After a challenging decade or so, Bahrain’s economy is now back on a strong footing, with the kingdom’s plans to continue driving non-oil growth in key sectors, such as ﬁntech and tourism, gathering momentum. Nada Alameddine, managing partner at Hodema Consulting Services, analyzes the reforms, partnerships and projects that are supporting the country’s socioeconomic development against a competitive regional backdrop.
Slated to redefine sea sports and leisure THE RIG is set to grace the Arabian Gulf on an offshore platform.
In 2023, the UAE displayed economic resilience amid global challenges, diversifying from oil. The non-oil sector thrived, as reflected in the PMI at 57.0 in November. Oxford Economics estimated a GDP growth of 2.4 percent, which is forecast to double in 2024.
Saudi Arabia’s far-reaching vision to diversify its economy and boost the non-oil sector is delivering extraordinary results, ensuring that the Kingdom remains ﬁrmly in the headlines and on investors’ radars. Nada Alameddine, managing partner at Hodema Consulting Services, charts the latest developments in KSA’s fascinating growth story, which range from giga-project pipelines and an ever-expanding private sector to record tourism revenues.