The countries in the GCC region have largely been dependent on oil-related sectors for their economic growth. However, the recent decline in oil prices have forced the countries in this region to decrease their dependence on oil. As a result, the governments of the GCC countries are increasing investment in diversification, switching focus from public to private sector, improving banking system liquidity and solvency as well as developing a better environment for SMEs. These initiatives are expected to create beneficial business opportunities for investors and boost the region’s economic growth.
At Syndicated Analytics, we stay conversant with the latest market developments in the GCC region, so as to aid our clients in formulating informed business tactics.
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