DUBLIN, June 9, 2020 /PRNewswire/ -- The "Understanding the Impact of COVID-19 on the GCC Region" report has been added to ResearchAndMarkets.com's offering.
Like other economies, countries in the GCC have been rendered vulnerable by the COVID-19 pandemic. Wholesale and retail trade, transportation and storage, and finance and insurance, which accounted for nearly 50% of Dubai's gross domestic product (GDP) in 2018, have all been affected. In the oil and gas industry, plunging jet fuel demand and higher oil production by Saudi Arabia in April threaten to push crude oil prices to a 17-year low in Q2 2020. However, it is not that everyone and everything is capsizing. Some industries in the region have made gains and exciting opportunities are emerging, while careful risk mitigation strategies are helping others chart a new course for the future.
Based on dynamic, real-time updates, the analyst's research indicates that COVID-19 could play out in three ways:
- In the first, and most hoped for, scenario of gradual containment, the outbreak will be largely contained by April, with most economies showing signs of industry and economic rebound by May, with full recovery by Q4 2020.
- If the pandemic is not contained to a large extent by April, a severe pandemic scenario would ensue, marked by downturns in consumer demand, industrial production and world GDP growth. The possibility of a year-long recession is real with full recovery only by Q3 2021.
- The third (and least-hoped-for) scenario, a global emergency, will be marked by the uncontrolled spread of the virus with economies limping back to recovery from Q1 2021, with a full recovery only by Q1 2022.
Regardless, the duration and severity of COVID-19's impact on economies and sectors will undoubtedly vary. Companies would do well to set in motion a look ahead, anticipate, and adjust roadmap. Over the short term, companies should explore supply chain diversification and leverage new opportunities arising from changing customer demands. Over the long term, product and service portfolio diversification will be critical to ensuring greater resilience.
Externally, strengthening brand equity and shifting sales channels online will be strategically important. Internally, adopting technologies that support workplace and operational continuity will enable companies to hit the ground running once the COVID-19 crisis abates.
This study examines which industries are thriving, surviving, and struggling during the pandemic. It considers the best practices that some companies have already put in place in response to the crisis and looks at actions that participants in numerous industries can take now to respond, recover, and thrive in the long term.
Key Topics Covered:
1. The Changed Economic Growth Environment
- COVID-19 Impact on Global GDP Growth
- COVID-19 Impact on Key Regions and Countries
- COVID-19 Impact on the Middle East
- 2020 Brent Crude Oil Prices
- Government Response to COVID-19
- COVID-19 Industry Mortality Matrix
- GCC Industries Affected by the Pandemic
- GCC Industries that are Benefitting
2. Impact on the Industrial Sector
- COVID-19 Impact on Labor and Equipment Providers
- Pandemic-related Challenges in the Oil and Gas Industry
- Growth Opportunities in the Oil and Gas Industry
- COVID-19 Responses in the Oil and Gas Industry - Respond, Recover, and Thrive
- Pandemic-related Challenges in the Renewable Energy Industry
- Growth Opportunities in the Renewable Energy Industry
- Companies to Action in the Renewable Energy Industry
- COVID-19 Responses in the Renewable Energy Industry - Respond, Recover, and Thrive
- Pandemic-related Challenges in the Water and Waste Industry
- Growth Opportunities in the Water and Waste Industry
- Companies to Action in the Water and Waste Industry
- COVID-19 Responses in the Water and Waste Industry - Respond, Recover, and Thrive
3. Impact on the ICT Industry
4. Impact on the Food and Beverage Industry
5. Impact on the Mobility Industry
6. Impact on the Transport and Logistics Industry
7. Impact on the Healthcare Industry
8. Impact on the Metals Industry
9. Impact on the Chemicals Industry
10. Risk Mitigation Strategies for the GCC Region
- Survival Strategies - Business Continuity and Resilience
- Winning Strategies for Accelerated Recovery and Growth
For more information about this report visit https://www.researchandmarkets.com/r/3oehvo
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