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Market Insights on GCC Industry Themes and Trends
Saudi Arabia construction industry review 2023
Saudi Arabia has become a major player in the global construction industry, offering investors lucrative opportunities to capitalize on its big infrastructure projects. As one of the largest and most diversified construction markets in the region, Saudi Arabian authorities have invested heavily into different building ventures over recent years.
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GCC Macroeconomic Indicators
The International Monetary Fund (IMF), in its World Economic Outlook for April 2022, projected that among the six GCC countries; Kuwait is predicted to have the highest GDP growth in 2022, at 8.2%, followed by Saudi Arabia (KSA) (7.6%). Oman at 5.6% is third, and is above the UAE (4.2%), Qatar (3.4%) and Bahrain (3.3%). Following several years of having fiscal deficits, the GCC countries will rebuild their buffers in 2022.
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GCC Oil And Gas Market
The oil and gas sector will continue to remain an important and significant part of each of the GCC country’s agenda as it is central to the supply of energy in the coming decades. The GCC oil and gas construction market is expected to fare much better in 2022 and 2023 and GCC countries will also continue to increase their oil production capacity in a bid to secure a bigger share of a shrinking oil market post-2050.
*Please note this is a sample report
GCC Power And Water Market
The power and water sector continues to be the pillar of growth for the GCC economies as their demand continues to grow at a fast pace due to a rise in population. Currently, as the pandemic eases with the introduction of the vaccine, and mobility increases, there is a rebound in economic activity. As the GCC governments attend to huge financing needs due to the Covid-19 pandemic, the private sector is expected to play a heightened role in meeting the increased demand in power and water.
*Please note this is a sample report
GCC Hotel And Entertainment Market
Billions of dollars are also being spent across the entire GCC as the countries, and the pipeline of new hotels in the GCC shows no sign of slowing down. The race continues in setting up tourism infrastructure such as hotels and resorts, entertainment parks or new adventure activities. New hotel developments in prime tourism destinations in many parts of the GCC countries, notably KSA, Qatar, Oman and the UAE, remains substantial even by global standards.
*Please note this is a sample report
GCC Healthcare Market
The healthcare sector is emerging quickly as a priority for GCC countries who are working hard to diversify their economies away from a reliance on oil production. The healthcare sector has undergone a radical shift from curative to preventive care in the wake of the Covid-19 pandemic and this has resulted in the GCC countries encouraging the private sector to share the load in boosting the number of healthcare centres.
*Please note this is a sample report
Real time market insights and leading GCC Powers of Construction
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