Saudi Arabia and UAE top wealth contenders in the MENA region
The global wealth index indicates a 6.4 percent growth in the year 2017. The Kingdom of Saudi Arabia (KSA) and the United Arab Emirates (UAE) have secured the first and second place respectively in the region of Middle East as per the report of Credit Suisse Research Institute’s 2017 Global Wealth.
Asia slowly regaining its place as an export powerhouse
Asia is gradually recovering its position in exports of late as there are likely returns which contributed to the real growth of GDP in Q1 and Q2. The Asian countries of China, India, Indonesia, and Malaysia have faced troubled waters and are now slowly recovering with a growing export volume and raise at the prices of commodities.
GCC is all set for growth acceleration in 2018
According to a report,the region of GCC is all set for an augmented growth in 2018. This development comes after the turbulent years of low oil prices and the severe measures of the Government. The Global Advisory Firm Oxford Economics released a 2018 forecast where it is predicted that the six members of the GCC will witness a growth of 2.7% as opposed to the mere 0.3% in 2017.
Growth of GCC is projected at 2.8%
The GDP of the GCC will be in an accelerated position and will jump from 0.3% to 2.8% in 2018, and the more extensive the MiddleEast will rise from 3.2% to 1.4% according to a new report of the region.