Irving, TX, July 02, 2014 --(PR.com
)-- The hydrocarbons-reliant Kuwait economy has achieved notable success in transforming its economy by diversifying its economic base. The government’s greater focus on non-hydrocarbon and service sectors and increased spending on R&D for developing new technologies for different industries are likely to offer immense opportunities for growth to the investors. The country has positive current account balance, strong fiscal and trade surplus with lower unemployment which makes the country less vulnerable to external risks. Kuwait’s economy is likely to grow at a much faster rate than the global GDP over the next five years and reach an estimated $201.3 billion at the current price by 2018.
Lucintel, a leading global management consulting and market research firm, performed a Political, Economic, Sociological, Technological, Legal, and Environmental (PESTLE) analysis of Kuwait and presents its findings in “PESTLE Analysis of Kuwait 2013.”
To reduce overreliance on oil, the Kuwait government has embarked on massive infrastructure development programs. Development of international airport, rail, road, and other infrastructure projects along with housing and real estate, and health and sanitation projects are expected over the next decade.The non-hydrocarbon sector will possibly witness increase in its contribution to GDP during 2013-2018.
Lucintel estimates Kuwait’s economic growth to gradually regain its strength. The country’s growth is anticipated to be driven by expansion in government and private consumption expenditure. Private investment is also expected to pick up with the improving business conditions in Kuwait. To maintain the GDP growth, Kuwait is significantly expanding the non-hydrocarbon sector by spending in excess of $110 billion by 2015. The fund of $77 billion from this will be spent by the government on infrastructure investment and manufacturing sector. Rising rate of FDI in sectors, such as mining, manufacturing, and financial has a positive impact on respective businesses.
This report provides the knowledge on leading industries and the emerging industries in the country. This report will be helpful for strategic analysis done by CEOs, managers, bankers, and industrialists who want to know about the political, social, legal, technological, environmental, and economic outlook of Kuwait. This report will also benefit those who want to invest in Kuwait. This report helps the reader to understand the economic strengths and risks involved in Kuwait.
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