GCC can accelerate GDP growth from 3.5 percent to 6 percent over next 10 years: Research

DOHA: The World Governments Summit unveiled the second edition of the Productivity Potential Index (PPI), created in collaboration with Strategy Midd...

DOHA: The World Governments Summit unveiled the second edition of the Productivity Potential Index (PPI), created in collaboration with Strategy& Middle East, part of the PwC network.

This latest edition builds on last year’s launch by expanding its scope to include 60 countries, up from 25, offering an even more comprehensive look at what drives productivity in today’s world.

With its innovative framework, the PPI redefines how productivity is measured, integrating dimensions critical for our age such as environmental sustainability, wellbeing, innovation, and institutional quality.

The report estimates the untapped potential of Gulf Cooperation Council (GCC) economies, showing how improving their weakest productivity determinants could accelerate regional GDP growth from 3.5% to 6.0%, adding $2.8 trillion to the region’s GDP over the next decade. Overall, if all countries in the PPI sample were to improve their weakest productivity indicator to match that of the best-performing peers, it could boost the global economy by $87 trillion.

Regionally, Saudi Arabia leads among the GCC countries with the PPI score of $69.3 per hour worked, followed by Kuwait ($60.8),Qatar ($57.2), and Bahrain ($56.9). The UAE scored $48.7 per hour worked in the analysis.