Gulf telecom market estimated at $900m
Recent estimates, publicized in a report by the Gulf Organization for Industrial Consulting, reveal the great potential that lies in investment opportunities in the telecommunication sector of the Arab Gulf states.
According to the report, it is estimated that in 1999 the total investments in the Gulf telecom sector totaled $900 million. The report further predicts that these investments will rise as high as $1 billion by the end of 2000.
The turnover of the Gulf telecom sector is assessed by the report at $7 billion annually, with an annual growth rate of between 7 and 10 percent. The value of the telecom market in Saudi Arabia is estimated at $3.29 billion, $1.62 billion at the UAE market, $330 million in Bahrain, $528 million in the sultanate of Oman and $769 million in the state of Qatar. — (Albawaba-MEBG)