GCC economies: A compelling opportunity for asset managers
Oil prices at $100 a barrel and more are not the only thing generating excitement about the prospects for the GCC economies. Non-oil GDP is also increasing and there’s a young population with increasingly sophisticated investment requirements. Chris Wright reports.
The Gulf represents one of the most exciting opportunities for asset management anywhere in the world. At a time when global markets are being rocked by credit problems and an uncertain economic outlook, the Gulf Cooperation Council (GCC) presents a compelling range of drivers: growing wealth, at a sovereign and individual level, fuelled by a record oil price; growing sophistication in investment; liberalizing regulatory environments across the region; and stock markets that show little correlation to global equities.
At the heart of the Gulf’s appeal is its strengthening economic position, and it sets a framework for the growth of a vibrant asset management industry.