Gulf Cooperation Council Economies – Strategic Overview

This event is jointly organized by TRENDS Research & Advisory Center & the Middle East Institute (NUS) 

Abstract

Gulf Cooperation Council (GCC) economies still depend heavily on oil and gas for their income, budgets and social peace. They have all, to varying degrees, embarked on a journey of diversification over the last few years to reduce such dependency and build the foundation for their economies in a post-oil world. Several countries’ visions (SAUDI 2030, UAE 2021) have been created to frame this transformation process and define the priorities for each country. Diversifying the economy and getting ready to compete in a knowledge-driven economy is of paramount importance for these countries as forces of energy transition and development of renewable technologies, in addition to increased environmental conscience, continue to pressure the oil and gas industry.

In this session, the following will be covered:

• Overview of the GCC economies
• Countries’ visions and diversification frameworks
• Current trends and impact on the future of the GCC economies
• Key sectors and opportunities