Kito de Boer: Beyond oil – Reappraising the Gulf States

We believe that the leaders of the Gulf Cooperation Council (GCC) states — Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the UAE — today have a unique opportunity to diversify their economies beyond hydrocarbons. If they succeed, it will have far reaching implications for not only their own populations but also the entire global economy.

Falling per capita oil and gas production: The pace of reform in the GCC has been uneven. States with relatively low ratios of oil and gas production to the number of citizens will find it increasingly difficult to sustain standards of living for their people.
In conclusion, sustaining the pace of reform will be vital if the GCC wants to take a broader role in the global economy, beyond gas and oil. It is already one of the world’s fastest-growing regions. It could become one of its leaders.

Business Standard