Transport upgrades are leading construction industry growth in Qatar, following rapid expansion and billions of dollars worth of new contracts awarded in recent years. The 2022 FIFA World Cup has created an impetus to finish a number of critical transport projects on time, including thousands of kilometers of road and expressway upgrades and construction, the new Hamad Port and a major three-...
The Middle East Transport
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With the fall in oil prices underlining the dangers of an over reliance on hydrocarbons revenues, Qatar has continued to forge ahead with its economic diversification drive in 2016. Non-hydrocarbons growth now outstrips hydrocarbons growth, with several big-ticket construction projects, an increasingly dynamic financial services sector and a growing reputation as a tourist destination all fuelling non-oil expansion.
Abu Dhabi’s transport and logistics industry has been growing rapidly in recent years, with 2014 being an encouraging year in this respect. The transport and storage sector’s total GDP contribution stood at Dh40.5bn ($11.02bn) for 2014, equivalent to 4.3% of the emirate’s GDP, up from 3.7% in 2013 and 3.3% in 2010. The emirate has seen air traffic grow rapidly from 169,931 aircraft movements...
Thanks to business-friendly government policies implemented over the past 10 years Abu Dhabi is now home to a rapidly diversifying economy that is among the largest in the region, with GDP reaching a total of Dh952.68bn ($259.32bn) at current prices in 2014.
Bahrain’s transport sector is gearing up for expansion in both the short and medium term, with GCC funds being used to complete upgrades to the road network and airport facilities. The government is also investing in infrastructure improvements and new public transport initiatives. The Ministry of Works has invested $485m in road network upgrades, which include the remodeling of junctions,...
Low oil prices will undoubtedly continue to be a significant challenge for Bahrain in 2016. However the kingdom’s early moves to diversify its economy mean the country is well placed to weather the storm and non-oil segments are expected to continue performing well in 2016.