PWC – Middle East Working Capital Study Report, 2024

In 2023, Middle East businesses showed strong revenue growth of 6.2%, driven by the energy sector and investments in the UAE and Saudi Arabia. Despite this, profitability declined due to increased costs influenced by global trends. Businesses focused on improving cash flow through cost reductions and greater working capital efficiency. Indirect SG&A costs were reduced post-COVID, but further improvements may require structural changes. COGS efficiency enhancements will be crucial, though external disruptions are expected to persist in 2024 and 2025. Addressing these changes will be essential for regional companies to unlock additional value.