Global agriculture, valued at approximately USD3 trillion, is a vital sector for the global economy, but the sector’s share of the global economy is just 3 per cent of overall GDP. Agricultural productivity is a cause for concern. Feeding 10 billion people by 2050 needs a 70 per cent increase from current food production levels. Meanwhile the sector also faces significant headwinds from the impacts of deforestation, land-use change, unsustainable practices and increasingly, climate change.
This report is the result of a research collaboration between HSBC and EY in the Middle East. It sets out the challenges facing the agriculture sector in Egypt, the Kingdom of Saudi Arabia (KSA) and the United Arab Emirates, as well as highlighting opportunities for sustainable solutions. The aim is to increase production and minimize adverse impacts.
The report highlights key government priorities, financial and economic aspects, and the market and technological factors that drive the sector’s development. It also examines some of the key business case themes that support the need for a transition towards more sustainable growth of the sector and overcome barriers.