Unlocking Diversification In The GCC States
- The GCC’s Current Economic Diversification Efforts
- Challenges For Economic Diversification In The GCC
- Centralized PMOs As Enablers Of Economic Diversification In The GCC Region
The Gulf Cooperation Council (GCC) states have the potential to become a new engine of global economic growth. They have the resources, aspiration, and need to tackle the long-term challenge of transitioning to a post-oil era. Laying the groundwork for this transition will take more than an imaginative vision. .
GCC states will need to embrace a new and pragmatic way of conceiving economic diversification concepts and turning them into practical realities. As a result, GCC states are building on international best practices and combining national plans of economic diversification with centralized project management offices (PMOs) in pursuit of realistic outcomes. This can significantly shift the economic landscape in the region and improve the lives of millions of people regionally and globally.
Opportunities abound at any level of economic development: at any level of average GDP per capita, the life expectancy between urban geographies across the world differs 10 to 20 years.
This article examines the evolution of global incentives aimed at attracting investments, highlighting two approaches for changing the current dynamic. While the article primarily addresses avoiding a ‘race to the bottom’ through incentives.
Imagine a world where public policies are drafted with insights generated from millions of data points, synthesized, and analyzed within mere fractions of the traditional timeframe.