DUBAI — The world’s largest institutional investors are displaying strong confidence in the Gulf’s economic trajectory, according to a senior World Economic Forum (WEF) official. Kelsey Goodman, Head of the Middle East and North Africa at the foundation, said the region’s recent performance has sent a definitive signal to global markets.
Speaking on the sidelines of a WEF meeting in Dubai held ahead of the annual gathering in Davos, Goodman described resilience as the defining characteristic of the Gulf economy this year.
“At the end of the day, the fundamentals of the Gulf economy remain solid. Investors remain confident in the Gulf,” she stated. Goodman cited recent U.S.-based research indicating that investors with the largest assets under management are among the most bullish on the region.
She attributed this sentiment to years of strategic, long-term planning by Gulf leadership. Efforts to diversify economies, expand export routes, and develop non-oil sectors have demonstrated a durable future for the region, she noted.
Artificial Intelligence Takes Center Stage
When asked about the strongest opportunity for foreign capital, Goodman pointed immediately to artificial intelligence. “I think the word on everybody’s lips is AI, of course,” she said.
She characterized the race to build AI infrastructure as a competition to become the backbone of the AI revolution, positioning the Gulf as a potential leader. A new WEF report, “Powering AI at Scale,” underscores the region’s capacity to lead in this domain.
However, Goodman cautioned that realizing this potential hinges on addressing the sustainability and resilience of data centers. This requires upgrading grid capacity and leveraging AI to enhance efficiency and reduce waste within the region’s own energy systems, thereby freeing up power for technological advancement.
Shaping Global Economic Priorities
Goodman also observed that the Gulf has transitioned from merely responding to global economic trends to actively shaping them. “We’re starting to see the Middle East, especially the Gulf, starting to shape in a lot of ways global economic priorities,” she said.
This influence is evident in the capital allocation strategies of the region’s sovereign wealth funds and major investors, as well as in investments in advanced manufacturing. The WEF has recognized several regional facilities as “Global Lighthouses” — a designation for the world’s most advanced manufacturing hubs.
Among those honored are Saudi Aramco, Emirates Global Aluminium, and Qatar Shell. Goodman described these lighthouses as best-in-class producers demonstrating how manufacturing is being transformed into a smart, future-ready industry.
