Despite some geopolitical turbulence in the Middle East, Turkey, and Africa, there are several factors at play that will contribute to economic growth in the region.
Saudi Arabia’s Vision 2030 agenda indicates the country’s plans to become a global investment hub and capitalize on the potential for economic strength.
Preparations are well underway for the 2020 World Expo in Dubai. The event is expected to significantly boost the local logistics sector as large investments are being made to the local infrastructure.
Additionally, the news of the imposed Value Added Tax (VAT) in Saudi Arabia and the United Arab Emirates (UAE) show the region’s projected economic growth to be promising.
To ride the wave of economic growth, companies in the region are hyper-focused on strengthening their core businesses and streamlining operations. As a result, logistics outsourcing is gaining momentum across the region.