Less capital ouflow ‘Gulf emerging as investment haven’ - Khaleej Times

ABU DHABI — Outflow of capital to the developed world from the oil producing countries of the Gulf has reduced substantially since the past five-years with the region emerging as an 'investment haven', and gross domestic product (GDP) scaling high, due to new development projects, said a senior economist.

"The region had been exporting long-term capital to the banks and financial institutions in Europe and US which has slowed down as hard money has been diverted to finance tremendous business opportunities created in the Gulf and banking industry offering new products," said Howard Handy, chief economist for MENA region at Institute of International Finance (IIF) based in New York.

Funny way of putting it.