Dubai
The Arab Strategy Forum is being transformed into a regional “knowledge and research base” that will monitor key issues in the Arab world.
His Highness Shaikh Mohammad Bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, announced the changes in a statement on Tuesday evening shortly after the eighth edition of the forum concluded.
The forum will analyse economic and geopolitical data, determining gaps between Arab governments and citizens, according to the statement.
“We have to build an advanced model that allows us to invest in the knowledge and science necessary to understand the aspirations of the people, unify their efforts and direct them in the right direction to achieve sustainable growth and development,” Shaikh Mohammad stated.
The announcement follows the release of the Arab Spring Cost Report earlier on Tuesday. The report compiled by the Arab Strategy Forum found the cost of Arab Spring was $833.7 billion.
The report compiled existing data and information looking at the cost of rebuilding, losses in gross domestic product (GDP), losses to tourism, the refugee crisis, as well as losses to the investments and securities markets.
The single largest cost involved in the Arab Spring between 2010 and 2015 was $461 billion in losses related to infrastructure damage but not “the irreparable cost of destroyed historic and architectural sites.”
The losses to gross domestic product were $289 billion, which the statement said were based on GDP growth estimates and local currency exchange rates.
Losses to stock markets and investment were in excess of $35 billion over the period while financial market losses were $18.3 billion and losses in foreign direct investment were $16.7 billion.
The number of tourists to Western Asia and Northern Africa countries fell by 103.4 million visitors in the four years following 2010 and the Arab Spring resulted in the displacement of more than 14.3 million refugees. The refugee crisis cost $48.7 billion, according to the statement.
