Featured by OBG
Saudi Arabia, the region’s largest economy, is progressing towards diversification under Vision 2030. The digital economy is a standout performer, contributing 14% of GDP, while government-led giga-projects open long-term opportunities across various sectors. Despite a dip in oil activities that reduced the current account surplus to 3.2% in 2023, tourism income surged by 38%, boosting the service trade surplus to a record high. The Kingdom’s economy is forecast to grow by 4.6% in 2025. Saudi Arabia offers a dynamic business environment, attracting both large corporations working with government entities and smaller companies leveraging private sector activity. Key sectors like banking, energy and construction are thriving, driven by strategic investment and reforms.
In April 2014 South Africans celebrated the 20th anniversary of both the end of apartheid and the creation of the modern Republic of South Africa. These two events highlight just how far South Africa has come in the past two decades, during which the nation’s numerous assets have contributed to its rise as one of Africa’s leading economic and diplomatic players.
For millennia Egypt has been one of the most strategically important places on earth, and often one of its most culturally influential. Despite significant structural issues and the political instability of the past few years, it remains a country of great regional and global importance.
As East Africa’s largest economy, Kenya has seen its economy grow by more than 4% for the last three years, according to data from the World Bank, while an improvement in fiscal indicators and a new constitution encouraging devolution have helped to improve governance and the public balance sheet.
Ghana has developed a reputation as a robust and stable democracy, and with a storied legacy of pan-African initiatives it has long punched above its weight diplomatically. While the recent oil boom following the discovery of the offshore Jubilee field in 2007 has helped to fuel GDP growth as much as 14% over recent years, it is now projected to slow to a more modest 4.5% in 2014.
In 2014 Jordan’s population reached 6.64m, as regional turbulence saw an influx of refugees from neighbouring countries. Jordan, however, remains stable as it pushes ahead with the political reforms announced in 2011. The economy continues to revive following the global economic downturn, while government commitments to tackle structural issues in the economy bode well for future growth.