Context The global financial crisis experienced in 2007/2008 affected many nations of the world. Some countries like America and most European countries were hit hard as they were directly affected by the crisis. Other countries, especially those in Asia and Africa, were not negatively affected as they were not directly affected by the crisis. This crisis began in the United States after the bursting of the real estate bubble. Although the bursting of the housing bubble was the main cause of the crisis, there were a series of events that preceded it. An event that indirectly contributed to this crisis was the Russian debt crisis and the Asian financial crisis that took place in 1997. /1998. These two events led many investors to divert their financial investments to other countries that seemed apparently stable. One of these countries was the United States. The inflow of foreign funds has increased liquidity in most financial institutions. This has prompted financial institutions to institute friendly credit conditions so as to encourage borrowers to take loans. Due to easy access to loans, many consumers became burdened with debt, and consumption at that time was largely based on credit money. With greater access to loans, the cost of housing began to rise. This has attracted many investors into real estate. Many prospective homeowners have also applied for loans to build their own homes. Most financial institutions have entered into financial arrangements such as mortgage-backed securities to help people own a home (Mayes, 2009). After some time, house prices began to fall. The rate at which their prices fell was so high that in a very short period their value was well below the value of mortgages. Much effort will be made to contact the respondents and shed light on the study questions before the questionnaires are given to them. This will undoubtedly create an environment of respect and mutual understanding between the two parties. Conclusion The Gulf area is one of the many regions of the world that were indirectly affected by the global financial crisis of 2007/2008. Even though this crisis occurred in the United States, its ripple effect has affected many countries. The crisis resulted in a drastic drop in global oil prices and these nations were negatively affected as their economies were dependent on oil. The crisis also affected other markets such as the labor market, the financial market, the raw materials market, among others. However, these countries have been somewhat cushioned from the impacts of the recession thanks to the sound fiscal policies for which they are known..