Four Arab countries – Saudi Arabia, Qatar, the UAE and Egypt – are among the world's 25 Rapid Growth Markets (RGMs), which are expected to achieve an average of 6.2 per cent growth this year, said Ernst & Young's new quarterly Rapid Growth Markets Forecast (RGMF). Over the past 10 years, Qatar has also been the fastest growing economy, with an average growth of 13 per cent per annum. Egypt's average growth was at 4.9 percent, the UAE at 4.3 percent and Saudi Arabia achieved almost 3.2 percent growth. Altogether, the 25 RGMs have grown on average by 5.8 percent per year over the last decade, more than three times as fast as the advanced economies combined and this rapid pace of expansion is set to continue, with growth in RGMs outpacing the advanced economies by more than 3.5 percent per annum over the next decade, it said.
