The GCC – Some Key Aspects

1. 1. Oil &Gas still plays a role, but diminishing: Fossil fuels still play a significant role in contributing to the national budgets of the GCC countries. However, this is on a diminishing trend
   2. Diversification: As oil plays a lesser role, other key sectors are emerging, e.g. air transport, logistics and tourism. The emerging dominance of the gulf carriers is a key pointer in that direction.
   3. The rise of Islamic economy: There is a continued deepening of key aspects such as the Islamic finance, the halal food industry among others within the region.
   4. Emergence in the global economy: From points 2 and 3 above, the region is repositioning itself within the global economy & capital flows

Multiculturalism: The region is rich in culture