Saudi Arabia is working to enhance its position as a key regional sporting and entertainment destination by hosting a series of high-profile events, part of a strategy designed to boost the leisure sector’s contribution to GDP.
Saudi Arabia
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Economic update | Saudi Arabia: Year in Review 2018
19 Dec 2018
Stronger energy revenue for much of the year and liberalisation reforms have helped Saudi Arabia’s economy rebound in 2018, though falling oil prices late in the year and the potential fallout over security issues could affect growth moving forward.
Saudi Arabia’s banking sector is on track to see its first merger in nearly two decades amid efforts to expand credit growth into targeted sectors, which comes as lenders across the board are poised to benefit from higher interest margins.
The insurance sector is expected to be a key beneficiary of Saudi Arabia’s recent decision to lift its ban on female drivers, a move that should also have a strong impact on automotive sales and services industries.
Efforts to encourage greater private sector participation have coincided with strong growth in Saudi Arabia’s mining sector, a key part of the country’s diversification strategy and a prominent driver of broader economic expansion.