Culture, Economic, and Entrepreneurial Environment in the Gulf Cooperation Council (GCC) Countries

Abstract

Culture and economic settings are often perceived as key influential elements in formulating the entrepreneurial ecosystem, either on the organizations level or the entire social system. In their different forms, culture and economic conditions have always been critical drivers for innovation and entrepreneurship. Understanding the community's cultural traits and economic status helps entrepreneurs map their entrepreneurial objectives and define enablers and deterrents. This chapter investigated the cultural and economic environment within the Gulf Council Countries (GCC), mapped their Corporate Social Responsibility (CSR) practices and entrepreneurial performance. It was evident that some cultural traits, such as tribalism, could play an adverse role in supporting entrepreneurship. However, the economic system, which mainly relies on oil and gas production, could be the best enabler for entrepreneurship, which has a unique nature in the GCC and receives high government reinforcement through massive capital surpluses generated from the oil revenue. The latest statistics ranking the global entrepreneurship performance indicated that the GCC lay in the middle area among other countries worldwide. Qatar came on the top of the GCC with a global rank of 22, while Saudi Arabia came last, at position 45 globally. The government legislative and economic support for entrepreneurship activities contributes to preparing a proper authoritative climate that promotes entrepreneurship and could be a golden opportunity for entrepreneurs in the GCC.

Citation

Alanzi, S., Ratten, V., D'Souza, C. and Nanere, M. (2022), "Culture, Economic, and Entrepreneurial Environment in the Gulf Cooperation Council (GCC) Countries", Ratten, V. (Ed.) Strategic Entrepreneurial Ecosystems and Business Model Innovation, Emerald Publishing Limited, Leeds, pp. 61-74. https://doi.org/10.1108/978-1-80382-137-520221005