With new construction contract awards in the UAE, Saudi Arabia, Bahrain and Kuwait alone forecast to be worth US$1,097.9 in 2017, the demand for contract floor, wall and interior surface coverings is set to rise as these projects are contracted out. The strong demand for innovative floor and covering products has also come about as a result of the rise in the number of refurbishment projects in the region, especially in the hospitality sector.
- Population Growth – Young, growing population that contributes to a strong demand base
- Large and sustained Government investment – The consistently large government budgets comprising investment toward development goals are the primary force behind the economies strong growth.
- Planned developmental goals – Most of the economies of the GCC have been for the past decade have set in place a planned diversification and development programme individually and collectively that contributes strongly to growth
- Tourism – The strategic location the Middle East countries as an important transportation hub, the attractiveness of these economies as a tourist destination either for religious purposes or for business or leisure has been recently acting as one of the main drivers to the country’s growth
- Infrastructure development as a part of the individual and regional developmental plans through their spillover effects on other sectors act as a strong driver of investment and growth
- Strong emphasis of government on social infrastructures such as education, healthcare and affordable housing