First Abu Dhabi Bank’s 2024 Global Investment Outlook (GIO) Report: ‘Making a positive impact,’ forecasts that the economies of the UAE and Gulf countries will outpace the global forecast for 2024.
The report, now in its tenth edition and written by FAB’s industry experts, examines the current global economic and investment environment, with insights into key macroeconomic trends.
Alongside key economic indicators, the FAB report considers a range of trends shaping future growth prospects, including a focus on specific industries.
The report includes focused chapters on ESG, oil, Mena markets outlook, emerging markets outlook, global markets outlook, real estate, and developments in investment products and solutions.
FAB shared that it expects national and regional growth to be driven by demand in tourism, real estate, transportation, and manufacturing sectors.
It sees the UAE’s GDP expanding 3.7% in 2023 and 4% in 2024, and GCC’s by 3.4% this year – higher than the IMF’s global forecast of 3.1% and 2.1% for the US in 2024.
The GIO report also highlights what FAB believes are the five key risks for 2024:
- Artificial intelligence,
- The US elections,
- Tensions in the Middle East and Africa, climate change, and
- US-China relations.
The full report can be viewed here.