The Kurdistan Region has exported over 34.5 million barrels of oil in 2014. In total, around $3 billion-worth of oil has been sold to customers around the world.
Real Estate & Construction
High-profile commercial and residential projects are going up quickly, big residential developments on the outskirts of Erbil are in progress and
will greatly expand residential real estate supply in 2-3 years, and much-needed office space is increasingly coming online.
Internet penetration rates have been climbing steeply, with major growth in local Internet services providers (ISPs). Mobile penetration rates—already relatively high at roughly 93% within the Kurdistan Region—are continuing to rise.
Construction at Duhok International Airport (DIA) is ongoing, with a projected completion date in 2017. Airport officials aim to see 328,000 passengers, 8,700 tons of cargo, and 3,540 aircraft movements at the airport in its inaugural year.
Studies have indicated that approximately 50% of the water in the Kurdistan Region exists domestically (in contrast to an estimated 8% in the rest of Iraq).
Enrollment in private universities has expanded rapidly. In 2014, Kurdistan’s 12 private universities admitted 12,000 new students, an increase of 5,000 over the year prior.
A doubling of Kurdistan’s workforce presents much more opportunity than liability—the addition of 1 million bright, capable entrants to the workforce carries with it unrivaled untapped potential for the Region’s economy and business environment.
Foreign and local investors have contributed $927 million to Kurdistan's health sector since 2006.
UNESCO’s World Heritage Committee has named the Erbil Citadel to its
list of World Heritage Sites after 18 of the Committee’s 21 members voted to approve its application. The Citadel
is one of the oldest inhabited cities in the world, with a history that stretches 6,000 years.