Middle East & Egypt Special Report

As 2023 gets into gear in the Middle East, the coronavirus pandemic is a receding but sobering memory.

The countercyclical dynamics of regional economies mean that there is cautious optimism that 2023 will be a year of recovery, with the Middle East and Africa set for 5.0% growth this year. This will pave the way for a strong decade which will culminate in the completion of Saudi Arabia’s Vision 2030 diversification programme, and significant progress on decarbonisation.

The race among regional ports for market share will intensify. Several regional ports are well placed to continue their journey as major international players, including Jebel Ali, all equipped with the leadership, vision and financing to make gains at an impressive pace.

Data, digitalisation and technology themes are all driving regional development, as spending on infrastructure, particularly logistics, will continue to grow. Saudi Arabia is planning 60 new logistics zones and by 2025 will spend $24.7bn on technology to leverage its geostrategic location to the full.