Economic integration across the Gulf Cooperation Council (GCC) has gained fresh momentum, with new data highlighting the growing depth of cross-border investment, trade, and financial connectivity under the Gulf Common Market (GCM) framework.
According to the latest Gulf Common Market Facts and Figures report issued by the GCC Statistical Centre (GCC-Stat), economic, investment, and services activity among GCC member states expanded significantly by the end of 2024, reinforcing the region’s long-term integration agenda.
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Strong Growth in Capital Markets
One of the key indicators of rising integration is the expansion of joint-stock companies accessible to GCC citizens across borders. The number of public joint-stock firms whose shares can be traded by GCC nationals rose to 748 companies in 2024, marking an increase of more than 30 per cent compared to 2023.
The total capital of these companies reached $549 billion, reflecting the growing scale and maturity of GCC capital markets. The number of shareholders across these firms stood at 246,600, underscoring increased participation by GCC citizens in regional equity markets.
GCC-Stat noted that these figures reflect the effective application of the non-discrimination principle, which grants GCC citizens equal treatment when investing, trading shares, or establishing companies in any member state.
Boost to Intra-GCC Investment and Trade
The report also highlights a notable rise in intra-GCC trade, which reached $146 billion in 2024, supported by the free movement of capital and harmonised regulatory frameworks.
Further strengthening regional financial integration, 30 GCC commercial banks are now licensed to operate across member states, facilitating cross-border financing, corporate expansion, and investment flows.
In addition, the number of licences issued to GCC citizens to practise economic activities in other member states climbed to 96,300 in 2024, reflecting growing confidence in the Gulf Common Market as a unified business environment.
Real Estate and Business Expansion Across Borders
The Gulf Common Market has also enabled GCC citizens to own real estate in other member states under unified regulations. In 2024, real estate ownership cases by GCC nationals in other member countries reached 17,900, supporting investment diversification and deeper financial integration.
By allowing GCC citizens to invest, set up projects, and conduct commercial activities across borders, the Gulf Common Market continues to enhance the region’s attractiveness for intra-GCC investment, entrepreneurship, and long-term economic growth.
A Pillar of Regional Economic Unity
Launched in 2007, the Gulf Common Market is a central pillar of GCC economic integration. It builds on earlier initiatives such as the free trade area and customs union, laying the groundwork for broader economic unity and potential future monetary integration.
As regional governments continue to align policies and regulations, the latest data underscores the Gulf Common Market’s growing role in creating a more connected, competitive, and resilient Gulf economy one that offers expanded opportunities for businesses, investors, and citizens across the GCC.
