American Express Co. is a multibillion-dollar holding company whose subsidiaries provide travel and financial services worldwide. Established in 1850, the company boosts an experience of over a century in providing quality services globally. AMEX has grown from a small freight company to one of the leading global providing financial and travel services. AMEX is committed to maximizing services to its customers, based on trust, integrity, security and high quality. AMEX continues to be a remunerative and powerful finances brand within the global economic realm.
Saudi Arabia has a rapidly growing economy which is attracting foreign investors. The country has a strong, efficient and competitive domestic industry. In 2012 the country GDP rose by 6%. The Middle East country is one the most stable countries in the region despite the political turmoil that has been experienced in neighboring ...view middle of the document...
First, the inadequate legal framework in resolving commercial disputes makes it nearly impossible for other financial players to follow in the steps of AMEX. This makes transparency in applying intellectual property legislation lacking. The aspect of culture may also be a challenge, acquiring basic understanding with Islam, culture and ethics. Secondly, people in the region prefer to do business with people they know which means it may be difficult in the first few years of investment in stabilizing the business brand in the region. AMEX was rejected initially when attempting to be the financial powerhouse in The Kingdom because all monetary funds belonged to the King. AMEX had to educate the country leader in investing.
There are many opportunities in Saudi Arabia Kingdom because of the growing economy which wants to diversify the Middle East. Investors in Saudi Arabia can enjoy increasingly well-developed business clusters and value chains that set the nation apart from its neighbors and from other emerging economies. Apart from just oil, gas and petroleum industry, investment opportunities are available in the financial and professional services that American Express offers such as yearly rental and mortgage payments, cell phone and internet access payments, day to day spendings and luxury living and brands. The Saudi economy did not experience or was it affected by the global financial crisis making the Saudi Kingdom’s banking sector stable. The e-commerce sector is yet to be fully utilized although it is growing at a rapid rate. It is becoming the primary and most preferred method of spending via innovation and the internet with the primary combined AMEX Corp with the banking system of Saudi Arabia.
International Market Advisor.( 2014). Doing Business in Saudi Arabia. Retrieved from http://www.saudiarabia.doingbusinessguide.co.uk/the-guide/opportunities-in-saudi-arabia/
Santander Group (2013). Saudi Arabia: Foreign investment. Retrieved from https://en.santandertrade.com/establish-overseas/saudi-arabia/foreign-investment