Economic Growth Beyond Oil
in Gulf Cooperation Council (GCC)
Forces beyond GCC’s control are creating new pressures on its decision making. In the past, global oil prices propelled economic growth. Now, as those prices plateau, the rapidly growing populations of the GCC nations bring expectations of continuous economic growth and upward mobility.
Booz Allen Hamilton recently commissioned an in-depth study with the Economist Intelligence Unit (EIU) in order to better understand the challenges posed by the current employment structure and corresponding fiscal realities in UAE, Qatar, Saudi Arabia, and Oman. From it, Booz Allen Hamilton contends the opportunity for growth and prosperity of the GCC countries still outweighs the likelihood of deficit forecasted in the study’s findings. To help GCC nations achieve that growth, Booz Allen has shared recommendations that can start to inform a roadmap by leveraging global best practices adapted for the GCC’s unique strengths and opportunities.
To review the full details of the study or discuss further, please contact us at [email protected].
In a report released February 17, 2014, Booz Allen Hamilton examines how Gulf Cooperation Council (GCC) stakeholders can work together to rein in government deficits, accelerate private sector employment, and create a national workforce suited for success in the global economy. Read More
Booz Allen Hamilton Senior Associate, Al Zeitoun, responds to the EIU study identifying promising opportunities for economic diversification and private-sector growth.