Investment in green and sustainable projects could boost GCC economy to US$13 trillion by 2050, Gulf Investment Report 2023 says
Published by Century International Holdings Ltd, Gulf Investment Report 2023 is a comprehensive research put together to help investors to chart their strategy for future growth
Date : Dubai, UAE, October 18, 2023
News Highlights
- The Gross Domestic Product (GDP) of the Gulf countries could more than double to US$13 trillion, up from a projected US$6 trillion by 2050, if the countries embrace a green growth strategy;
- The UAE has invested more than US$40 billion in clean energy over the last 15 years, and has plans to invest an additional US$163.5 billion (Dh600 billion) in clean and renewable energy sources over the next three decades on the road to net zero;
- Total FDI flow into the GCC region declined 17.91 percent to US$37.12 billion in 2022, down from US$45.22 billion recorded in 2021, despite the UAE recording a 10 percent increase in FDI from US$20.66 billion in 2021 to US$22.73 billion in 2022, according to the World Investment Report 2023;
- GCC region’s inward FDI stock rose to US$529.78 billion at the end of 2022. This is at the backdrop of a 12 percent decline in global FDI flow to US$1.3 trillion in 2022;
UAE News 24/7 