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Middle East & Africa Markets vs G20 in GDP Growth Rate & VC Growth (In Annual Percent Change)
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.
Related Report
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The Evolution of Saudi Arabia Startup Ecosystem 2010-2022
The first comprehensive overview of Saudi's startup ecosystem, its history, and its future. The Special Report hosts perspectives and insights from many of the country’s most active investors, highlights new investment trends, critical milestones hit by the Kingdom’s fast-growing startup ecosystem, and spotlights a handful of interesting startups coming out of the Kingdom. It is packed full of insights, data, and opinions from the thought leaders and market-makers in the Kingdom. Readers will gain a deep understanding of the unique factors driving Saudi Arabia's entrepreneurial spirit, the challenges faced by startups, and the opportunities that lie ahead. This report serves as an invaluable resource for anyone looking to navigate and invest in this vibrant and rapidly evolving market.
