The forecast comes as high-frequency indicators show continued economic resilience across the region
GCC economic growth
Latest in GCC economic growth
GCC
Strong non-oil growth helps GCC economies thrive as region seeks AI boom and investment in Egypt
GCC countries display strong non-oil growth amid looming uncertainties
GCC economic growth
Competition for FDI will frame the GCC trade and investment landscape in 2024
The GCC always has the power to surprise, confound and intrigue, and expect 2024 to be no different
GCC businesses
GCC 2024: 5 reasons to start a business in the New Year
Choosing to start a business out here is not just a strategic move – it’s a decision to embrace a dynamic and forward-thinking business environment
economic diversification
Growth of the GCC: Who is moving to the Gulf and why?
The GCC is looking very attractive to expats amid global challenges
GCC economic growth
The good, the bad, and the strange
Global growth is stronger than expected, but there is a price attached to it: more monetary tightening in the West. As top-down factors are clearly in the driving seat, most asset classes took note… with nuances.
Arab world
2023: A year when the Arab world will take centre stage
It is easy to see why the GCC countries will strengthen their economic powerhouse status over the next decade
GCC businesses
The Middle East is poised to reap a trade bonanza in 2023
Several trends in the region are driving its importance as a hub for global trade
GCC
GCC Economic and Development Affairs Authority Committee meets in Riyadh on Monday
The current meeting is seen as a step toward achieving the GCC customs union and common market milestones to achieve GCC economic unity
Economic activity
UAE to outpace Saudi Arabia as fastest growing economy in Gulf in 2023: IMF
The projections come as the global economy faces inflationary turbulence
GCC economic growth
HSBC economists forecast 5 percent growth for GCC economy
In its Economist Roadshow in Kuwait City, the bank says Kuwait’s GDP will grow 7.2 percent for 2022, but dip to 2.6 percent next year
Fitch Ratings
Oil-exporting MENA is only region to maintain an improving outlook
Ratings agency Fitch predicts a deterioration in global sovereign credit conditions this year across most of the world
digital economy
GCC countries must develop ‘tech champions’ to compete with US and China
The region’s tech market lags behind other parts of the world says Strategy& Middle East, part of the PwC network
banking
HSBC says Dubai is ideal base to tap into new growth across the region
The bank’s group chairman met recently with Sheikh Maktoum bin Mohammed, Minister of Finance and deputy ruler of Dubai
ESG strategy
GCC regional trade and investment outlook for 2022
ESG is expected to become the major driver of FDI throughout the Middle East in the coming years
GCC economic growth
UAE sees oil rebound boosting economic growth to 4.2% in 2022
Growth in the oil sector’s gross domestic product is set to be at 5 percent this year, an increase from last year’s 2 percent contraction
Boris Johnson
UK starts talks on GCC trade deal in post-Brexit move
Announcement comes as British trade with the GCC was worth about $61bn in 2019