Oman was already working to diversify its economy, but the pandemic-induced disruption to oil and gas has further underscored the importance of developing a broader economic base to absorb the impacts of international crises and downturns in commodity cycles.
Following the expansion of Chinese-led projects in many emerging markets over the past decade, the G7 has unveiled its own initiative to support global infrastructure development, dubbed Build Back Better World (B3W).
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.
As emerging markets around the world continue their recovery from Covid-19, remittances are playing a key role in supporting the economic rebound.
Bahrain entered the pandemic with the most diversified economy in the GCC, which meant it was not overly susceptible to the sharp drop in the oil market.
Amid a rise in demand for cryptocurrencies, especially in emerging markets, and increased appetite for sustainable finance globally, efforts are under way to develop a so-called green Bitcoin – that is, an ecologically sustainable cryptocurrency.
Stay updated on how some of the world’s most promising markets are being affected by the Covid-19 pandemic, and what actions governments and private businesses are taking to mitigate challenges and ensure their long-term growth story continues.
Register now and also receive a complimentary 2-month licence to the OBG Research Terminal.
Register Here×