Research Briefing | Jan 31, 2022

Middle Eastern Cities: The long-term outlook

Ipad Frame - Middle Eastern Cities-The long-term outlook

In 2021, there were 16 Urban Economic Powerhouses in the world (cities with GDP greater than $500bn), but none were located in the Middle East. By 2040, another 47 Powerhouses will have emerged, and three of these will have risen in the Middle East—Tehran, Dammam, and Tel Aviv.

What you will learn:

  • As with all major cities, the coronavirus pandemic significantly altered the path of growth for many Middle Eastern cities.
  • In 2021, all cities except Beirut established a strong start to their economic recovery, with more than half of major cities already above pre-pandemic levels.
  • As the recovery takes shape, all sectors will have returned to pre-pandemic levels by the end of 2022, with consumers unlocking a significant amount of unspent savings, and tourists returning in more significant numbers during 2022.
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