GCC: Next generation digitalisation
The COVID-19 pandemic has catalysed diversification throughout the GCC on an unprecedented scale. This is an extremely welcome development. Indeed, COVID-19 has exposed the region’s digital laggards, prompting governments to place digitalisation at the core of their national strategies as a means of survival. This is key for long-term growth and attracting investment. This week, we look at the how the GCC is navigating the digital transformation honing in on how:
- Financial technology (fintech) is among the catalysts of digital transformation. Going forward, it is expected to remain above pre-pandemic levels, building on the boost it received last year.
- GCC countries are in pole position when it comes to adopting 5G networks. The competitive advantage in terms of strong frequency is already enticing foreign telecom operators to join the party.
- Opportunities are set to multiply going forward. We highlight some of these trends.
Florence Eid-Oakden, Ph.D, Chief Economist
Ghalia Bajali, Dana Salman, Analysts
The Regional Views series are thematic papers aimed at identifying and analysing factors behind medium to long-term economic trends shaping the region. Our analysis draws conclusions that help businesses and investors get ahead of the curve. As a firm staffed by Middle Easterners, we focus on insight rather than standard analysis.
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