How did US-Iran war impact the Gulf economy?

US-Iran war, which began on February 28, has disrupted Gulf region’s tourism, sports and entertainment industries. Tourism is expected to contract 14.5%, from $386 billion in 2025 to $330 billion this year. F1 races in Saudi Arabia and Bahrain were cancelled causing losses of about $200 million. The Gulf aviation sector was also hit, with thousands of flights getting cancelled.