The cons are that writing anywhere in the world is becoming increasingly less respected as a worthwhile occupation. There is an overwhelming belief that having the ability to write makes you automatically a writer, however, this is not the case. This can make it difficult to find employment, or to find employment with a decent salary, as generally writing is an undervalued skill that people are not necessarily willing to shell out the big bucks for.
One of the biggest cons of being an English writer in this region in particular is that there are many different nationalities present, and each of them have, to some degree, been educated to believe that a different version of English is 'correct'; these cultural clashes can lead to a lot of editorial discord.
A pro is the abundance of media houses in the region. There are a wide variety of magazines published across the Middle East, and when the market is doing especially well there are a good number of career options available. During economic downtimes such as we're experiencing at present, though, there is a lot of competition for very few jobs.