GCC nations are actively reducing their reliance on oil-driven economies, recognizing the need for diversification as populations grow and oil resources alone cannot sustain future development. From 2011 to 2021, fossil fuel dependency saw a decline, with the UAE leading the shift by reducing oil’s share to less than 30% of its GDP by 2023. Economic growth is forecasted at 2.4% in 2024 and 4.7% in 2025, fueled by oil output recovery and diversification initiatives. 

Key sectors driving this growth include real estate, tourism, manufacturing, and transportation. The region’s strategic location and infrastructure enhancements in ports and logistics position it as a global transshipment hub. Rising middle-class wealth and changing consumer preferences further open avenues for sustainable development.

• How can you capitalize on the demand for light commercial vehicles (LCVs) and the need for medium and heavy vehicles in infrastructure projects and freight transport to achieve growth?
  
• With the GCC’s shift towards economic diversification fostering growth in sectors like construction, infrastructure, and industrialization, which growth opportunities are emerging for the CV landscape?
  
• What are the key ongoing investments in road, rail, and public transport systems that will propel the growth trajectory of the commercial vehicle space?