Government education spending has grown rapidly in recent years, as the leadership has continued to emphasise the importance of education in creating sustainable employment for Kuwaitis and equipping them with the skills to compete in the global marketplace. Government expenditure on education grew at an average rate of 14.8% in the four years to the 2013/14 fiscal year. Falling oil prices...
The health care market in Kuwait is set to receive a fiscal boost over the next five years, as rising public investment and private demand keep growth at double-digit levels. Health care provision and facilities are already expanding at a faster rate than most Gulf countries, reflecting Kuwait’s affluence and the government’s determination to prioritise the sector as part of the Kuwait...
The retail sector in Kuwait has achieved rapid growth in recent years, with retailers benefitting from strong economic fundamentals, evolving consumer tastes and a relatively unsaturated market. These factors are set to continue underpinning further growth and diversification over the coming years.The retail market, including wholesale, was worth $5.8bn in 2013, or 3.3% of GDP. While the trend...
Economic diversification is at the heart of Kuwait’s long-term development strategy, as is establishing the country as a gateway to the northern Gulf and Middle East. The industrial sector has a central role to play in this, as the state looks to develop export-oriented businesses that can supplement hydrocarbons income and broaden the revenue base. Under the Kuwait Development Plan (KDP) 2015...
Kuwait’s traditionally telecoms-led ICT sector saw developments in the past year that could encourage continuing expansion in telecoms and spur progress in the industry. While three telecoms operators continue to compete for the country’s high-value consumer market, they have also partnered with global ICT firms to expand their enterprise businesses. The government, for its part, has taken on...
Real estate has long been a mainstay of Kuwait’s non-oil economy, while its construction industry is among the strongest in the region and a rising star in the non-oil economy, with its growing population, tightly regulated land market and wealthy populous all combining to fuel demand for new building. In 2014 the two industries together accounted for 10.6% of non-oil GDP. Although a range of...
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