In the coming years, the Middle East and North Africa are expected to be one of the fastest growing regions of the world. According to the Economist Intelligence Unit, over the next quarter of a century, the region's GDP is expected to increase fivefold.
Over the next two years, according to <i>Arab Times</i>, the average real GDP growth will be some 5 percent for the region.
At a recent briefing in Dubai regarding regional growth by the Economist Intelligence Unit, several topics were discussed, including transportation development, the future of oil and gas in the world market, petrochemicals, the establishment of financial centers in the Gulf, as well as the education sectors.
Labor, inflation, and stockmarkets were also discussed at the event, titled the ‘Economic and Business Outlook for the Middle East.’
Chief Energy Analyst and Middle East Senior Economist at the Economist Intelligence Unit, David Butter, told reporters: “The fundamental driver of the region’s growth will be the central importance of the Middle East to the global energy market."
"The Gulf states have also made significant strides in diversifying their economies so that a larger portion of oil and gas surplus revenue is invested within the region,” Butler added.
