With oil prices at sustained high levels and the government pushing ahead with a large-scale investment programme to upgrade infrastructure, address social issues and further diversification, Saudi Arabia’s economy is thriving.
The Middle East Transport
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The Kingdom strengthened its role as a hub for trans-shipment services in the Northern Gulf markets last year, buoyed by Saudi Arabia’s growing market. However, while the expansion of these services spells good news, rising demand has also produced challenges.
While hydrocarbons continue to make up the lion’s share of the emirate’s GDP, oil revenues are supporting long-term efforts to diversify the economy. Oil and gas accounts for about 52% of real GDP, down on previous years, followed by construction, manufacturing and real estate. High-quality transport infrastructure, meanwhile, is boosting trade activity and free zones in Abu Dhabi.
As it continues to develop and diversify its economy, transport is playing a central role in the long-term development of Abu Dhabi. Transport and storage contributed approximately Dh20.62bn ($5.6bn) to the emirate’s economy in 2011, or 2.6% of GDP. Aviation in particular is expanding rapidly; the UAE is set to invest $19bn on new aviation infrastructure as it positions itself as a regional...
Articles & Analysis | Spreading its wings: Higher passenger numbers lead to expansion plans and a new airport from The Report: Dubai 2013
For much of recent history, the emirate’s position has made it a hub for air travel. The city’s aviation history stretches as far back as 1937, when Dubai reached an agreement with the British government allowing Imperial Airways to land flying boats on the Dubai Creek in between buoys. The British carrier used the location for important flight...
Interviews & Viewpoints | OBG talks to Jamal bin Thaniah, Vice-Chairman, DP World from The Report: Dubai 2013
To what extent is there an oversupply of capacity within the GCC given the amount of investment in either new or upgraded port facilities?