According to international insurance firm Allianz Trade, the conflict with Iran would result in damages exceeding $200 billion for the Persian Gulf nations, with economic losses possibly increasing nearly fourfold by 2030.
The insurer’s report indicates that physical damages in the region are estimated to exceed $200 billion, primarily affecting countries near the Strait of Hormuz, with a significant impact on energy infrastructure.
The report indicates that over 80 energy facilities, predominantly in Kuwait, Qatar, and Bahrain, suffered damage during the conflict, with a third experiencing “severe damage.”
In addition to the physical damage to energy infrastructure, the conflict has affected other industries, including tourism and real estate, with anticipated reductions in growth rates in the upcoming years.
The overall expense for the Persian Gulf nations will total $790 billion, representing a combined 5.9% of their GDP by 2030, highlights the report.
This figure represents the total economic losses from 2026 to 2030—the gap between the region’s expected production based on pre-war growth rates and its projected output after the war, the report states.
source: reuters.com
