GCC Countries Advance In Digital Economy

(MENAFN- Brazil-Arab News Agency (ANBA)) São Paulo – The countries of the Gulf Cooperation Council (GCC) have placed great emphasis on digitalization as a means to drive innovation and stimulate economic growth, according to a study released on Tuesday (1) by the International Monetary Fund ( IMF ). The bloc is composed of Arab nations Bahrain, Oman, Qatar, Kuwait, Saudi Arabia, and the United Arab Emirates.

The analysis indicates that these nations have incorporated ambitious digitalization strategies into their economic transformation agendas, with defined targets, and provides an overview of the goals set by each country. According to the document, in 2021 the digital economy (DE) accounted for 2% of Oman 's real gross domestic product, with the country aiming to step it up to 10% by 2040.

In Qatar , the digital economy accounted for 4.5% of the non-oil GDP in 2017, with a target to reach 7.8% by 2030. In Saudi Arabia , the DE contributed 11.5% to real GDP in 2018, with the goal of reaching 16% in 2025. The IMF's analysis highlights that in the UAE, the digital economy represented 9.7% in 2022, with a target to grow it to 19.4% by 2032.

Regarding the digitalization of government services, the report says that Bahrain aims to offer 200 types of services in this format by 2026, while Kuwait targets 90% digitalized services by 2027. In Qatar, the goal is to have 90% of government services digitalized by 2030.

Oman aims to move up from 50^th place in the United Nations E-Government Development Index in 2020 to 10^th place by 2040. In the same ranking, Saudi Arabia seeks to rise from 31^st place in 2022 to 5^th place by 2030. The UAE has an ambitious goal of fully digitalizing all its government services-100%-by 2025.

To get there

The IMF highlights key focal points of the GCC's digital transformation. These include modernizing digital infrastructure and increasing the digital economy's contribution to GDP, streamlining government operations, and promoting open governance to enhance efficiency and innovation. Additionally, the strategy involves implementing national information and communication technologies and broadband strategies, as well as improving quality of life and operational efficiency to elevate citizens' living standards.

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Translated by Guilherme Miranda

©Philippe Turpin/Photononstop/AFP

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