Despite some recent turbulence, Turkey has strong fundamentals that underscore its potential for long-term economic growth. With a young population of 77.7m, a strategic location within four hours’ flying time of 1.5bn consumers and a diversified economy, the country has much to offer investors.
Proposed changes to European Commission (EC) regulations governing the scrapping of ships look set to give Turkey’s ship-breaking and metal-processing industries a significant boost by shutting out rivals in Asia from part of this lucrative trade.
Falling demand and rising competition for feedstock, alongside a national push to bring the price of raw materials closer to market rates, are combining to put pressure on Saudi Arabia’s petrochemicals industry.
Electric vehicles may be set to become a more familiar sight on the streets of Dubai. The emirate has one of the world’s highest car ownership ratios and the authorities are expanding the infrastructure for battery-run cars and introducing new incentives to encourage people to switch to more environmentally-friendly options.
Hydrocarbons revenues, specifically from liquefied natural gas, still form the bulk of Qatar’s national income. However, as the country moves forward with Qatar National Vision 2030 (QNV 2030), the government is increasingly seeking to diversify the economy away from hydrocarbons while investing in renewable solutions to meet the energy demands of the future.
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