GCC could become the world’s sixth largest economy by 2030

If the GCC were to become one single market, it would be the ninth largest economy in the world today. And if it were able to keep growing, at an annual average of 3.2% for the next 15 years, it could become the sixth largest economy in the world by 2030. That’s all according to the business consulting firm EY, who also reveal that GCC integration could boost the six-nation bloc’s economy by AED 132 billion. However, they do say changes are needed to make this happen, such as removing barriers to trade, increasing foreign investment and developing GCC institutions.

More from Business News