Kuwait

Rising demand for electricity has prompted Kuwait to sign three multi-billion-dollar deals aimed at significantly boosting the country’s gas imports.

The busy food and beverage industry in Kuwait is set for further growth, as domestic demand fuelled by rising incomes, combined with forecasts of higher turnover due to expansion in the tourism sector, pushes up trade volumes and attracts new suppliers in the retail and hospitality chains.

As Kuwait moves forward on health care reforms aimed at expanding service provision for its rapidly growing population, the private sector is set to play a more prominent role in the industry. While free health care is guaranteed to all Kuwaiti citizens, population growth has put considerable strain on state-owned facilities. The government has recently announced a number of new projects slated to be constructed across the country, with public-private partnerships (PPPs) expected to bolster service quality and provision for Kuwait’s 3.25m residents.

The growth witnessed across Kuwait’s retail sector in recent years looks set to continue, as additional outlets open their doors in newly available retail spaces. High-end malls carrying luxury brands, in particular, are proving popular with Kuwaitis, who rank among the GCC’s most affluent consumers.

While real estate sales in Kuwait exceeded $1bn in the first month of 2014, a shortage of housing at the lower end of the market continues to represent a challenge.

The recent approval of bids worth more than $12bn has paved the way for a major overhaul of two of Kuwait’s refineries, following costly shutdowns earlier this year.