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FINANCIAL NEWS
SMEs drive GCC economic and job growth
13 Oct 2016
(MENAFN) Ninety percent of all firms in Kuwait, Oman and KSA are SMEs, whereas the Qatari business ecosystem is 75pct composed of SMEs.
In addition, they employ 60pct of Saudi Arabia’s workforce, 43 percent of Oman’s, 57pct of Bahrain’s, 23pct of Kuwait’s and 20pct of Qatar’s.
Furthermore, SME activity accounts for 30pct of the UAE’s GDP, 28pct of Bahrain’s and 22pct of Saudi Arabia’s.
SMEs recently employ almost 17mn people in the GCC States, while this number will rise to 22mn by 2020.
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