From BRICS to dwindling oil revenues, 2024 was mixed year for Gulf
The ongoing conflict in Gaza, big international investment deals, low oil revenue and increased curtailing of democratic rights dominated Gulf politics and economy in 2024
DUBAI — As the year 2024 draws to a close, we take a look at major political and economic events across the Gulf states of Saudi Arabia, the United Arab Emirates, Qatar, Oman and Bahrain.
The six states that comprise the Gulf Cooperation Council had a collective gross domestic product of $2 trillion in 2022 and the figure is expected to reach $13 trillion by 2050, according to the World Bank. The countries carry significant political weight and often play key mediating roles in resolving conflicts in the Middle East and globally. Here's a look back at important events that shaped the Gulf states in 2024.
Saudi Arabia
The region's political heavyweight and largest economy with a GDP of over $1 trillion, Saudi Arabia saw a year of significant recalibrations.
