June 17, 2025 — New obstacles to trade between the East and West could create long-term opportunities for large companies in the Middle East.

Companies in the Middle East have been optimistic about the future business outlook for the past several years. This enthusiasm remains in place in 2025, albeit tempered by an increasingly volatile global economic and geopolitical environment. 

More than 80% of the companies taking part in a recent study report having a positive outlook for the business environment for 2025, including 44% who describe their outlook as “very positive.” In keeping with that optimism, 43% of companies in the study name “growth in existing markets” as their top priority for the coming year, making growth by far the No. 1 goal.

“Large companies in the Middle East are betting that secular tailwinds powering economic growth across the region will prove more powerful than the cyclical volatility now sweeping global markets,” says Ruchirangad Agarwal, Head of Corporate Banking – Asia and Middle East at Crisil Coalition Greenwich and author of Corporates in the Middle East resolutely optimistic in the face of global headwinds. “Specifically, the increasing importance of the MENA region as a trade corridor is creating opportunities for growth across the region—and policies that disrupt trade flows between China and the U.S. could actually help accelerate that trend.”

Even as they focus on growth, large companies in the Middle East are moving to shore up capital positions and balance sheets in case the global economy takes a less favorable turn. On companies’ lists of strategic priorities for 2025, balance-sheet management ranks second, behind only revenue growth, with roughly a third of companies citing it as a top priority. 

“Although credit conditions are generally quite favorable for Middle Eastern corporates, companies are taking steps to rework capital structures at a time of elevated interest rates and solidify relationships with lenders as a means of ensuring access to credit in the event of a downturn,” says Ruchirangad Agarwal.