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This article also features in Kingdom of Saudi Arabia. Read more about this report and view purchase options in our online store.

Saudi Arabia Economic Research Highlights

How district cooling can contribute to energy and cost efficiency in the GCC and beyond

Suliman Al Khliwi, Managing Director, Saudi Tabreed

In this Global Platform video, Suliman Al Khliwi, Managing Director, Saudi Tabreed, discusses how district cooling can offer numerous advantages over conventional cooling in the GCC...

The Report: Saudi Arabia 2022

Saudi Arabia has undergone significant reforms to foster growth and diversification. While some initiatives were delayed during the Covid-19 pandemic, progress in areas such as the digital economy...

Saudi Arabia’s economy is positioned for growth in the coming years

Oxford Business Group has launched The Report: Saudi Arabia 2022. This Market Profile video highlights how the Kingdom’s diversified approach to economic development is helping to position it as one...

Economic Analysis & Insights 2022-23: Saudi Arabia

Overview

Saudi Arabia’s reform and energy initiatives attract investment
OBG
plus

As the world’s largest oil producer and the only Arab country in the G20, Saudi Arabia is a key geopolitical player on the global stage. Officially established in September 1932 the Kingdom has begun to pour...

Analysis

Saudi Arabia pushing investment in oil and gas to meet global demand
OBG
plus

Saudi Aramco is planning to boost its maximum crude oil production capacity to over 13m barrels per day (bpd) by 2027, up from 12m bpd as of August 2022. This is set to bolster Saudi Arabia’s position in global...

Analysis

Saudi Arabia’s sovereign wealth fund key to diversification
OBG
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A key institution in the enactment of Vision 2030, the Public Investment Fund (PIF) is one of the world’s largest sovereign wealth funds. The PIF became the fifth-largest sovereign wealth fund in the world in...

Viewpoint

Tareq al Sunaid, Head of Tax, KPMG Saudi Arabia: Viewpoint
OBG
plus

On recent developments in tax administration

Analysis

Saudi Arabia entices international companies to establish regional offices
OBG
plus

While Saudi Arabia has long been a key market for many multinational corporations, these have often headquartered themselves elsewhere in the region, with only a secondary presence in the Kingdom...

Viewpoint

Eyad Reda, Managing Partner, Eyad Reda Law Firm: Viewpoint
OBG
plus

On how legal and judicial reform is transforming the Kingdom

Analysis

The changing role of women in Saudi Arabia’s workforce
OBG
plus

Saudi Arabia has traditionally had low rates of female labour force participation, as legislative, social, educational and occupational constraints prevented women from fully taking part in the labour market...

Saudi Arabia’s reform and energy initiatives attract investment
Saudi Arabia pushing investment in oil and gas to meet global demand
Saudi Arabia’s sovereign wealth fund key to diversification
Tareq al Sunaid, Head of Tax, KPMG Saudi Arabia: Viewpoint
Saudi Arabia entices international companies to establish regional offices
Eyad Reda, Managing Partner, Eyad Reda Law Firm: Viewpoint
The changing role of women in Saudi Arabia’s workforce
 

Saudi Arabia: Economic Research & Views

Economic Update

Emerging markets invest in film media to extend their global reach

As audiences return to entertainment in physical venues following the Covid-19 pandemic, several emerging markets are looking to film and media to diversify economic revenue streams and extend...

Economic Update

Gulf countries developing regulatory frameworks for decentralised finance

As GCC countries look to harness new forms of financial technology (fintech) such as blockchain, deepen their financial services and expand financial inclusion, governments are embracing...

Economic Update

Demographic and tech shifts alter the distribution of global talent

As the global economy continues to adapt to ongoing macroeconomic shocks, many countries are looking to boost human capital through training programmes, technology adoption and immigration.

Economic Update

What China’s uneven economic recovery means for emerging markets

After three years of rolling Covid-19 lockdowns and trade disruptions, China posted faster-than-expected GDP growth in the first quarter of 2023, at 4.5% year-on-year (y-o-y), but the uneven nature of its recovery...

Economic Update

The growth trajectory of religious tourism in key markets

With many emerging markets diversifying their tourism offerings, faith-based tourism is set to become a key segment for a number of markets worldwide. An estimated 330m people travel for religious reasons...

Economic Update

How generative AI could transform education in the GCC

As public and private entities across the world weigh how to utilise generative artificial intelligence (AI) technology, GCC countries are embracing the new tool as a way to transform their education sectors.

Economic Update

Emerging markets look to capture a larger share of the aviation market

With global aviation passenger numbers rebounding, emerging markets are looking to capture market share through increased investment and sustainable aviation fuels (SAFs). As OBG reported in...

Economic Update

Gulf countries explore e-sports as part of diversification plans

As Gulf countries implement plans to diversify their economies and create jobs, they are increasingly investing in the growing industry around competitive video games known as electronic sports (e-sports)...

Economic Update

The GCC’s latest efforts to bolster cybersecurity

With global geopolitical instability elevating the threat of cyberattacks against businesses and government agencies, the six countries of the GCC are rapidly building more robust and comprehensive...

CEO Survey Analysis

Global CEO Survey: What is on the horizon for emerging markets?

While the recovery period following the Covid-19 pandemic saw the unlocking of major capital in emerging markets, inflationary pressures, fluctuating commodity prices and geopolitical concerns...

Emerging markets invest in film media to extend their global reach
Gulf countries developing regulatory frameworks for decentralised finance
Demographic and tech shifts alter the distribution of global talent
What China’s uneven economic recovery means for emerging markets
The growth trajectory of religious tourism in key markets
How generative AI could transform education in the GCC
Emerging markets look to capture a larger share of the aviation market
Gulf countries explore e-sports as part of diversification plans
The GCC’s latest efforts to bolster cybersecurity
Global CEO Survey: What is on the horizon for emerging markets?
 

Saudi Arabia ESG Research & Views

Economic Update

Urban areas experiment with cooling technologies to combat climate change

With temperatures in cities set to rise in the coming decades, many public and private players in emerging markets are looking to tackle the challenge of extreme heat through technology, sustainable building techniques and the expansion of urban green spaces. Cities cover just 3% of the Earth’s surface but currently house over half of the world’s population – a figure set to reach 70% by 2050. Urban population growth is predicted to be highest in emerging markets, with 90% of the shift to cities occurring in Asia and...


Economic Update

Emerging markets are targeting a share of the global electric vehicle market

With electric vehicles (EVs) set to proliferate and become more accessible to drivers around the world, several emerging markets are looking to expand their EV manufacturing. Once a luxury segment of the automotive industry, EVs have become popular among consumers and companies alike in recent years, with solid growth trends attracting public and private investment. EV uptake is essential to the global energy transition, as transport remains the sector with the highest reliance on fossil fuels, producing an estimated 37%...


Economic Update

Which markets are pioneering lower-carbon desalination technologies?

Long seen as a high-cost, energy-intensive process, desalination mega-projects are seeking to tap renewable resources to limit the cost and environmental concerns of this crucial technology. In June 2022 ENOWA, the energy, water and hydrogen subsidiary of Saudi Arabia’s NEOM mega-project, signed a memorandum of understanding with French energy company Veolia and Japanese trading company Itochu to develop a reverse osmosis (RO) water desalination facility powered by 100% renewable energy...


Economic Update

What impact will the rise in oil prices have on the energy transition?

Amid an increase in global demand and concerns over key supplies, global oil prices are approaching $100 per barrel for the first time since 2014. But, with prices rising, what does this mean for the renewable energy transition, especially in Gulf countries? After opening the year at around $78 per barrel, Brent crude prices rose sharply over the first six weeks of 2022 to surpass $94 as of February 14, the highest price in more than seven years. Driven primarily by a lack of supply and a recent post-lockdown spike in global demand...


Economic Update

How the UAE and Saudi Arabia are expanding the representation of women in the workplace

More female employees are joining workplaces and boardrooms in the UAE and Saudi Arabia, with gender equality a key target of a regional drive to improve environmental, social and governance (ESG) standards. While measurable progress has been achieved in recent years, there is room for further improvement in order to consolidate these changes into a lasting and broad-based transformation...


Economic Update

What does the future hold for Islamic finance?

After remaining resilient in 2020, the Islamic finance segment is performing strongly this year, as an improved economic environment, a rise in the number of large projects and an increased focus on environmental, social and governance (ESG) factors combine to drive demand. Despite the twin challenges of Covid-19 and the fall in global oil prices, the segment’s assets grew by 10.6% last year, according to global ratings agency S&P. Although this was down on the 17.3% growth rate recorded in 2019, it was nevertheless...


Economic Update

Carbon emissions: How will the Gulf get to net-zero?

As global leaders in politics and business continue to meet in Glasgow to discuss environmental issues as part of UN Climate Change Conference (COP26), some of the world’s most fossil fuel-dependent countries have launched plans to reach net-zero carbon emissions. On October 7 the UAE became the first country in the Gulf to commit to achieving net-zero. At Expo 2020 in Dubai, the government announced that it would aim to reach the target by 2050, in line with major industrialised markets like the EU and the UK...


Economic Update

How emerging markets are navigating the rising cost of solar power

With high energy prices and supply chain disruptions creating shortages of key renewable energy components and materials, emerging markets are reassessing how to build out utility-scale solar power to accelerate their energy transitions. After more than a decade of decline, the cost of solar photovoltaic (PV) panels has risen around the world, due primarily to the increasing cost of solar-grade polysilicon in China. A key component in PV panels, polysilicon spot market prices rose from less than $7 per kg in July 2020 to $39 in...


Economic Update

Is hydrogen the key to the Gulf’s energy transition?

With hydrocarbons-rich countries in the Gulf increasingly looking to reduce their carbon emissions, some in the region are turning towards multi-coloured hydrogen as a more environmentally sustainable solution. Along with renewable sources like solar and wind, hydrogen is seen as a potential low-carbon or zero-carbon fuel that is key to the transition away from fossil fuels. However, it is important to note that there are different types of hydrogen with different impacts on the environment...


Report: How can Saudi Arabia finance sustainable industrial development?

Guided by the Vision 2030 strategy for diversification, rapid advancements are being made in Saudi industry, mining, logistics and renewable energy. As the Kingdom works towards reaching...

ESG Intelligence Reports: KSA & GCC

ESG Intelligence Report

Report: What factors are driving social development in Saudi Arabia?

Vision 2030 includes social development initiatives to empower micro-, small and medium-sized enterprises (MSMEs) and citizens, promote entrepreneurship and widen access to financing...

ESG Intelligence Report

Report: Can heavy industry support Saudi Arabia’s sustainability ambitions?

COP26 has focused the world’s attention on the need for a more sustainable economic model that ensures profits and growth are not achieved at the expense of ecological health and social well-being...

ESG Intelligence Report

ESG Report: How can the benefits of the digital economy be extended to all segments of Saudi society?

Saudi Arabia’s long-term vision for economic advancement and diversification is underpinned by commitments that are aligned with ESG principles, with a focus on easing dependence on fossil...

ESG Intelligence Report

Report: The road to a zero-emission automotive industry in the Middle East and Africa

Automotive stakeholders are increasingly aware that the business-as-usual scenario that has sustained the industry for more than 100 years is no longer tenable. Regulatory changes and emissions-reduction...

ESG Intelligence Report

Report: The future of sustainable finance in Kuwait’s banking sector

The regulatory landscape for Gulf financial service providers is changing, with growing awareness of the need for banking institutions to adopt sustainable finance frameworks and responsible lending...

ESG Intelligence Report

Report: How Qatar is confronting environmental and social challenges

With the publication of its National Environment and Climate Change Strategy in 2021, Qatar has recognised that a proactive and holistic approach is needed to meet the challenge of global warming and...

ESG Intelligence Report

Report: How can sustainable finance support the transformation of hydrocarbons-dependent economies?

With the world economy heading into a complex post-pandemic recovery, GCC governments have outlined a wide-ranging set of environmental targets – and shone a stronger spotlight on sustainability...

Report: What factors are driving social development in Saudi Arabia?
Report: Can heavy industry support Saudi Arabia’s sustainability ambitions?
ESG Report: How can the benefits of the digital economy be extended to all segments of Saudi society?
Report: The road to a zero-emission automotive industry in the Middle East and Africa
Report: The future of sustainable finance in Kuwait’s banking sector
Report: How Qatar is confronting environmental and social challenges
Report: How can sustainable finance support the transformation of hydrocarbons-dependent economies?
 

Education: Shaping Saudi's Future

Economic Impact Assessment

Report: Will e-learning transform tertiary education in Saudi Arabia?

Saudi Arabia’s tertiary education system is underpinned by a strong network of 28 public universities accounting for 81% of student enrolment. However, the ongoing process of economic diversification is contributing to a rise in admission to vocational training institutes and private universities – helping to raise standards across the board and ensure programmes are attuned to market needs. As new economic growth engines emerge, skills development will increasingly be viewed as a lifelong pursuit that is not limited...


Economic Update

How has the pandemic changed university course offerings in the Gulf?

With the current semester winding up, many higher education institutions in the Gulf are already planning an expanded offering of courses for the next academic year – with a focus on supporting the needs of the region’s post-pandemic economy. As OBG detailed earlier this year, the economic fallout of Covid-19 has encouraged higher education institutions in the Gulf to adapt their course offerings to help drive their respective countries’ economic recoveries. The coronavirus pandemic both highlighted and heightened the importance...


Economic Update

Can higher education institutions shape the Gulf’s post-Covid-19 economy?

As Gulf countries look to rebound from the disruption of 2020, higher education institutions are playing a key role in meeting the needs of the region’s post-coronavirus economy. Universities, schools and technical colleges were among the first institutions to innovate following the outbreak of the virus. While many were initially obliged to close, educational institutions quickly adapted to the new situation by making learning materials available online, thus enabling students to continue their studies remotely...


Report: How is the Covid-19 pandemic re-shaping the global oilfield services sector?

The global oil industry had yet to recover from the price crash of 2014-15 by the time the pandemic hit in early 2020, which meant that upstream operators and service providers were already grappling with...

Covid-19 Response & Recovery - KSA

Covid-19 Response Report

Report: What are the post-pandemic prospects for growth in the Saudi food industry?

With a population larger than the other five GCC countries combined, Saudi Arabia accounted for more than 50% of the region’s food imports prior to the pandemic, and 80% of food consumed in the...

Covid-19 Response Report

Report: What does the Covid-19 pandemic mean for Saudi industry?

Saudi Arabia was in the midst of a process of economic diversification when Covid-19 hit, as it sought to develop new non-oil growth engines and stimulate private sector job creation...

Covid-19 Response Report

Report: How did Covid-19 impact aviation ground services in Saudi Arabia?

Saudi Arabia’s strong economic fundamentals allowed it to raise funds from international debt markets and deploy a broad range of fiscal and monetary tools to plug revenue shortfalls and alleviate some of the...

Covid-19 Response Report

Report: Can agri-tech offer sustainable solutions to GCC food security challenges?

Food production in the GCC has long faced obstacles ranging from water scarcity to a lack of arable soil – factors that are being exacerbated by climate change. Prior to Covid-19, imports accounted for 85%...

Covid-19 Recovery Roadmap

Report: What is the post-Covid-19 outlook for GCC chemicals and petrochemicals?

The GCC chemicals and petrochemicals industry demonstrated considerable resilience in the face of Covid-19 and oil price fluctuations. With economic diversification a leading concern for GCC...

Report: What are the post-pandemic prospects for growth in the Saudi food industry?
Report: What does the Covid-19 pandemic mean for Saudi industry?
Report: How did Covid-19 impact aviation ground services in Saudi Arabia?
Report: Can agri-tech offer sustainable solutions to GCC food security challenges?
Report: What is the post-Covid-19 outlook for GCC chemicals and petrochemicals?
 

2021-22 GCC Economic Reports beyond KSA

Market Profile Video

Highlights from The Report: Qatar 2022

Oxford Business Group has now launched The Report: Qatar 2022. This 16th edition of our national macroeconomic analysis shines a spotlight on Qatar’s efforts to leverage its abundant natural gas resources and its status as host of the 2022 FIFA World Cup to develop a diversified, knowledge-based economy. At a time of great disruption in global energy markets, the report focuses on Qatar’s plans to cement its position as a leading player in liquefied natural gas with the North Field Expansion project, which will increase LNG...


Future Readiness Report

Report: Is the Gulf shipping and logistics sector future-ready?

In the wake of a period of severe disruption to global trade, Gulf shipping and logistics companies are adapting to government efforts to boost self-sufficiency in the region, while also investing in corporate digital solutions to improve communication with stakeholders, and predict and mitigate challenges along the supply chain. Looking ahead, shipping and logistics companies face growing sustainability challenges, as the transition to a net-zero economy increasingly focuses on Scope III greenhouse gas emissions in the supply...


Market Profile Video

Highlights from The Report: Bahrain 2022

Elevated oil prices are helping Bahrain rebound from the challenges of the Covid-19 pandemic, and driving an economic expansion that is expected to continue through 2022 and into the coming years. With some $30bn in infrastructure projects in the pipeline, the country is seeking to strengthen its position as a regional logistics destination. The kingdom is also diversifying its economy away from a dependence on hydrocarbons and investing in high-potential areas such as tourism, financial technology, ICT and renewables...


Covid-19 Response Report

Report: Was Oman's banking sector resilient enough to support economic stability during the pandemic?

Oman’s economy was heavily reliant on hydrocarbons when the pandemic began, creating fiscal pressures as demand and prices fell. However, the country was able to rely on a well-capitalised and regulated financial services system to maintain macroeconomic stability, and years of sustained investment in the public health system helped it cope with the sudden demands of a medical crisis. Looking ahead, Oman’s policymakers are considering bold measures to address twin deficits, alongside efforts to accelerate economic...


Market Profile Video

The Report: Sharjah 2021

Oxford Business Group has now launched The Report: Sharjah 2021. This fifth edition of our emirate-specific analysis shines a spotlight on the prospects for investment growth in the emirate as the Covid-19 pandemic subsides. Sharjah’s highly diversified economy and the key part it played in helping the emirate to navigate the challenges of the Covid-19 pandemic are a key area of focus in the report, which was produced in partnership with Invest in Sharjah, the emirate's investment promotion agency...


Covid-19 Response Report

Report: How is the pandemic shaping the future of Abu Dhabi’s health care sector?

Sustained investment and foresighted policy initiatives meant that the UAE and Abu Dhabi had developed a modern and effective public health system prior to the pandemic, supported by a growing number of private operators offering complementary services. When Covid-19 reached the country, SEHA and other health stakeholders were able to scale up testing and treatment capacity rapidly, aided by data-led solutions such as a locally developed test-and-trace application, which warned residents about close contact...


Covid-19 Recovery Roadmap

Report: How can Dubai’s economy bounce back from Covid-19?

Dubai’s diversified and digitalised economy was able to absorb the impact of the Covid-19 pandemic relatively well. The emirate enjoys some of the fastest internet speeds and most advanced broadband infrastructure in the world, which facilitated the rapid shift to online work, education and commerce. Dubai and the broader UAE also benefit from one of the highest Covid-19 vaccination rates to date, with a public programme rolled out from December 2020 and the majority of the population fully inoculated by mid-2021...


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