Organizations in the Middle East are currently navigating a complex landscape marked by persistent global uncertainty, geopolitical tensions, and climate-related risks. Despite easing inflation, vulnerabilities remain due to elevated public debt, exposure to global financial tightening, and fragile post-conflict recoveries. As a result, companies across the region continue to prioritize liquidity, resilience, and operational efficiency amid cautious optimism for growth acceleration.
We analyzed working capital trends across a sample of over 1,300 publicly listed companies based in the Middle East from 2020 to 2024, with breakdowns by sector and company size. Our analysis shows that working capital levels, measured by the cash conversion cycle (CCC), decreased from 94 to 89 days between 2020 and 2024.
This paper examines how Middle Eastern companies are managing working capital in a volatile economic environment, highlighting recent improvements in cash efficiency based on analysis of 1,300+ listed firms.
