Venture Capital in the Middle East and North Africa ... - Wamda.com
Venture Capital in the Middle East and North Africa ... - Wamda.com
Venture Capital in the Middle East and North Africa ... - Wamda.com
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<strong>Venture</strong> <strong>Capital</strong> <strong>in</strong> <strong>the</strong> <strong>Middle</strong> <strong>East</strong> <strong>and</strong> <strong>North</strong> <strong>Africa</strong> Report18appendixThe follow<strong>in</strong>g data provides an overview of <strong>the</strong> general macro environment <strong>in</strong> MENA.MENA Macro-economic Data 1Raymond Soueid, Booz & CompanyGCC macro-economic <strong>in</strong>vestment driversKey Input forenabl<strong>in</strong>gEconomic ActivityAvailability of<strong>Capital</strong>Ma<strong>in</strong> Structural Factors of Investment L<strong>and</strong>scape(Selection, Non-Exhaustive)Factors driv<strong>in</strong>g Dem<strong>and</strong> forProducts <strong>and</strong> Services from <strong>the</strong> RegionBus<strong>in</strong>essEnabl<strong>in</strong>gInfrastructureInstitutionalFramweorkForecastedIndex of EconomicGDP (2) Population (2) Population Enabl<strong>in</strong>g Infrastructure (4) Freedom (IEF)Growth (5)(3)Loans/GDP (1) $US Bn. Mn. CAGR 10-20Infras. Spend<strong>in</strong>g / GDP As ref., IEF US= 81GCC 50% 1,222 41.1 2.0% 29.6% 69Bahra<strong>in</strong> - 24 2 1.5% 27.2% 76Kuwait 61% 150 26.4 2.0% 37.0% 68Oman 38% 62 5.3 1.9% - 68Qatar 47% 153 2 2.6% 25.0% 69Saudi Arabia 42% 544 26.4 2.0% 31.8% 64UAE 61% 290 5.3 2.1% 24.2% 67The GCC countries, with 41 million <strong>in</strong>habitants, represent roughly 12 per cent of <strong>the</strong> total MENA population, <strong>and</strong>have an overall GDP of around USD1,220 billion. The GCC population is expected to grow at a CAGR of two per cent<strong>in</strong> <strong>the</strong> next 10 years, <strong>in</strong>creas<strong>in</strong>g consumption opportunities.With an average <strong>in</strong>frastructure spend to GDP ratio of around 30 per cent, <strong>the</strong> GCC constitutes a major part of overallMENA dem<strong>and</strong> for <strong>in</strong>frastructure capital, which is estimated by <strong>the</strong> OECD to reach more than USD300 billion for <strong>the</strong>next 10 years. In Qatar, <strong>the</strong> government’s road, rail, port <strong>and</strong> airport expansion plans, which will be <strong>the</strong> focus of nearterm<strong>in</strong>vestment, amount to over USD60 billion.1. All chart figures (GDP <strong>and</strong> Population) are as of 2011, unless o<strong>the</strong>rwise specified.Sources used <strong>in</strong>clude: Central banks, Global <strong>in</strong>vestment house, The Arab World Competitiveness Review 2010;United Nations Population Fund; IMF; World Bank, Global Insight 2011 data; Economic Intelligence Unit, Nomura;St<strong>and</strong>ard Chartered (data collected as average of 2007-08-09), Heritage Foundation “Index of EconomicFreedom” 2010 Report; Economic freedom is measured based on bus<strong>in</strong>ess, trade, fiscal, monetary <strong>in</strong>vestment,corruption <strong>and</strong> labor freedoms along with government size <strong>and</strong> property rights37
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