An industry with line lives has been saved
An industry with line lives
ME PoV Fall 2014 issue
Telecom operators in the GCC survived the financial crisis and maturing markets by adjusting to the end of explosive growth. How ready are they to adapt again to new industry trends?
After years of strong growth, Gulf Cooperation Council (GCC) telecom operators have slowly adapted to the new realities of their maturing markets. Rising oil prices contributed to sharp increases in the level of gross domestic product (GDP) per capita, creating an attractive telecoms market. Between 2004 and 2007, GCC telecom
revenues grew 15 percent annually, with earnings margins hovering around 47 percent. Fueled by growing profits and healthy cash flow, GCC operators went on a buying spree across the Middle East, Africa, and Asia, acquiring existing operators or licenses to launch their own networks.