GCC Economies: Oil Dependence to Economic Diversification

GCC Economies: Oil Dependence to Economic Diversification

 

RELEASE DATE
23-Nov-2011
REGION
South Asia, Middle East & North Africa
Research Code: 4675-00-05-00-00
SKU: EG00296-SA-DE_02872
$1,500.00
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EG00296-SA-DE_02872
$1,500.00
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Description

The Gulf Co-operation Council (GCC) economies have been heavily dependent on the hydrocarbon sector, which accounts for a large part of their export earnings and government revenue. However, the GCC nations are striving to diversify and reduce the risks that stem from their economic dependence on the oil and gas sectors, which, although lucrative, are vulnerable to price swings. By 2020, the GCC economies are expected to transform into more diversified economies with value additions to the non-hydrocarbon sector. Policy makers are aiming to convert their current tangible oil wealth into intangible human capital. This is expected to mitigate volatility and lead to the development of high value-added diversified sectors.

Table of Contents

Introduction to GCC Economies

Dependence on Hydrocarbons and Associated Challenges

Diversification Scenario

Policy Stance and Development Plans

Structural Reforms to Lead to Increased Investments in the Non-hydrocarbon Sectors

Outlook for Diversification 2020

Related Research
The Gulf Co-operation Council (GCC) economies have been heavily dependent on the hydrocarbon sector, which accounts for a large part of their export earnings and government revenue. However, the GCC nations are striving to diversify and reduce the risks that stem from their economic dependence on the oil and gas sectors, which, although lucrative, are vulnerable to price swings. By 2020, the GCC economies are expected to transform into more diversified economies with value additions to the non-hydrocarbon sector. Policy makers are aiming to convert their current tangible oil wealth into intangible human capital. This is expected to mitigate volatility and lead to the development of high value-added diversified sectors.
More Information
No Index Yes
Podcast No
Industries Energy
WIP Number 4675-00-05-00-00
Is Prebook No