Research Briefing | Oct 1, 2021

MENA | Higher oil income to propel GCC diversification efforts

Higher oil income to propel GCC diversification efforts

The GCC recovery built momentum in Q3, thanks to vaccine progress, easing of health restrictions, and higher oil output. However, the bloc’s GDP will only
reach its pre-pandemic level in Q1 2022, lagging other EM regions.

What you will learn:

  • Although footfall is the most visible and easy to measure sign of success, other benefits that are harder to visualize will accrue over a number of years. For instance, infrastructure built for the Expo will continue to benefit the economy, especially if the site can be successfully regenerated.
  • A successful Expo will also help market Dubai as a place to live, work, and invest.
  • With new Covid-19 cases edging down and vaccination rates rising, Qatar will ease remaining public health restrictions on October 3 under the final phase of its plan, which should support domestic activity over the rest of the year.

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