GCC Weekly™ curates and aggregates news about socio-economic, technology and political climate in the Gulf Corporation Council (GCC) zone. Six Middle East countries that are members of GCC are Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates.
A small island nation with a population of 1.4 million and a GDP per capita of $51,800. It relies heavily on oil and gas revenues, but also has sectors such as banking, tourism, and manufacturing.
A wealthy country with a population of 2.9 million and a GDP per capita of $69,700. It has 6% of the world’s oil reserves and a unicameral parliament, but the emir has the final say on most matters.
A moderate country with a population of 3.4 million and a GDP per capita of $45,500. It has relatively small oil reserves, which are expected to run out by 2030, so it is diversifying its economy with sectors such as tourism, fisheries, and logistics.
The second richest country in the world, with a population of 2.3 million and a GDP per capita of $124,900. It has 13% of the world’s natural gas reserves and invests in media, sports, and education.
The largest and most influential country in the GCC, with a population of 28.5 million and a GDP per capita of $55,300. It has 16% of the world’s proven oil reserves and is implementing a vision 2030 plan to diversify its economy and modernize its society.
United Arab Emirates:
A federation of seven emirates with a population of 6 million and a GDP per capita of $68,000. It has 7% of the world’s oil reserves and a diversified economy with sectors such as tourism, trade, and technology.
The GCC was established in Riyadh, Saudi Arabia, in May 1981. The purpose of the GCC is to achieve unity among its members based on their common objectives and their similar political and cultural identities, which are rooted in Arab and Islamic cultures.
The GCC also has a defense planning council that coordinates military cooperation between member countries. The highest decision-making entity of the GCC is the Supreme Council, which meets on an annual basis and consists of GCC heads of state.
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