Building the Future: Drivers to Fintech and Its Adoption in the Middle East

The Middle East is home to nearly 500 million people, representing about 5.9% of the global population, and is projected to grow to over 700 million by 2050. Despite economic disparities, several countries, including Turkey, Saudi Arabia, Iran, Egypt, and the UAE rank among the top 50 globally by GDP. 

This economic strength, coupled with some strong drivers, is creating a fertile ground for Fintech development. As regional governments pursue economic diversification, financial technology is emerging as a key driver for modernization and growth, enabling the Middle East to position itself as a future Fintech hub. Let’s explore what the drivers and barriers are to Fintech adoption and acceleration in the region.