Middle East & Africa Markets vs G20 in GDP Growth Rate & VC Growth (In Annual Percent Change)
06 February 2024•
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Economic Outliers: How KSA and Egypt Stand Out in a Global Downturn
Amid a global "VC Winter" and economic adjustments, Saudi Arabia and Egypt shine as outliers, outpacing many G20 and MEA counterparts. Saudi Arabia impresses with a 2.2% GDP growth and a 68% boom in venture capital funding, fueled by mega-deals in fintech and e-commerce, including standout investments in Tabby, Tamara, Hunger Station, and Floward, amassing over US $1.2 billion. Egypt, facing its economic hurdles, also demonstrates resilience with a 4.2% GDP increase and a steady 1% rise in VC funding. These nations exemplify the dynamism within the MENA start-up ecosystem, thriving against broader economic challenges.
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We are a team of passionate Researchers, Data Junkies, and Story-Tellers that believe there is not enough quality business insights and compelling data analysis available in the marketplace, told in the formats users want. We want to give an insider's look into the industries, businesses and economies that are changing the world today, so our users can become inspired, empowered and equipped to run their businesses as best they can.
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