The GCC region is a small but important part of the global economy. Its 2007 real GDP was around US$810 billion, accounting for just of the global total 12 . Despite the relatively small size of their economies and populations13 , the rate of GDP growth in GCC countries reached in 2007, which is similar to the Asia Pacific average (5% to 6%). Its growth rate exceeded the averages for Latin America, Europe, the OECD and the Middle East. In terms of GDP per capita, Qatar, the UAE, and Kuwait rank among the highest.
