Benefitting from rising incomes and a youthful, growing population, Saudi Arabia’s real estate sector has seen steady expansion in the past decade. Although this increase has been more modest than in its GCC neighbours, it is clear that strong demand for residential real estate will continue over the long term thanks to the country’s demographics. In the short term the hospitality and office...
Since 2008 the Saudi authorities have invested heavily in transport infrastructure projects as part of efforts to expand and diversify the economy as well as reduce automotive transport for both passengers and cargo. Ports have been built, airports expanded and upgraded, and railway and metro projects initiated – and in some cases already completed. Tens of billions of dollars have already...
With high levels of consumer spending in 2015 and early 2016 despite recent macroeconomic pressures, Saudi Arabia’s retail sector is widely acknowledged to be a bright spot in an otherwise challenging current economic landscape. Over the past decade the industry has posted growth of 12% on an annual basis on the back of steadily rising purchasing power among Saudi households and, concurrently...
Like many places in the world, Saudi Arabia’s media landscape is going through rapid change, primarily brought about by digital technology and the rise of social media – internet penetration rate is estimated at around 65% overall and 93% among Saudi nationals. While traditional media still has a strong footprint and is unlikely to be pushed aside any time soon, legacy media organisations are...
Saudi Arabia is the biggest ICT market in the Middle East, with annual sector spending expected to reach about SR140bn ($37.3bn) by 2017. At a time of shrinking oil revenues, the government has identified ICT as a key driver of smart, cost-effective solutions for government and commerce alike, and as a major pillar of the Kingdom’s long-term development strategy, Vision 2030. However, there...
Saudi Arabia has long been a major investor in its military, with defence outlays representing a significant portion of the national budget. Despite the drop in oil prices since mid-2014, which in the short term is having a noticeable impact on the government’s military spending, defence outlays are likely to continue to grow, with multi-billion-dollar contracts still being signed. While...
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