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FINANCIAL NEWS
Top Arab nations’ USD367b of GDP under threat
20 May 2016
(MENAFN) Lloyd, a specialist insurance market, has a recent research showing that the economic development for Middle East’s key countries which sets at USD367 billion of GDP is at serious risk over the next ten years.
Lloyd’s goal is to help increase the understanding of the shifting risk landscape plus stimulating further discussions between governments and businesses on the need to improve resilience and protect infrastructure.
Many Middle East key cities including Amman, Doha, Dubai and Jeddah together will make an annual GDP of USD2.4 trillion in average through the next decade, but 15 percent of it is at risk from the mix of 18 manmade and natural threats.
Emerging economies will shoulder two-thirds of risk related financial losses due to their fast economic growth, plus manmade risks such as market crash, power outages and nuclear accidents are becoming increasingly significant.
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