Bosnia catching up for Arab investments

Arab investors are now looking to Bosnia as a potential destination for their investments. Arab tourists also prefer Bosnia for spending summer. The low cost of labor and affordable land are major factors that make Bosnia attractive for Arabs.

Arab investors are parking their investment in the construction sector. Bosnia's tourism sector is emerging alternative to expensive Swiss resorts.

Bosnia, the mountainous Balkan country in southeast Europe, is emerging as a hotspot for tourists from Gulf nations including Saudi Arabia, Kuwait, Qatar and United Arab Emirates (UAE).

The affordable land and labor are prime attractions for Arab investments. Moreover, Arabs are much comfortable with local Muslim community as well.

According to a report by Skift, Bosnia, which is recovering from ill effects of war that occurred in 1992-1995, is also upbeat on Arab investments. Bosnia is struggling with the unemployment problem, which is hovering over 40 percent. The construction sector is the major employment generating sector in Bosnia.

The Balkan country Bosnia is a home to 3.8 million population, of which 40 percent are Muslims. Bosnia is attracting more number of tourists from Gulf nations. Bosnia's capital city Sarajevo is the latest one in the expansion plans of Gulf-based construction companies.

The Guardian reports that Buroj Property Development, a Dubai-based developer is building a€4.5 billion ($5.1 billion) tourist city in Bosnia. This project will attract more investments from the UAE.

Buroj Property Development's latest project includes thousands of homes, several hotels, a shopping mall and a hospital. Buroj Property Development's President Ismail Ahmed said: "This is my life project and I hope that we'll finish it without delay. I sincerely believe in this because I am convinced that Bosnia is an important global tourist destination that has yet to be discovered."

The Muslim Bosniaks are the majority among the three ethnic groups in Bosnia. Arabs are attracted by mountain landscape and weather conditions in Bosnia.

The new project is expected to generate 10,000 local jobs in Bosnia, as reported by Gulf News. The new project will transform Bosnia and Herzegovina into tourism hotspots.

Several projects are coming up in and around the Sarajevo, the capital city of Bosnia. Arab investors are building hotels, houses in the capital city. Bosnia tourism sector is fast catching up as an alternative to glamorous Swiss resorts.

Jasem Ahmed Al Kanderi, the head of a Gulf Estate Company from Kuwait, said: "Bosnia's tourism has a bright future. The country is beautiful."