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Gulf in 2020

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The GCC in 2020 Outlook for the Gulf and the Global Economy
A report from the Economist Intelligence Unit Sponsored by the Qatar Financial Centre Authority

The GCC in 2020: Outlook for the Gulf and the Global Economy

About this research


he GCC in 2020: Outlook for the Gulf and the Global Economy is a white paper written by the Economist Intelligence Unit and sponsored by the Qatar Financial Centre (QFC) Authority. The findings and views expressed in this briefing paper do not necessarily reflect the views of the QFC Authority, which has sponsored this publication in the interest of promoting informed debate. The Economist Intelligence Unit bears sole responsibility for the content of the report. The author was Jane Kinninmont and the editor was Rob Mitchell. The findings are based on two main strands of research: l A programme of in-depth analysis, conducted by the Economist Intelligence Unit, which drew on its own long-term forecasts and projections for the six GCC economies, along with other published sources of information. l A series of interviews in which economists, academics, and leading experts in the development of the GCC were invited to give their views. In some cases, interviewees have chosen to remain anonymous. Our sincere thanks go to all the interviewees for sharing their insights on this topic. March 2009

© The Economist Intelligence Unit Limited 2009

The GCC in 2020: Outlook for the Gulf and the Global Economy

Executive summary


ver the past ten to 12 years, the Gulf Co-operation Council (GCC) region, which comprises Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates, has undergone rapid economic, demographic and social changes. Since 1998, the GCC’s real GDP has expanded by an annual average of 5.2% and by a cumulative total of 65%. Meanwhile, the population has risen from just over 28m in...

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