Gulf Development Boom Redefines the Consulting Industry

The consulting market in the Gulf is undergoing rapid transformation, driven by rising expectations, intensifying competition, and the pursuit of long-term value (Asharq Al-Awsat). 
The consulting market in the Gulf is undergoing rapid transformation, driven by rising expectations, intensifying competition, and the pursuit of long-term value (Asharq Al-Awsat). 
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Gulf Development Boom Redefines the Consulting Industry

The consulting market in the Gulf is undergoing rapid transformation, driven by rising expectations, intensifying competition, and the pursuit of long-term value (Asharq Al-Awsat). 
The consulting market in the Gulf is undergoing rapid transformation, driven by rising expectations, intensifying competition, and the pursuit of long-term value (Asharq Al-Awsat). 

The rapid acceleration of development programs across the Gulf, powered by national visions and landmark mega-projects, is transforming not only the region’s economies but also the consulting industry that supports them.

As governments and companies pursue unprecedented scale and ambition, they are increasingly seeking advisory partners capable of delivering measurable impact, practical execution, and long-term capability building, rather than strategies that remain confined to paper.

Recent studies indicate that as investment levels rise and expectations intensify, the central challenge is no longer the formulation of bold strategies, but their translation into tangible economic and institutional outcomes.

This shift has reshaped the consulting landscape, raising the bar for performance at a time when traditional advisory models are no longer sufficient. Clients now demand integrated solutions that generate real change, embed knowledge, and create value that extends well beyond theoretical recommendations.

According to a study by Strategy&, obtained by Asharq Al-Awsat, governments and companies across the region are increasingly prioritizing multidisciplinary expertise that combines global perspective with deep local understanding. In this new environment, a consulting firm’s credibility is defined by its ability to convert recommendations into measurable, on-the-ground results.

Jad Hajj, Managing Director and Regional Leader of Strategy& Middle East, part of the PricewaterhouseCoopers network, said ambitious transformation agendas will remain central to the region’s future.

“What distinguishes the current phase is the growing emphasis on sustainable value,” he said. “Governments and private-sector companies are looking for partners who can deliver outcomes, integrate knowledge transfer across the value chain, and bring a deep understanding of local priorities.”

The sector’s growth has attracted a broader range of players, from specialized local firms and in-house advisory teams within government entities and corporations, to technology companies offering innovative consulting services. This diversification is reshaping the market and intensifying competition. “This environment compels all participants to clearly demonstrate the value they bring,” Hajj added.

Mega-Projects and Integrated Ecosystems

Mega-projects and economic diversification initiatives across the Gulf underscore the importance of value creation in this phase, as they reshape regional economies at scale. The central challenge lies in execution, ensuring that investments translate into lasting economic impact by building integrated ecosystems, strengthening institutional and industrial capabilities, and embedding technology and artificial intelligence to support long-term growth.

These dynamics are most evident in Saudi Arabia, the largest and fastest-growing consulting market in the Gulf. Flagship developments such as the Red Sea destination and Qiddiya continue to advance the Kingdom’s diversification agenda and drive transformation across multiple sectors.

This fast-evolving environment requires consulting firms to strengthen coordination during execution, apply rigorous performance measurement, and deliver targeted insights aligned with national priorities to maximize impact.

“We are experiencing a fundamental transformation across all sectors, and consulting is no exception,” Hajj stated, adding: “Clients now expect a seamless link between strategy and execution, which requires close collaboration with local partners and sustained capability building. At the same time, innovations such as artificial intelligence are reshaping delivery models and governance to ensure lasting results.”

Technology and Gulf Talent

Artificial intelligence sits at the center of the consulting sector’s evolution, offering both efficiency gains and structural change. Hajj noted that AI enables faster and deeper analysis, allowing consultants to devote more time to stakeholder engagement and long-term strategic design.

AI is also narrowing the gap between strategy and execution by overcoming scale and capability constraints and enabling firms to provide practical tools that help clients implement strategies and track outcomes. While AI enhances speed and quality, Hajj emphasized that critical judgment, accountability, and sector insight remain core human responsibilities.

Alongside technological change, firms are investing in local talent development to ensure sustainable impact. Strategy& has launched initiatives such as the 10-month “Qadat Program for Gulf Nationals,” aimed at equipping high-potential graduates with hands-on experience and leadership skills to support national visions.

A Rapidly Evolving Market

The Gulf consulting market is undergoing rapid change, driven by higher expectations, intensifying competition, and a growing focus on long-term value. Success is no longer measured by advice alone, but by the tangible outcomes delivered and the capabilities embedded within organizations after projects conclude.

Hajj underlined: “This region is redefining what it means to be a trusted advisor... Clients expect measurable results, capability building, and sustained engagement. While the journey continues, this is a pivotal moment to contribute meaningfully to the region’s long-term ambitions.”

 

 



Oil Falls as Trump Predicts Middle East De-escalation

Wells at the San Ardo Oil Field in San Ardo, Calif., Monday, March 9, 2026. (AP Photo/Nic Coury)
Wells at the San Ardo Oil Field in San Ardo, Calif., Monday, March 9, 2026. (AP Photo/Nic Coury)
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Oil Falls as Trump Predicts Middle East De-escalation

Wells at the San Ardo Oil Field in San Ardo, Calif., Monday, March 9, 2026. (AP Photo/Nic Coury)
Wells at the San Ardo Oil Field in San Ardo, Calif., Monday, March 9, 2026. (AP Photo/Nic Coury)

Oil prices fell on Tuesday after hitting a more than three-year high in the previous session as US President Donald Trump predicted the war in the Middle East could end soon, easing concerns about prolonged disruptions to global oil supplies.

Brent futures fell $6.28, or 6.3%, to $92.68 a barrel at 0715 GMT, while US West Texas Intermediate (WTI) crude was down $6.19, or 6.5%, to $88.58 a barrel, reported Reuters.

Both contracts fell as much as 11% earlier before paring some losses. Oil surged past $100 a barrel on Monday to the highest since mid-2022, as ‌supply cuts ‌by Saudi Arabia and other producers during the expanding US-Israeli war ‌on ⁠Iran stoked fears ⁠of major disruptions to global supplies.

Prices later retreated after Russian President Vladimir Putin held a call with Trump and shared proposals aimed at a quick settlement to the war, according to a Kremlin aide, easing concerns about supply.

Trump said on Monday in a CBS News interview that he thought the war against Iran was "very complete" and Washington was "very far ahead" of his initial four- to five-week estimated time frame.

"Clearly Trump's comments about a short-lived war have calmed ⁠markets. While there was an overreaction to the upside yesterday, we ‌think there is an overreaction to the downside today," ‌said Suvro Sarkar, energy sector team lead at DBS Bank, adding that the market was ‌underappreciating risks at these levels for Brent.

"Murban and Dubai grades are still well above $100 ‌per barrel, so practically nothing much has changed in terms of ground realities," he added, referring to benchmark Middle Eastern oil grades.

In response to Trump, Iran's Revolutionary Guards Corps (IRGC) said they would "determine the end of the war," and Tehran would not allow "one liter of oil" to be exported ‌from the region if US and Israeli attacks continued, state media reported on Tuesday, citing the IRGC's spokesperson.

Prices, however, remain under ⁠pressure as Trump ⁠considers easing oil sanctions on Russia and releasing emergency crude stockpiles as part of a package of options aimed at curbing spiking global oil prices, according to multiple sources.

"Discussions around easing sanctions on Russian oil, comments from Donald Trump hinting that the conflict could eventually de-escalate, and the possibility of G7 countries tapping strategic oil reserves all pointed to the same message - that oil barrels will somehow continue to reach the market," Priyanka Sachdeva, a Phillip Nova analyst, said in a note on Tuesday.

"Once traders sensed that supply routes could still be maintained, the initial 'panic premium' that had pushed prices above the $100 mark yesterday started to fade, and oil prices quickly pulled back."

G7 nations had said on Monday they were prepared to implement "necessary measures" in response to surging global oil prices but stopped short of committing to the release of emergency reserves.


Gold Gains on Weaker Dollar, Easing Inflation Concerns

AFP- A saleswoman adjusts gold jewelry for sale at a shop in Lianyungang_ in China's eastern Jiangsu province
AFP- A saleswoman adjusts gold jewelry for sale at a shop in Lianyungang_ in China's eastern Jiangsu province
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Gold Gains on Weaker Dollar, Easing Inflation Concerns

AFP- A saleswoman adjusts gold jewelry for sale at a shop in Lianyungang_ in China's eastern Jiangsu province
AFP- A saleswoman adjusts gold jewelry for sale at a shop in Lianyungang_ in China's eastern Jiangsu province

Gold prices rose on Tuesday, supported by a weaker US dollar and easing energy costs after US President Donald Trump suggested that the war in the Middle East could end soon.

Respite from a potential war-driven surge in inflation would likely reduce the chances of central banks raising interest rates, a positive for non-yielding gold, Reuters said.

Spot gold rose 0.7% ‌to $5,174.49 per ounce, ‌as of 0631 GMT. US gold futures ‌for ⁠April delivery rose ⁠1.6% to $5,184.

The dollar fell 0.4%, making greenback-priced bullion cheaper for holders of other currencies.

Gold prices rose "due to the news flow from US President Trump himself, stating that there is a potential for de-escalation ... So what we could see is that potential inflation expectation starts to tone down given this dramatic fall in ⁠oil price," said Kelvin Wong, a senior ‌market analyst at OANDA.

Oil prices ‌fell by more than 5% following Trump's comments.

But, the US president ‌also warned that US attacks could rise sharply if ‌Iran sought to block tanker traffic through the Strait of Hormuz, which handles one-fifth of the world's oil supply.

The war has effectively shut the strait, stranding tankers for over a week and forcing ‌producers to halt output as storage fills up, sending energy prices soaring.

Gold prices fell by ⁠as much ⁠as 2% on Monday as higher energy costs fanned inflation concerns and further dimmed the prospects for a near-term cut in interest rates by the US Federal Reserve.

Investors expect the Fed to keep rates steady at the end of its two-day meeting on March 18, per CME Group's FedWatch tool.

Markets are now awaiting the US consumer price index for February, due on Wednesday, and Personal Consumption Expenditures (PCE) index - the Fed's preferred inflation gauge - on Friday.

Spot silver rose 2% to $88.73 per ounce. Spot platinum gained 0.7% at $2,196.35, while palladium lost 0.3% to $1,685.01.


Milei Cheers Economic Benefits of Iran War for Argentina

President Javier Milei of Argentina was in New York participating in an investment promotion event. Angela Weiss / AFP
President Javier Milei of Argentina was in New York participating in an investment promotion event. Angela Weiss / AFP
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Milei Cheers Economic Benefits of Iran War for Argentina

President Javier Milei of Argentina was in New York participating in an investment promotion event. Angela Weiss / AFP
President Javier Milei of Argentina was in New York participating in an investment promotion event. Angela Weiss / AFP

Argentine President Javier Milei, a staunch ally of US President Donald Trump and Israel, on Monday hailed the benefits of the Iran war for his country's exports and foreign currency reserves.

The libertarian Milei, who has backed Washington and Israel's strikes on Iran, said he expected an "improvement" in oil and agricultural exports as a result of the 10-day-old conflict, said AFP.

Oil soared past $100 a barrel for the first time in four years on Monday, as Iran fired a new barrage of missiles at its US-allied oil-rich Gulf neighbors and signalled that the Strait of Hormuz would likely remain shut.

Argentina is Latin America's fourth-largest oil producer.

"Argentina, in this context, will see an improvement in its terms of trade because oil prices are rising, and Argentina is a net exporter," Milei told Argentine radio station FM NOW.

"Furthermore, all the grains that Argentina exports, soybeans, corn, and sunflower, are also rising in price," Milei said in an interview from New York, where he was participating in an investment promotion event.

Last week, wheat reached its highest level in a year and soybeans hit their highest point since June 2014 as the war drove up energy and fertilizer costs.

Milei emphasized that the war would boost Argentina's efforts to build up its foreign currency reserves, as demanded by the International Monetary Fund in return for a new $20 billion loan agreement signed last year.

The oil and gas sector accounts for 13.5 percent of Argentina's exports, second behind the agricultural sector, which accounts for more than 60 percent of foreign sales.

Soybeans amount to 24.6 percent of total exports.