Foreigners looking to establish businesses in MENA’s emerging market not only need to cope with local business regulations and challenges, but they also need to learn the nuances of the local culture.
For Will Hutson, CEO and founder of digital media agency LMTD, the opportunities outweigh the challenges. His UAE-based company capitalized on MENA’s high mobile consumption and engagement on social media.
According to a six-nation survey conducted by Northwestern University in Qatar, the Middle East’s internet and smartphone penetration rose across the region between 2013-2016. In the UAE, internet penetration in 2016 stood at 100 percent and mobile penetration at 99 percent.
In this video, Hutson shares his three pieces of advice to others looking to set up shop in the MENA region: humility, invest in talent, and patience.