GCC countries plan to invest about $3 trillion on infrastructure, leisure and tourism sector by 2020 to diversify their economies and exports as well to get the advantage of growing trade and investment ties with China and India, says a report. “Having realised the urgent need for economic diversification since the past few years, focus on growing and investing in services trade has been one of the core development strategies in some MENA countries. Resource-rich countries, such as Saudi Arabia and the UAE, have significantly invested in services to further diversify their economy and exports while Saudi Arabia, Morocco and Egypt are also emerging among the favored tourist destinations,” says an in-depth research report issued by Al Masah Capital Limited on Saturday. Read More
