CEO AST Aviation || International PR & Investment Networking🌏✈️🏦 || COO The Alpha’s Digital || M.D Pixellence Digital USA
In recent decades, the Gulf region has emerged as a major economic power, influencing the global economy through its vast natural resources, strategic investments, and ambitious visions for a diversified future. The volume of trade between the Kingdom of Saudi Arabia and the other Gulf Cooperation Council (GCC) countries grew by an estimated 13% from the same period a year earlier. Trade value increased about SAR6,363 billion, reaching SAR55,583 billion in the fourth quarter of 2023, compared to SAR49,219 billion in the same period of the previous year. Bahrain came in second place with a value of SAR2,295 billion, representing 11.04% of the total. Kuwait was third with a value of SAR1,819 billion, representing 8.8% of the total. Qatar came fourth with a value of SAR1,447 billion, representing 7% of the total, while Oman ranked fifth with a value of SAR1,234 billion, representing 6% of the total. While the world once viewed the Gulf primarily as a source of oil, today it stands as an economic hub ready to impact sectors ranging from tourism to technology. This transformation is not only redefining the economic trajectory of the region but is also positioning it as a key player in the global economy.
