1. Market Research
  2. > Leisure
  3. > Sports Market Trends
Gulf Cooperation Council (GCC) Region Mega Trends, Forecast to 2030

Gulf Cooperation Council (GCC) Region Mega Trends, Forecast to 2030

  • July 2020
  • 139 pages
  • ID: 5948434
  • Format: PDF
  • Frost & Sullivan

Summary

Table of Contents

Economic growth will strengthen in the GCC region despite oil-price complications, mainly due to the economic diversion from the oil sector to non-oil sectors and also due to initiatives and strategies to encourage private enterprises.Apart from robust economic growth, the business environment of the region will also undergo a radical change due to the emergence of new business models.

These new business models will emerge due to the digital transformation of industries as well as other social and political changes.Social heterogeneity, which is identified by the differences in income, ethnicity, gender, and age, will exaggerate in this region.

This will have a far-reaching impact on business models, economic trends, and also social dynamics.This increasing social diversity will lead to the advent of distinct generational groups such as Gen Y and Gen Z.

Rising participation of women in the workforce and the growing affluent class will also have a huge impact on the economic and business environment of the region. Diverse attitudes, motivations, and beliefs among these groups will compel businesses to focus on products and services that are personalized to suit the unique demands of each group. Advancement in technologies like 5G, augmented reality (AR), virtual reality (VR), and AI will make way for new business models in this region. In the last decade, the GCC region endured major economic transformation, with the aim to diversify its economy away from the hydrocarbon sector. In the coming decade it is expected that technology will play a very significant role in further transformation of the economy from an oil-dominant to a digital society. Digital transformation in sectors such as retail, energy, manufacturing, healthcare, and entertainment will help in the growth of the non-oil economy in the region.
• Connected Living: Internet is expected to account for 5% of national GDP by 2030 up from 4.1% in 2018. All six markets are expected to launch 5G mobile services by the end of 2020. Hence, several digital initiatives to improve city governance to citizen’s lifestyle will be the highlight of the region.
• Fintech Revolution: There are more than 250 fintech start-ups in the GCC region across a population of close to 400 million. Regional fintech initiatives will expand fintech activities by 50% in the next 5 years.
• Online Retail: The GCC retail sector is expected to grow to $405 billion by 2030, with the UAE and Saudi Arabia leading retail sales in the next 5 years, accounting for 77% of total GCC sales. Physical stores will continue to dominate, but online retailing and business-to-business (B2B) marketplaces are also growing.Socioeconomic trends such as Gen Z growing as a future consumer base, rising GCC affluence, and growing participation of women in work will create future opportunities for this region.
• Gen Z: Gen Z is expected to account for nearly 1/4th of GCC’s population and thus, is a significant influencer on the consumer base. Gen Z will create equal opportunities for even lesser known brands as long as the value proposition is experienced.
• Growing population of millionaires in GCC: UAE is expected to witness 60% growth in the number of ultra-high net worth individuals (UHNWI) from 2019 to 2030, thus, opening opportunities for numerous luxury products and services markets.
• Participation of women in the workforce: By 2030, participation of women in the workforce is likely to cross 50% in most GCC countries, with it reaching 25% in KSA and 31% in Oman. This is expected to add $90 billion to KSA’s economy alone.Non-oil sectors such as education, mega event projects, and renewable energy will also create future investment and business opportunities in the region.
• Future of education: Opportunities are abundant in K-12 and tertiary and vocational education. Increasing preference for natives in employment is generating a huge demand for skillset training.
• Sporting events: The GCC sport event industry is expected to witness 8% to 10% growth till 2030. This will require the development of sports complexes and sports facilities. The demand for hotels will get a boost as sports tourists visit the region.
• Renewable energy: Cumulative installed generation capacity for renewable energy across GCC is expected to reach 72,300 MW by 2030.In the next decade, GCC ’s non-oil sectors will continue to dominate the economy. Increased digital penetration, advanced technologies such as 5G, artificial intelligence, robotics, and AR/VR lead to the emergence of Mega Themes that will have a far-reaching impact on the region and create future opportunities for this region.

Get Industry Insights. Simply.

  • Latest reports & slideshows with insights from top research analysts
  • 150+ Million searchable statistics with tables, figures & datasets
  • More than 25,000 trusted sources
  • Single User License — provides access to the report by one individual.
  • Department License — allows you to share the report with up to 5 users
  • Site License — allows the report to be shared amongst all employees in a defined country
  • Corporate License — allows for complete access, globally.

ReportLinker may already be registered as a supplier with your company. If you want to Order by PO, check with us first and we'll let you know if we are a registered supplier and what the vendor number is. Otherwise, we'll provide you with the necessary information to register ReportLinker as a vendor.

Ahmad helps you find the right report:
Testimonials

The research specialist advised us on the best content for our needs and provided a great report and follow-up, thanks very much we shall look at ReportLinker in the future.

Kate Merrick

Global Marketing Manager at
Eurotherm by Schneider Electric

We were impressed with the support that ReportLinker’s research specialists’ team provided. The report we purchased was useful and provided exactly what we want.

Category Manager at
Ikea

ReportLinker gave access to reliable and useful data while avoiding dispersing resources and spending too much time on unnecessary research.

Executive Director at
PwC Advisory

The customer service was fast, responsive, and 100% professional in all my dealings (...) If we have more research needs, I'll certainly prioritize working with ReportLinker!

Scott Griffith

Vice President Marketing at
Maurice Sporting Goods

The research specialist provided prompt, helpful instructions for accessing ReportLinker's product. He also followed up to make sure everything went smoothly and to ensure an easy transition to the next stage of my research

Jessica P Huffman

Research Associate at
American Transportation Research Institute

Excellent customer service. Very responsive and fast.

Director, Corporate Strategy at
Ingredion

I reached out to ReportLinker for a detailed market study on the Air Treatment industry. The quality of the report, the research specialist’s willingness to solve my queries exceeded my expectations. I would definitely recommend ReportLinker for in-depth industry information.

Mariana Mendoza

Global Platform Senior Manager at
Whirlpool Corporation

Thanks! I like what you've provided and will certainly come back if I need to do further research works.

Bee Hin Png

CEO at
LDR Pte Ltd

The research specialist advised us on the best content for our needs and provided a great report and follow-up, thanks very much we shall look at ReportLinker in the future.

Kate Merrick

Global Marketing Manager at
Eurotherm by Schneider Electric

FAQ
  • How we can help
    • I am not sure if the report I am interested in will fulfill my needs. Can you help me?
    • Yes, of course. You can call us at +33(0) 4 37 65 17 03 or drop us an email at [email protected] to let us know more about your requirements.
    • We buy reports often - can ReportLinker get me any benefits?
    • Yes. Set up a call with a Senior Research Advisor to learn more - [email protected] or +33(0) 4 37 65 17 03.
    • I have had negative experiences with market research reports before. How can you avoid this from happening again?
    • We advise all clients to read the TOC and Summary and list your questions so that we can get more insight for you before you make any purchase decision. A research advisor will accompany you so that you can compare samples and reports from different sources, and choose the study that is right for you.

  • Report Delivery
    • How and when I will receive my Report?
    • Most reports are delivered right away in a pdf format, while others are accessed via a secure link and access codes. Do note that sometimes reports are sent within a 12 hour period, depending on the time zones. However, you can contact us to escalate this. Should you need a hard copy, you can check if this option is offered for the particular report, and pay the related fees.
  • Payment conditions
    • What payment methods do you accept?
      1. Credit card : VISA, American Express, Mastercard, or
      2. You can download an invoice to pay by wire transfer, check, or via a Purchase Order from your company, or
      3. You can pay via a Check made out in US Dollars, Euros, or British Pounds for the full amount made payable to ReportLinker
    • What are ReportLinker’s Payment Terms?
    • All payments must normally be submitted within 30 days. However, you can let us know if you need extended time.
    • Are Taxes and duties included?
    • All companies based in France must pay a 20% tax per report. The same applies to all individuals based in the EU. All EU companies must supply their VAT number when purchasing to avoid this charge.
    • I’m not satisfied. Can I be refunded?
    • No. Once your order has been processed and the publisher has received a notification to send you the report, we cannot issue any refund or cancel any order. As these are not ‘traditional’ products that can be returned, reports that are dispatched are considered to be ‘consumed’.
  • User license
    • The license that you should acquire depends on the number of persons that need to access the report. This can range from Single User (only one person will have the right to read or access the report), or Department License (up to 5 persons), to Site License (a group of persons based in the same company location), or Corporate License (the entire company personnel based worldwide). However, as publishers have different terms and conditions, we can look into this for you.

ref:plp2020

Reportlinker.com © Copyright 2022. All rights reserved.

ReportLinker simplifies how Analysts and Decision Makers get industry data for their business.

Make sure you don’t miss any news and follow us on