The Report: Kuwait 2024

The economy of Kuwait has long been underpinned by the production and export of crude oil. Although the rise in energy prices in 2021-22 boosted government revenue and macroeconomic stability, the COVID-19 pandemic, which preceded the commodity price boom, underscored the risk of over-reliance on an industry subject to fluctuating global demand.

Kuwait has rebounded strongly from the disruption of the COVID-19 pandemic, and public finances have been bolstered by elevated oil prices in 2021-22. With one of the most dynamic political systems in the region, the hope is that the executive and legislative branches of Kuwait’s government can work together to advance the policy changes and strategies needed to fulfill the ambitions of the country’s long-term development plan, New Kuwait 2035. Recently, Kuwait has been pursuing a programme of economic diversification to jump-start the expansion of the private sector via infrastructure projects and the privatisation of government assets. 

Among the many priorities of New Kuwait 2035 are goals to expand the role of the private sector, incentivise public-private partnerships, upgrade existing infrastructure, and generate a support mechanism for small and medium-sized enterprises. This chapter contains a viewpoint from Crown Prince Sheikh Mishal Al Ahmad Al Jaber Al Sabah.

Features and Benefits

• Go behind the scenes through exclusive interviews with influential leaders in the government, public and private sectors.
• Inform your market-entry strategies with sector-by-sector overviews of the main trends, opportunities and challenges.
• Get up to speed with conversations in local boardrooms through in-depth and thought-provoking analyses of the most topical economic and business issues.
• Leverage comparative research to spotlight synergies, competitive advantages and areas for improvement.
• Forecast scenarios for the year ahead, using a combination of hard stats and expert analysis, in a concise format designed to save you time.
• Make data-driven business decisions with digestible macroeconomic and sector indicators and infographics

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