MEcon | November 2025 Edition
This report provides November's updates and analysis on key topics and
valuable regional insights across the Middle East, focusing on the Saudi
Arabia, United Arab Emirates, and Qatar markets.
Saudi Arabia
Real GDP in Q3 2025 grew by 5.0% YoY, with strong performance across all sectors. While the oil sector grew due to increased production, with oil exports achieving the highest growth rate recorded this year, oil revenues remained weak due to lower oil prices. Meanwhile, the Kingdom is expanding its offerings by developing mid- and upper-mid-range options to attract a broader market beyond luxury travelers, supporting the goal of reaching 150 Mn tourists annually by 2030.
UAE
International agencies continue to maintain an optimistic growth outlook for the UAE. The UAE’s near-term outlook is bolstered by significant government projects and investments, alongside robust momentum in the non-oil sector, including record performance in the real estate market across the country. Additionally, among key initiatives this month was the establishment of the UAE’s new National Investment Fund (NIF), capitalized at AED 36.7 Bn.
Qatar
The non-energy PMI decreased slightly in October 2025, reflecting slightly slower but sustained growth. Meanwile, Qatar recorded its third consecutive quarterly budget deficit of 2025, as lower hydrocarbon prices weighed on government receipts. However, according to latest rankings published by Institute for Management Development, Qatar now ranks amongst the world’s Top 20 countries for digital competitiveness.
