logo
GCC financial markets' total capitalisation hits $4.2 trillion

GCC financial markets' total capitalisation hits $4.2 trillion

Trade Arabia01-06-2025

The overall composite index of financial markets in the Gulf Cooperation Council (GCC) countries recorded a slight growth of 0.7% in 2024. The index reflects the performance of GCC financial markets as a unified bloc.
By the end of 2024, the total market capitalisation of GCC financial markets stood at approximately $4.2 trillion, according to the latest statistics issued by the GCC Statistical Centre (GCC-Stat).
However, the total market capitalisation witnessed a decline of 4.4% compared to the end of 2023.
In 2024, the market capitalisation of GCC financial markets accounted for around 3.5% of the total global market capitalisation, it added.

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Unicharm: The First Hygiene Company to Celebrate Father's Day in the GCC
Unicharm: The First Hygiene Company to Celebrate Father's Day in the GCC

Syyaha

timean hour ago

  • Syyaha

Unicharm: The First Hygiene Company to Celebrate Father's Day in the GCC

Unicharm achieved a milestone by becoming the first hygiene manufacturer in the Gulf Cooperation Council (GCC) region to officially celebrate Father's Day. This pioneering move not only reflects the company's deep commitment to family values but also highlights the evolving cultural landscape where fathers are increasingly recognized for their essential role in raising the heart of this groundbreaking celebration is BabyJoy, Unicharm's flagship diaper brand, which holds the title of the #1 brand in the GCC. BabyJoy is not only a symbol of superior quality and innovation in baby care, but it also stands out as a brand that understands and supports the emotional journey of parenting. As the official sponsor of this special Father's Day campaign, BabyJoy is bringing dads into the spotlight with a heartwarming campaign's emotional core is amplified by the iconic song 'Ya Tayyib Al-Qalb' by the legendary Saudi artist Abdul Majeed Abdullah. Known for its touching lyrics and deep emotional resonance, the song perfectly captures the spirit of fatherhood – a blend of kindness, strength, and unconditional love. Through this campaign, Unicharm and BabyJoy aim to honor fathers across the GCC who give their all for their families with patience, sacrifice, and joy. By leading this initiative, Unicharm is not only celebrating fathers, but also setting a new standard for corporate social engagement in the hygiene industry. It's a bold and heartfelt gesture that reaffirms Unicharm's role as a brand deeply rooted in the region's values – one that truly understands the meaning of family.

Qatar's Economy to Grow 6.5 Per Cent by 2027
Qatar's Economy to Grow 6.5 Per Cent by 2027

Gulf Insider

time2 days ago

  • Gulf Insider

Qatar's Economy to Grow 6.5 Per Cent by 2027

Qatar's economy is set to accelerate significantly over the next two years, with growth projected to rise from 2.4 per cent in 2025 to an average of 6.5 per cent in 2026–2027, according to the World Bank's Gulf Economic Update. The sharp rise in growth will be driven primarily by the North Field LNG expansion, which is expected to boost Qatar's liquefied natural gas (LNG) output by 40 per cent, transforming the country's hydrocarbon sector performance. While hydrocarbon growth is expected to remain modest at 0.9 per cent in 2025, the World Bank anticipates a major turnaround once the new LNG capacity comes online, cementing Qatar's position as a global energy leader. In parallel, non-hydrocarbon sectors such as education, tourism, and services continue to show strong momentum, supported by infrastructure investment and international partnerships. This diversification effort is central to Qatar's long-term economic vision. Key insights from the World Bank report: Qatar's economic growth: 2.4 per cent in 2025, rising to 6.5 per cent in 2026–2027 2.4 per cent in 2025, rising to 6.5 per cent in 2026–2027 Gulf-wide GDP: Projected to reach 3.2 per cent in 2025 and 4.5 per cent in 2026 Projected to reach 3.2 per cent in 2025 and 4.5 per cent in 2026 Non-oil growth across the GCC: Driven by structural reforms, investment, and private sector activity Driven by structural reforms, investment, and private sector activity 2024 regional growth: Improved to 1.7 per cent, up from just 0.3 per cent in 2023 Despite the upbeat forecast, the World Bank cautioned that global trade tensions and potential economic slowdown remain risks for Gulf economies. To safeguard future prosperity, it urged continued focus on economic diversification, innovation, and youth job creation. Division Director for the GCC countries at the World Bank Safaa El Tayeb El-Kogali said: 'The resilience of GCC countries in navigating global uncertainties while advancing economic diversification underscores their strong commitment to long-term prosperity. 'Strategic fiscal policies, targeted investments, and a strong focus on innovation, entrepreneurship, and job creation for youth are essential to sustaining growth and stability' Also read: Qatar Launches World's Largest 3D-Printed Building Project With Two Futuristic Schools

GCC Tourist Visa Approved, to Be Rolled Out 'soon',
GCC Tourist Visa Approved, to Be Rolled Out 'soon',

Gulf Insider

time5 days ago

  • Gulf Insider

GCC Tourist Visa Approved, to Be Rolled Out 'soon',

The GCC single tourist visa has been approved and will be rolled out soon, said Abdulla bin Touq Al Marri, UAE's Minister of Economy. 'The single (GCC) tourist visa has been approved and waiting now to be implemented, hopefully, soon. Now, it is with the Ministry of Interior and the relevant stakeholders and they should look into it,' Al Marri told Khaleej Times in an interview on the sidelines of the UAE Hospitality Summer Camp press conference on Monday. The Gulf Cooperation Council (GCC) countries have been discussing rolling out a unified tourist visa or GCC Grand Tours Visa for the region, similar to the Schengen tourist visa, over the past few years. This visa will allow foreign tourists to visit all six member states – the UAE, Saudi Arabia, Bahrain, Qatar, Oman and Kuwait – on a single visa. Industry executives believe that the unified visa will be a game-changer for the regional tourism industry and overall economies, creating jobs along with a big boost to GDP. They believe that the much-awaited unified GCC tourist visa will boost 'bleisure' (business-leisure) travel in the region, as visitors will increasingly mix the two to extend their trips to explore the neighbouring countries. According to data released by the Statistical Centre for the Cooperation Council for the Arab Countries of the Gulf, the region welcomed 68.1 million visitors in 2023 and generated a record $110.4 billion in tourism revenue, a remarkable 42.8 per cent increase in tourist arrivals compared to pre-pandemic levels in 2019. The travel and tourism sector's contribution to the UAE economy continues to grow, taking the total employment numbers to 833,000 last year, according to the World Travel and Tourism Council (WTTC). It is estimated that the number of jobs in the UAE's travel and tourism sector will touch one million by 2030, surpassing WTTC's estimates of 928,000 by 2034, with one in 9 residents working in the sector. Dubai, a regional tourism hub, welcomed 7.15 million tourists in the first four months of 2025, representing a 7 per cent growth compared to the same period in 2024, according to the Dubai Department of Economy and Tourism. Also read: Riyadh Air buys 25 Airbus A250-1000 jets at Paris Airshow

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store