Abigail Miles (B’26) on Learning Global Business from Leaders in the Persian Gulf
This story is part of the Student Voices series, which provides a firsthand perspective of the student experience at Georgetown McDonough.
Abigail Miles (B’26) recently attended the Gulf Cooperation Council (GCC) Conference in Qatar, sponsored by the Baratta Center for Global Business. The event featured panel discussions and keynote speeches with GCC ministers, global investors, and senior government officials.
Here, Miles discusses key takeaways from the conference and how her experience in Qatar enhanced her understanding of global business.
I chose Georgetown McDonough because I wanted a rigorous and comprehensive business education at an international university supported by a strong alumni network. I was excited by the specialized courses in finance and other fields of business I would take while at McDonough. Now as a junior studying finance and Spanish and as a Global Business Fellow, I appreciate McDonough’s commitment to its students and the strong community at the university.
The opportunity to attend the GCC Conference in Qatar was truly unforgettable. The conference was formed with the intent of discussing how nations in the GCC may shift away from their reliance on oil and petroleum production and diversify their economies, with a focus on sustainability and future innovation. Through attending the conference, I learned an immense amount about the economy of Qatar and other GCC countries, including how crucial foreign skilled labor is to these nations’ development plans and the different industries they are targeting as they expand their reach beyond oil and gas.
Valuable Business Lessons Learned at the GCC Conference
There were several key takeaways from the GCC Conference. The first was understanding that regional partnerships are tantamount to the immediate and future success of GCC countries. The ability to foster dialogue between Qatar, Saudi Arabia, and the other Gulf countries was important in creating a “strong team” with which they could meet the world stage and successfully lobby their interests against global superpowers (including the United States and China).
The second key takeaway from the conference was the impact that tourism has had on developing the Qatari economy, especially during and following the FIFA World Cup in 2022. Understanding the level of investment and infrastructure needed to host this event was insightful, especially in seeing how leaders from Qatar weighed these costs with the potential future benefits – whether that was gaining further international sporting events or simply creating more awareness for the country.
Similar to the discussion around the World Cup, understanding how Qatar, as a young nation, has mapped out and strategically planned each stage of its growth was fascinating. The same sort of clear-cut plan simply does not exist for an economy as diversified and developed as the United States, and it was interesting to compare and consider the costs and benefits of having heavy involvement from the Qatari government in the nation’s economic prospects and growth.
Experiencing the Culture of Qatar
On our last full day in Doha, we had the opportunity to attend a cultural immersion session outside the city. This was an incredibly insightful experience into the daily life of a Qatari citizen and provided us with perspective on how citizens view themselves in a global context. For many of us, the quantity of resources available to Qatari citizens was unfathomable, and to hear the personal stories of someone who had grown up in the country was enlightening. After the cultural immersion session, we visited the Islamic Art Museum, which was another highlight. It demonstrated the extent of Islam as well as the nuances of the religion across regions, as expressed through the art, weapons, and jewelry produced all over the world.
My experience in Qatar impacted my understanding of global business by recognizing the different interpretations and strategies global firms must use in unique contexts. My perspective of global business came from a western, U.S. approach, as well as through the lens of someone who has grown up in a globalized world. It was fascinating to learn about younger nations that have recently emerged on the global stage and to see how Gulf nations’ governments and corporations grapple with the challenges of becoming prominent players in the world economy, and also how they viewed their comparative advantages – such as the level of government subsidies that can be provided to firms seeking to set up offices in Qatar.
It was also impactful to hear how their perspective of global business is shaped by the vast amount of wealth these countries have and continue to accumulate. The connections Qatar and other Gulf states have in the financial industry through their sovereign wealth funds have shaped their ability to bring these same financial institutions to their countries, and also given them immense experience working in the financial industry – illustrated by the wealth of financial and investing acumen the Qatar Ministry of Finance had. Previously, I had viewed these nations as predominantly reliant on oil exports to fuel their economy, yet attending the GCC Conference led me to understand the complexity and expertise Gulf nations possess in being partners to a variety of global investment opportunities, and how that has altered their future strategy and what industries they believe are primed to succeed in the future.
Lasting Impressions
This summer, I will be interning with Blackstone in the private credit strategies group. Working for a firm at the forefront of direct lending, I seek to tie the unique experiences and information I have gained about the GCC countries to the quantitative analysis of international firms and their creditworthiness. Understanding the way international firms and other countries approach development has also shaped how I comprehend corporations that were not originally based in the United States. Additionally, the connections I have fostered with other incredible members of the Georgetown community at the GCC Conference has strengthened my professional network. Our cohort of students on the trip continues to stay in touch and meet up following our time in Doha, which has allowed me to learn more about the graduate programs Georgetown has to offer and the unique courses available to students.
-Abigail Miles (B’26)