High levels of consumer spending, coupled with reforms allowing for greater foreign ownership of retail businesses, look set to drive expansion in Saudi Arabia’s retail sector through to 2020 and beyond.
Saudi Arabia
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Strong domestic demand and the desire to conserve oil resources for export are driving reform in Saudi Arabia’s power sector.
Proposed changes to Saudi Arabia’s capital markets regulations could be fast-tracked by authorities, paving the way for increased participation from international investors.
Recent measures to levy a tax on empty plots of land in Saudi Arabia are intended to kick-start the residential property sector and tackle the Kingdom’s housing shortage.
Tourism is set to take on a pivotal role in the Saudi Arabian economy, with business, leisure and faith-based travel all identified as vehicles to raise the industry’s profile and generate both revenue and employment.
Reforms aimed at opening up Saudi Arabia to investment and encouraging private sector participation are moving forward, even as further details of the Kingdom’s long-term National Transformation Plan (NTP) have yet to be released.