Want to create an interactive transcript for this episode?
Podcast: Middle East Dossier
Episode: Transitioning to Non-oil Economies in the Gulf: Successes, Failures, and the Path Forward
Description: Economic diversification strategies to wean Gulf economies away from a dependence on hydrocarbon revenues have existed for decades. Ongoing state-led investments in strategic non-oil industries have produced varied results. Recent development initiatives involving culture, renewable energy, and technology-oriented industries appear promising; however, the return on investment is neither immediate nor guaranteed. Proceeds from the oil and gas sector continue to constitute the majority of public sector revenues in Gulf Arab states.
Are overlapping initiatives to develop non-oil industries in the region opportunities for cooperation or competition? With a steady rebound in oil prices since the oil price...