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Economic Change in the Gulf

July 3, 2019

The Gulf states are preparing for a economic future independent of oil. The black gold once turned Bedouins into global players, but the market for oil and gas is changing as renewable energies become increasingly viable

https://p.dw.com/p/3LXFa
Bahrain Ölförderung
Image: picture-alliance/AP Photo/H. Jamali

The Gulf states are watching the changing energy landscape and preparing for an economy that isn’t based on oil. Researchers from all over the world are in Saudi Arabia, Qatar or Oman, developing windows that can generate electricity, facades that can repel heat, or cement made from the waste products left over from oil production.

However, as long as these states are still ruled by powerful and entitled cliques and vested interests, economic change will be slow in coming. And, for anything to really change, the region’s working population will also have to revise its priorities away from comfortable civil service jobs towards the more risky private sector. In addition women will need to be allowed unfettered access to the workplace in order for the Gulf States to realize their full economic potential.

 

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