Today, 70 years since the discovery of oil at the Bab-2 well in Abu Dhabi heralded a new era for the Gulf region, the global landscape is marred by sluggish GDP growth and looming recession risks.
But the Arab world’s ‘Big Three’ economies — the UAE, the Kingdom of Saudi Arabia and Egypt — are bucking the global trend, successfully diversifying their economies and carving a leadership role in the new global economy.
These economies represent the fastest-growing economic bloc in the world. Saudi Arabia is the first trillion-dollar economy in MENA and the UAE has delivered record non-oil growth. Egypt, for its part, is achieving a positive trajectory despite recent compounding and challenging headwinds... more
(weforum)