Through research and analysis it has been determined that Middle East is slowly becoming the target of consumerism which is costing it its national identity in the process. The traditional values and cultural aspects of the Middle Eastern society are deteriorating in the face of the changing dynamics brought on by the increase in consumerist culture in the region.The factors that have been identified as the aggregators leading towards consumerism are as mentioned below.
The oil rich states of theMiddle Easthave been wealthy in terms of their natural resources and the revenue that they earn form their export of the crude oil providing them with a stable and progressive economy. The incredible wealth of the region combined with the excessive disposable income that is available to the people in the Middle East has contributed to the increase in consumerism
The oil rich states with their stable economies provided a fertile region for economic development and progression for the international investors as well. This is why many businesses and corporation from the west have ventured to the region to increase their target market toAsiaandAustraliaas well as cater to the local population in the region. Similarly entrepreneurs formIndiaandChinahave also established their businesses in the region to take advantage of the positive economic trends in the region resulting in globalization which has led to increase in the consumerism in the region.
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