In the oil-rich Arab countries of the Gulf, September 11 is increasingly being seen as the event that kicked off a galloping economic boom

CNN.com - 9/11 factors boost Gulf economies - Aug 21, 2005: "Sunday, August 21, 2005; Posted: 12:01 p.m. EDT (16:01 GMT)

DUBAI, United Arab Emirates (AP) -- In the United States, the September 11 attacks are seen as the catalyst for a period of fear, war and economic worry.

But in the oil-rich Arab countries of the Gulf, September 11 is increasingly being seen as the event that kicked off a galloping economic boom -- and prodded investors to pull their money out of a United States perceived as hostile to Arabs, and instead invest it at home.

Since late 2001, economies in the six Gulf Cooperation Council countries have soared, with stock markets up a collective 400 percent. During the same period, investments from those countries into the U.S. slowed to a trickle.

In Saudi Arabia, birthplace of 15 of the 19 terrorists involved in the September 11 attacks, gross domestic product rose 37 percent between 2001 and last year. In the Emirates, home to two of the terrorists, GDP jumped almost 50 percent. ...