Economic, investment, and services activity across the Gulf expanded significantly by the end of 2024, driven by a surge in cross-border participation and financial integration, according to the latest data from the GCC Statistical Centre (GCC-Stat).
The Gulf Common Market – Facts and Figures publication reveals that the number of public joint-stock companies open to GCC investors rose to 748, marking a robust 30.3 per cent increase compared to 2023. The total capital of these entities reached $549 billion, supported by a growing base of 246,600 shareholders.
GCC-Stat noted that these figures reflect the successful application of the non-discrimination principle, which allows citizens to trade shares and establish companies freely across regional capital markets.
The attractiveness of the Gulf Common Market as a hub for intra-GCC investment has been bolstered by policies allowing citizens to set up projects and conduct commercial activities in any member state.
This framework saw intra-GCC trade climb to $146bn in 2024. The financial sector has also seen increased connectivity, with 30 GCC commercial banks now licensed to operate across various member states.
The report further highlighted that the number of licences granted to GCC citizens to practice economic activities in other member states reached 96,300 last year, underscoring the deepening of regional business ties.
Beyond corporate investment, Gulf Common Market decisions have facilitated the free movement of capital and enabled citizens to own real estate in other member states under unified regulatory frameworks. This has strengthened financial integration and supported the real estate sector, with ownership cases by GCC citizens in other member states reaching 17,900 in 2024.
Launched in 2007, the Gulf Common Market remains a central pillar of regional economic integration. It follows the establishment of the free trade area and customs union, serving as the groundwork for a future monetary union and broader economic unity across the bloc.
&uuid=(email))