It’s been described as the Germany of the Middle East, with nearly 80 million people, an educated workforce, and a proud tradition of manufacturing.
Throw in the world’s largest oil and gas reserves, and it’s easy to see why investors and international companies are getting very excited about Iran.
After years of economic isolation, the prospect of the world’s last major frontier market opening up in 2016 — assuming sanctions are lifted as planned — has many executives already beating a path to Tehran.
But it’s been an extremely painful time for Iranians — average incomes have fallen by more than $2,000 since 2011, and Iran now produces just half the economic output of Turkey with roughly the same population. Closing that gap should mean opportunities abound.
Sanctions have kept a tight noose around the economy for the past four years, holding businesses and the economy back.
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