The Middle East remains a divided region despite boasting some of the largest oil reserves in the world. As per the International Monetary Fund (IFM), the Middle East and North Africa has experienced real GDP growth of 4.1% overall in 2021 and expected to increase by 1.2% by the end of 2022.
Bahrain, Iraq, Iran, Israel, Kuwait, Saudi Arabia, Yemen, the United Arab Emirates., and Syria, had different rates of economic growth. That being said, below are some of the tops sectors you should invest in the Middle East.
Infrastructure
Among the main forces behind the Middle East economy is its infrastructure. Countries in the Middle East are placing a lot of emphasis on this sector’s development and, as a result, are spending a lot of money on renewable energy, urban transportation, and road maintenance.
In the event that you have knowledge about infrastructure and want to do an investment then UAE is the best place to look. After all, it UAE offers numerous opportunities for expansion and establishment.
Cyber Security
There is no denying that the concern over cyber security has spread to all businesses and even nations due to the possibility of their vital data being compromised. According to IBM, over the previous year, the average costs of a data breach climbed from USD 3.86 million to USD 4.24 million.
Moreover, complex cybersecurity and data protection toolkits are widely sought after to be replaced by a single unified interface by 71% of Saudi and 70% of Emirati businesses, respectively. Consequently, starting a business in this industry has never been more profitable or in demand than it is now.
Metaverse
We have reached the most vital point now that the metaverse has permeated the real world and has established a significant presence in the commercial markets. For this reason, most multinational corporations have entered this market, more so in the Gulf.
The above are merely some of the sectors you should think about when you want to invest in the Middle East. Ensure you look into other notable sectors before deciding on anything.
