Gulf wealth funds propel Middle East deals in 2024
The Gulf region continued its trajectory toward becoming a global investment powerhouse as sovereign wealth funds fed capital into AI, clean energy, entertainment, sports, start-ups and tourism.
Despite economic headwinds from regional conflicts, 2024 was a major year for dealmaking in the Middle East, as Gulf governments strove to meet 2030 targets for diversifying their economies away from oil.
The Gulf region continued its trajectory toward becoming a global investment powerhouse as capital flowed from Gulf states’ deep-pocketed sovereign wealth funds into a number of different sectors.
With Donald Trump’s reelection as US president in November, Middle Eastern political and business leaders foresee a more transactional style of politics from his new administration and expect a series of deals between Washington and Gulf governments, political and business sources told Al-Monitor.
Hafed Al-Ghwell is a senior fellow at the SAIS Foreign Policy Institute. "Most of the Arab governments seem to like Trump. Some Arab governments like him because he is a transactional guy," he told Al-Monitor.
