The report was jointly prepared by Oxford Business Group and the American University in Sharjah, with active participation from the Arab countries of the Persian Gulf, including Qatar, Oman, Jordan, Egypt, and Tunisia.
The key economic changes in the region include: growth in the non-oil sector, diversification based on knowledge, development of such sectors as fintech, green technologies, and artificial intelligence, as well as the promotion of the role of these technologies in the transport and logistics sectors. The importance of youth and the role of women in STEM fields are also emphasized as important resources for the modernization of the labor market.
The data shows that women in Arab countries are actively involved in economic sectors. Their share in the labor force increased from 32% in 2016 to 37% in 2023. In all surveyed Arab countries, the proportion of young people (25-34 years old) who want to become entrepreneurs in major sectors is higher than the average for the older generation. For example, in Qatar, 58% of new businesses are created by people under 35, while in Tunisia and Jordan this figure reaches 55%.
"Arab countries are changing. The labor market is transforming, and the youth, along with the predecessors, are actively shaping the future of the economy," experts note. They emphasize the need for investment in education and support for startups to promote the region's position in the global economy.
According to the data of the Central Bank, in 2022, 17% of the Arab population was involved in the creation and management of startups, which significantly exceeds the global average. One of the main risks for the stability of financial and banking systems is the high level of household debt.
