Race Against Time: How the GCC Region Can Become a Globally Competitive Innovation Leader
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Race Against Time: How the GCC Region Can Become a Globally Competitive Innovation Leader

October 13, 2021 | Report

Three major questions tend to dominate the conversation in the Gulf region across governments, businesses, academia, and wider society. First, how does our innovation capability compare with the best in the world? Second, what changes to the innovation ecosystem could catapult the region forward—bringing new value, growth, jobs, and economic diversification to the Gulf Cooperation Council (GCC) nations? And third, very timely, what is the window of opportunity to implement the necessary interventions? These are paramount and pressing questions that we aim to address in this research report.

Following the COVID-19 pandemic, countries and companies around the world have engaged in strategies to “build back better” in the dynamic VUCA-on-Steroids world, leveraging innovation to bring new solutions to major challenges ahead. How is the GCC region positioned to compete on the global playing field? What actions are required to set up the innovation ecosystem for it to deliver the required benefits to its governments, companies, and society and, in the process, to have the region make the journey from also-ran to innovation superstar? This is truly a race against time!

Insights for What’s Ahead

  • Innovation performance is flatlining and must be reinvigorated. The global ranking of GCC nations over the last decade has flatlined. The relative position of most GCC nations has deteriorated in global rankings such as the Global Innovation Index. Only the UAE has bucked this trend

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AUTHORS

ChrisGentle

Director of Insights
The Conference Board

ChakerEl Mostafa

Senior Economist
Kuwait Chamber of Commerce and Industry


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