The Conference Board uses cookies to improve our website, enhance your experience, and deliver relevant messages and offers about our products. Detailed information on the use of cookies on this site is provided in our cookie policy. For more information on how The Conference Board collects and uses personal data, please visit our privacy policy. By continuing to use this Site or by clicking "OK", you consent to the use of cookies. 

Gulf Economic Outlook 2020 - Q1 Update

May 2020 | Publication

The Gulf countries face a somber outlook, with the GDP of the region expected to contract by 5.9% in 2020 compared to 2019. The Gulf countries whose economies remain highly dependent on hydrocarbon are ahead of “perfect storm” like scenario: a humanitarian crisis, that morphed into a global demand shock and pushed oil prices into a free-fall. A historical oil production cut agreement barely managed to improve prices.

Support Our Work

Support our nonpartisan, nonprofit research and insights which help leaders address societal challenges.



Itani, Hiba 120x1201.jpg

Hiba Itani

Senior Economist
The Conference Board Gulf Center for Economics and Business Research


Our Experts


Bart van Ark

Executive Vice President & Global Chief Economist; Program Director, CFO: Fortune 250 Council


Ataman Ozyildirim, PhD

Director, Economic Research, and Global Research Chair


Abdul Erumban

Senior Research Fellow