Skip to main content

Oil leaves invisible footprint on Gulf's non-oil economies

Touted progress in diversifying Gulf economies beyond the fossil fuel rent comes with a caveat. Oil and gas revenues indirectly propel large chunks of the non-oil economy through public expenditures such as wages, subsidies and infrastructure spending.

Dubai economy
This picture shows cranes on a construction site with a backdrop of the Dubai skyline, including Burj Khalifa, the world's tallest building, on May 23, 2023. — GIUSEPPE CACACE/AFP via Getty Images

Subscribe for unlimited access

All news, events, memos, reports, and analysis, and access all 10 of our newsletters. Learn more

$14 monthly or $100 annually ($8.33/month)
OR

Continue reading this article for free

Access 1 free article per month when you sign up. Learn more.

By signing up, you agree to Al-Monitor’s Terms and Conditions and Privacy Policy. Already have an account? Log in