A study conducted by Heidrick & Struggles, a professional services firm serving the leadership needs of top organizations around the globe, shows that senior business leaders in the Gulf Cooperation Council (GCC) are optimistic about the economic outlook despite historically low oil prices and anticipated government spending cuts that could contribute to tougher market conditions in 2016.

According to Heidrick & Struggles' 'Navigating in the Changing Dynamics in the GCC Region Survey 2015' , close to 40% of respondents said that their company sales have increased more than 10%. The growth drivers primarily have been government-sponsored spending ahead of Expo 2020 Dubai, as well as infrastructure construction resulting from the target to double retail space in the Emirate by 2020. However, among the respondents, 21% of companies reported a decline in sales.

Tags: Heidrick & Struggles