ContextThe global financial crisis experienced in 2007/2008 affected many countries around the world. Some countries like America and most European countries have been hit hard because they were directly affected by the crisis. Other countries, particularly those in Asia and Africa, were not affected because they were not directly affected by the crisis. This crisis began in the United States after the bursting of the housing bubble. Although the bursting of the housing bubble was the main cause of the crisis, a series of events preceded it. An event that indirectly contributed to this crisis was the Russian debt crisis as well as the Asian financial crisis of 1997/1998. These two events prompted many investors to divert their financial investments to other countries that appeared stable. One of these countries was the United States. The inflow of foreign funds has increased the liquidity of most financial institutions. This has led financial institutions to introduce friendly credit terms to encourage borrowers to take out loans. Due to easy access to loans, many consumers fell into debt and consumption at this time was largely based on credit money. With increased access to loans, the cost of housing began to rise. This has attracted many investors in the real estate sector. Many potential homeowners also borrowed to build their own homes. Most financial institutions have entered into financial arrangements such as mortgage-backed securities to help people become homeowners (Mayes, 2009). After a while, house prices began to fall. The speed at which their prices fell was so great that in a very short time their value was well below the value of the mortgages. A lot of financial effort will be made to contact respondents and shed light on the study questions before giving them the questionnaires. This will undoubtedly create an environment of respect and mutual understanding between the two parties.ConclusionThe Gulf region is one of the many regions of the world that were indirectly affected by the 2007/2008 global financial crisis. Although this crisis occurred in the United States, its ripple effects affected many countries. The crisis led to a drastic fall in global oil prices and these countries were affected since their economies were dependent on oil. The crisis has also affected other markets such as the labor market, the financial market, the raw materials market, among others. These countries have, however, been, to a certain extent, protected from the impacts of the recession thanks to the sound fiscal policies for which these countries are known...