US-Iran war to cost Gulf states $790 billion until 2030: Allianz Trade

The US-Iran war will cost Gulf countries more than $200 billion in damage and economic losses could reach nearly four times that amount by 2030, insurer Allianz Trade said on Wednesday. "Physical damage across the region is assessed just above $200bn, mostly concentrated in Hormuz-locked economies, especially in energy infrastructure," the insurer said in a report.

Beyond physical damage to energy infrastructure, the war has affected other sectors like tourism and real estate, which will see slower growth over the years. "The total cost of the war for the GCC is set to reach $790bn, a cumulative gap of 5.9% of GDP relative to the pre-war trend through 2030," the report said.