Gulf Cooperation Council and Africa's Economic Diversification and Emerging Non-Oil Growth Opportunities

Gulf Cooperation Council and Africa's Economic Diversification and Emerging Non-Oil Growth Opportunities

Green Energy Transition, Manufacturing Localization, and an Innovation-driven Digital Economy to Stimulate the Non-Oil Economy through 2030

During the past decade, policy tied to diversification into the non-oil economy has taken center stage as GCC and African oil and gas exporters prioritize expansion of the non-oil economies through their long-term vision plans. Despite challenging global economic conditions, several GCC and African countries are accelerating their pace of economic diversification by undertaking an amalgamation of socioeconomic, business, trade, and technological initiatives. These are indicative of the regions’ long-term growth prospects across industries, including infrastructure, green energy, logistics, and tourism. Structural reforms and transformative shifts will also help to build economic resilience and contribute toward the growth of these economies in a post-hydrocarbon future.

This macroeconomic thought leadership provides megatrends and thematic analysis for diversification trajectories of key GCC and African economies such as Bahrain, Saudi Arabia, Kuwait, Oman, the United Arab Emirates, Angola, Algeria, Egypt, Gabon, Ghana, Nigeria, and the Republic of Congo. Decision-makers can utilize country-specific insights about the evolution of megatrends related to diversification away from oil and identify industries that are emerging as investment hotspots in the non-oil sectors.

KEY FEATURES

Key topic areas covered in this research include the following:

Future beyond oil: GCC & Africa
Megatrends shaping the beyond-oil diversification movement
Vision plans supporting a diversification agenda
Focus areas emerging from diversification