The year 2025 is here, and it will be a pivotal one given that it marks the end of the first quarter of the 21st century. This fact implores every stakeholder to reflect on the region’s — and the world’s — journey so far.
Globally, the Organization for Economic Co-operation and Development (OECD) projects a growth of 3.3 percent for 2025. This aligns with the International Monetary Fund’s (IMF) 3.2 percent forecast. According to the IMF’s October 2024 report, “the battle against inflation is almost won.” And by the end of this year, inflation could fall to 3.5 percent. This indicates that the global economy has managed to remain resilient despite several prolonged challenges.
Regionally, the outlook is also optimistic. According to its latest economic update, the World Bank forecasts that growth in the Middle East and North Africa (MENA) will increase to 3.8 percent in 2025. This is higher than 2024’s 2.2 percent. The IMF shares the same trend projection, with the region’s growth estimated at 4 percent. Saudi Arabia is one of the main drivers, with economic growth expected to hit 4.4 percent.
Read more: Global economy at a dangerous juncture, World Bank chief says
The non-oil economy remains a critical factor in accelerating growth. In the UAE for instance, the Dubai Press Club has launched the Dubai Content Creators Program. Aligning with the goals of the Dubai Agenda D33 (one of which is to double the size of the emirate’s economy), the initiative aims to equip content creators with the skills to generate more compelling digital content. The initial phase entails improving the participant’s economic literacy.
Meanwhile, in Saudi Arabia, The Red Sea is a fast-rising destination that combines luxury, tourism, and sustainability. In support of the Saudi Vision 2030, this project is at the forefront of the country’s tourism revolution, with the destination expected to contribute about $5.9 billion to the country’s GDP.
Managing sustainability efforts is indeed one of the region’s key focuses. And this aspect becomes even more critical, as the World Economic Forum (WEF) reported a substantial investment gap of $30 trillion to achieve the world’s net-zero emissions target by 2050. Safeguarding the planet — with the help of investments and climate and clean technologies — is one of the five pillars of the upcoming Davos 2025, which will be held from January 20 to 24. This year, the WEF’s annual meeting will gather leaders and changemakers under the theme, “Collaboration for the Intelligent Age,” emphasizing the collective action needed to navigate today’s technology-driven economic landscape.
Many entities, both from the public and private sectors, acknowledge that they are at a critical juncture, especially this year. The need for balancing growth and sustainability is more urgent than ever. For example, Mastercard, a leader in the payments industry, plays a vital role in empowering small and medium-sized enterprises (SMEs). It also sees sustainability as something “woven into everything [they] do.” And it shows in initiatives like the Sustainable Card Program and the Mastercard Carbon Calculator.
Endeavors like these show that while challenges remain, they also present unique opportunities. It’s up to us to make the most of these opportunities.
