbil, the capital of the autonomous Kurdish region, has already attracted billions of dollars in foreign and Arab investments, while at the same time all kinds of Erbil business ventures have created thousands of new job opportunities for the local people.  Additionally, this atmosphere of growth and prosperity has attracted large numbers of international high-class professionals who have taken residence in the city – most of them accompanied by their families.

Together with the influx of expatriates, large numbers of Diaspora Kurds have returned to their homeland attracted by the security of the place and the increasing financial activity of Erbil business and trade opportunities.

Four Main Reasons for Success

The fact that Erbil has proved to be a successful emerging market is due to the following four main reasons:
 

•    The determination of the Kurdistan Regional Government (KRG) to preserve the security of the region with the help of the local Peshmerga army who have successfully managed to keep violence away from their region.  While the southern parts of Iraq are often beset with violent incidents and social upheaval, Erbil sets an example of living a life of peace, respect for differences, and financial prosperity.

•    The application of favorable investment legislation by the KRG in order to promote the growth of Erbil business and the goals of the private sector in general. At the same time, the Kurdistan Regional Government tries hard to fight all forms of corruption in the public sector and make all public services work in the most efficient way so that they can assist and contribute to the financial growth of the region.

•    The oil and gas industry of northern Kurdistan has proved a significant factor in the economic growth and the attraction of more investments in the region. A large number of international oil companies have been attracted to the area as the Kurds are now able to benefit from their rich oil resources. Since oil and gas can now be exported to several European markets through Turkey, the financial benefits for the Kurdistan region are really significant.

•    Erbil International Airport has also contributed to the financial growth of the city by promoting both tourism and trade. With an annual passenger growth rate of 26% and about 1.2 million passengers in 2013, as well as a 40% increase in cargo tonnage, the airport plays a vital role in the economic development of the Kurdistan capital. What is more, a large percentage of travelers to and from Iraq choose Erbil International Airport as their entry or departure point especially because of its high security levels. This fact has dramatically increased the number and the income of entertainment, retail, and accommodation businesses in the city.

More than 1000 Erbil Business listings
Because of its location on the crossroads between the East and the West, the fertility of its land, and its cultural development, Erbil has always been one of the most important trade centers in Mesopotamia. Today, with a population of about 1.5 million people, the city is a promising business landmark in the Kurdish region. If you have a look at one of Erbil’s business directories, you will see that the city features more than 1000 listings in different sectors.

Of course, on the top of the list there are the 45 Oil and Gas international companies which are the ones with the largest turnover. The construction sector comes next with nearly 100 companies followed by the entertainment sector with 90 companies. High on the list is the hospitality trade as there are more than 70 hotels or motels in the city and about an equal number of restaurants and cafés.

In the past couple of years, more and more car, travel and tourism, telecommunications as well as computer and software companies open their offices in the city. Last but not least, there are about 400 retail businesses in the city covering sectors such as clothing, furniture and home decoration companies.
 

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Erbil Citadel

 

Erbil Citadel - The historical value of Erbil Citadel to archaeologists and historical city centre of erbil in Iraq. 

Erbil 2014 – The Arab Tourism Capital

The Arab Council of Tourism has voted Erbil as the Arab Tourism Capital for the year 2014. Erbil 2014 will continue to be the pole of attraction for tourists and visitors to the Kurdistan region, as it has been for the past 7 years.

 

People who come here may not be able to say that Erbil is the most beautiful city in Iraq, but it is definitely the most interesting and the one that offers an exciting trip to the distant past and into the history of the region. People also decide to visit Erbil because here they can find the most business opportunities, several exhibitions in a large number of sectors, as well as high-end shopping centers, entertainment and accommodation facilities.

Erbil 2014 in Numbers

•    Erbil is the capital and the largest city in the autonomous Kurdistan region with a population of 1.5 million people and it is the 4th largest city in Iraq

•    According to a New York Times list, Erbil is the 34th most preferred tourist destination, while the National Geographic Magazine had Erbil in its list of the 20 best trips in 2011

•    Erbil International Airport is expected to handle more than 2 million passengers and 40,000 tonnes of cargo in 2014

•    There are 21 different airlines that currently fly to Erbil Airport
•    There are 5875 registered companies in the lists of the Erbil Chamber of Commerce
•    The city has 8 large shopping malls with thousands of customers per year
•    Erbil International Fairground hosts at least 10 international shows per year
•    According to the Iraqi Industrial Development Authority, the Erbil labor force is 865,000 people

Erbil 2014 Entertainment for Visitors

Most visitors to the city who come to Erbil from neighboring countries or from the rest of Iraq look for a chance to spend a short holiday having fun, visiting places of natural beauty and doing their shopping in one of the luxury shopping malls of the city.

Apart from the ancient Citadel and the old part of the city which is the first and most important sight for anyone who comes to Erbil, visitors can try:

•    The Family Mall – the largest of Erbil’s Malls which opened its doors in 2010 and as its name suggests is ideal for families. Adults will find anything they want in the 100 retail stores, while children will love the large indoor ice-skating rink, going to see a movie in one of the 14 cinemas, or visiting the Digital City for the newest computer games

•    Sami Abdul Rahman Park where you can go for a picnic with your children. It is the largest and most beautiful park in Kurdistan with several playgrounds, cafés, and two beautiful lakes with paddle boats that will help you chill out on a hot day

•    Aqua Tarin Water Park is the place your kids will enjoy more than anything else. That does not mean that the place is not ideal for adults who want to have fun on one of its many waterslides.  On Thursdays and Fridays there are events, competitions, and performances by famous artists. Drink your coffee or enjoy a delicious meal in the green gardens of the park and have fun with your family.

Erbil 2014 International Fairground Exhibitions

For those who come to Erbil for business and want to find out about the latest developments in technology, household equipment and decoration, cars and commercial vehicles, building and construction, and a lot more, the Erbil tradeshow is not only a valuable source of information, but also a great chance to meet businessmen, inventors, international traders, prospective customers and distributors.