GCC countries attract $523.4b in foreign investment in 2023

The data issued by the Statistical centre for the Cooperation Council for the Arab States of the Gulf (GCC-Stat) indicates that the GCC countries have witnessed a steady rise in foreign investment.

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In 2023, inbound foreign direct investment (excluding intra-GCC investments) reached about $523.4 billion, representing roughly 80 per cent of the total foreign direct investment stock, confirming the growing international confidence in the Gulf business environment. Foreign direct investment inflows accounted for about 5 per cent of total global flows in 2023.

The volume of intra-GCC investments also increased from $88.2 billion in 2015 to $130.3 billion in 2023, which is equivalent to 20 per cent of the total foreign investment stock in the region. This is attributed to the development of infrastructure and technology, as well as the adoption of modern legislation that has enhanced the region’s attractiveness as a global investment hub.

The GCC’s external merchandise trade recorded slight growth of 1.1 per cent in 2024, despite the decline in average oil prices from 82.5 dollars per barrel in 2023 to 80.5 dollars in 2024.