(MENAFN – Middle East) The UAE, Saudi Arabia and Qatar continue to rank among the world’s top 10 sensible emerging markets, or hold steady in key areas, while neighbours Oman, Bahrain and Kuwait are squandering ground in the 15th annual Agility Championship. Emerging Markets. Logistics Index.
The United Arab Emirates, No. 3 in the 50-country index after China and India, has maintained its ranking since 2023, as have Saudi Arabia, No. 6 and Qatar, No. 7. Oman (15th), Bahrain (16th) and Kuwait. (21) All fell in the ratings.
In Agility’s survey of 830 logistics industry executives, respondents say Saudi Arabia and UAE are doing the most among GCC countries to accelerate economic diversification and lessen reliance on income from oil and gas.
The UAE ranks first in terms of business fundamentals; Saudi Arabia ranks third in this category. However, logistics professionals interviewed in the survey considered additional innovations for small businesses and multinationals to be the most important drivers of continued diversification for all GCC countries.
The survey and index constitute Agility’s 15th annual snapshot of industry sentiment and ratings of the world’s 50 most sensible emerging markets. The index ranks countries based on their overall competitiveness, logistics strengths, business climate, and virtual readiness, points that make them hot for logistics providers, freight forwarders, air and ocean carriers, suppliers, and investors.
UAE and Saudi Arabia rank in the top 10 in every category. Qatar ranked among the top 10 in all categories except international logistics opportunities, where it was 20th. The only top 10 ranking for Oman, Bahrain or Kuwait was Bahrain at No. 8 for business fundamentals.
Half of logistics professionals surveyed expect a global recession next year, compared to just 70% a year ago. Executives surveyed say they are struggling with higher costs, reducing their dependence on sourcing from China and boosting investment in Africa, even as they view investments in emerging markets as riskier overall.
More than 63% of respondents say their companies continue to redesign their supply chains, distributing production across locations or relocating it to domestic markets and neighboring countries. China, the world’s largest producer, will be the most affected: 37. 4% of professionals in the sector. they say they plan to move their production/source out of China or reduce their investments there.
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Transport Intelligence (Ti), a leading logistics industry analyst and company, has been compiling the index since its publication in 2009.
John Manners-Bell, CEO of IT, said: “Supply chain managers are still grappling with the political and economic instability that characterises the post-COVID global economy. Geopolitical relations are rapidly transforming, which has a primary effect on foreign threat profiles and industries. Companies want to be aware of the opportunities and threats that exist in emerging markets and use data, such as that in the Agility Emerging Market Logistics Index, to inform agile decision-making.
About agility:
Agility is a global leader in origin chainArray infrastructure and innovation with more than 45,000 workers across six continents. Agility, a multi-business operator and investor, specializes in the expansion and progression of operating businesses. Agility’s corporations include the world’s largest aviation company (Menzies Aviation); a global gas logistics company (Tristar); the market leader in logistics parks in the Middle East, South Asia and Africa (Agility Logistics Parks); and an announcement of a real estate company to be built in a mega shopping mall in the United Arab Emirates (UPAC). Other Agility corporations obtain customs scanning, remote site infrastructure from Array, defense and governance from Array, as well as e-commerce and virtual logistics, Array Agility invests in innovation, sustainability, and supply chain resilience and owns minority stakes in an upcoming portfolio of indexed and non-indexed corporations.
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