Culture is essential to enhancing a region's reputation, serving as a ‘promotional gift’ and a cornerstone of its identity. The Gulf region — encompassing the member states of the Gulf Cooperation Council (GCC) — offers a wealth of cultural richness.
Foreign executives are often impressed by the unique cultural heritage of the Gulf region — its ‘inherent regional equity’. The GCC can leverage this heritage to enhance its global appeal — it is perfectly positioned for success, equipped with all the critical ingredients: a rich cultural heritage with powerful narratives, proactive royal and other influential families ensuring swift decision-making, and substantial funding opportunities.
A recent multi-year study on the corporate reputations of GCC financial institutions, which surveyed over 3,000 C-suite executives and senior managers from Fortune Global 500 and Forbes Global 2000 companies, revealed that foreign decision-makers believe the Gulf region needs to articulate (much) better (CEO quote) “the interesting stories behind the GCC countries”. As one executive noted (quote), “the GCC countries offer a more positive experience in practice than is commonly perceived” — a sentiment echoed by dozens of executives and senior managers regarding living and doing business in the Gulf region.
As reputations serve as the primary channel of communication for national and regional identity, it becomes increasingly vital to carefully manage international perceptions, especially in a world where news — and subsequent perceptions — travels at the speed of light, whether offline or online. The unique culture of GCC countries offers a genuine, non-commercial narrative bridging their past and promising future. In an age of misinformation, this authenticity showcases the true qualities of the Gulf region's people and institutions — in addition to the financial wealth that enables the GCC to punch above its weight in global affairs.
I was surprised by the gap between the (mostly) positive perceptions, opinions, and experiences of foreign executives and senior managers and the lack of effective storytelling about the true narratives of the GCC countries, particularly regarding their ‘soft’ edge (culture). The GCC possesses the essential ingredients for a distinctive reputation built on strong, authentic narratives. Beyond natural (oil and gas) and financial resources, the GCC undeniably possesses a mature and authentic ‘cultural pulling power’.
Building a strong and positive national and regional reputation is increasingly crucial for securing a place in the 'mental decision-making space' of executives and senior managers — and, ultimately, for attracting foreign businesses.