As one of the world’s most affluent societies, Kuwait is home to a growing and diversifying retail sector. With strong economic fundamentals and a steady increase in consumer purchasing power, retail in Kuwait is on a sure foundation. On the back of this, mall space is set to expand, as is the food and beverages segment, driven by the prosperous and young generation that is boosting spending...
Efforts to diversify the economy away from hydrocarbons have helped drive industrial development. Non-oil GDP saw 10% growth in 2012, and during the 2006-12 period, manufacturing made up an average of 6.4% of GDP a year. Land, transport and electricity prices are currently the main challenges in growing this sector, but efforts are being made to overcome these issues. In early 2013, the...
As the first GCC nation to break its single-operator monopoly, Kuwait’s telecommunications industry has evolved over the past 15 years into one of the region’s most mature, competitive and technologically advanced. The private sector has invested heavily in the latest mobile technology, including 4G LTE, and LTE-Advanced (LTE-A), with these services moving to replace the state’s dwindling...
Although growth in real estate slowed during the global financial crisis, the sector subsequently rallied to become one of the best-performing non-oil industries in Kuwait. Following recovery in 2011 and 2012, real estate growth increased significantly in 2013, driven by rising residential demand and strong performance in the investment and commercial segments, as well as the revision of...
Driven by an expanding population and a slate of new infrastructure projects expected to enhance economic development and meet growing energy demands, Kuwait’s construction industry is set to grow impressively in 2014. Infrastructure projects in the pipeline will see an influx of public and private spending on road, airport and energy projects, while rising demand for housing and hotels has...
As new discoveries are being made in the north of the country, and as the industry develops increasingly sophisticated extraction technologies, Kuwait’s oil revenues should see a new boost. The authorities are also seeking to develop the country’s natural gas resources, as these could provide a valuable alternative for electricity generation. Although the kingdom was ranked as the world’s...
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