Saudi Arabia’s economic and fiscal position strong due to Vision

Saudi fashion industry projected to grow 48% from 2021-2025, representing 13% annual growth rate
In 2022, fashion contributed 1.4% to Saudi GDP, amounting to $12.5 billion
230,000 people employed in fashion-related roles in 2022, including 90,000 in core fashion jobs
Women make up 52% of Saudi fashion sector employees, aligning with gender equality goals
Report provides data to help international brands assess opportunities in Saudi market's growth

arabnews.com

Relevant topic timeline:

8/23/2023

Oil Updates — crude dips as markets await PMI releases, Jackson Hole

Saudi Arabia was the top global export destination for Dubai Chamber of Commerce members in the first half of 2023, with exports valued at $9.53 billion, according to official data. Qatar also saw significant year-over-year growth of 39.3 percent in the same period. Southern Africa and Central Asia were highlighted as the fastest-growing regions for exports by members.

8/26/2023

Saudi Arabia’s economic diversification thrives amid global

Saudi Arabia's robust diversification efforts, driven by Vision 2030 strategies, have resulted in a surge of business activities and economic growth, despite worldwide economic uncertainty and concerns over inflation and geopolitical tensions. The country's economic diversification journey has led to the opening of new sectors and advancements in fields such as tourism, media, finance, and clean energy, making it a regional economic and technology hub. Saudi Arabia's continued focus on sectors like mining, metals, hospitality, tourism, and clean energy, along with fiscal consolidation efforts and revenue-enhancing measures, are key to sustaining its economic diversification model.

9/3/2023

Healthcare IT market in Saudi Arabia is set to grow by USD 1.6032 billion from 2022 to 2027

The healthcare IT market in Saudi Arabia is projected to grow by USD 1.6032 billion from 2022 to 2027, driven by an increase in the detection of chronic diseases and the growing need for healthcare IT solutions to effectively manage these conditions.

9/3/2023

Saudi Arabia's first-quarter tourism revenue more than tripled to $9.9bn

Saudi Arabia's tourism revenue tripled in the first quarter of 2023 as the country attracted more visitors and sought to diversify its economy from oil, with a surplus of 22.8 billion Saudi riyals ($9.86 billion) in the balance of payments for the tourism sector and a record number of tourists.

9/3/2023

Kuwait appoints Fahd Al-Jarallah as finance minister - KUNA

Kuwait has appointed Fahd Al-Jarallah as the new finance minister, replacing Manaf Al Hajeri who resigned in July, while Saudi Arabia's Tadawul All Share Index closed 35.42 points lower on Sunday, and Saudi Arabia has exempted micro and small businesses with annual revenues below $2.7 million from auditor's requirements to support entrepreneurship in the country. In other news, Oman's refineries and petroleum industries reported a 13.5% growth in July, and Jeddah will host an event and conference on elevators and escalator technologies in September, contributing to the growth of the vertical transportation industry in Saudi Arabia. Additionally, Qatar's tourism sector continues to thrive, with a 91.4% year-on-year increase in visitors in July, and container shipments handled by Qatari ports saw a 19% surge in August.

9/4/2023

ACWA Power to showcase its technologies at water, climate congress in

Saudi Arabia is experiencing a thriving fintech sector, with digital payments reaching 62% of the country's target of 70% by the end of 2025, and the number of fintech companies reaching 183, representing 80% of the target set for 2025. The growth of fintech is expected to support institutions, enable small businesses, and contribute to the expansion of the digital economy in Saudi Arabia.

Topics

Posted 9/6/2023, 2:35:15 PM

Saudi Arabia’s economic and fiscal position strong due to Vision

Saudi fashion industry projected to grow 48% from 2021-2025, representing 13% annual growth rate
In 2022, fashion contributed 1.4% to Saudi GDP, amounting to $12.5 billion
230,000 people employed in fashion-related roles in 2022, including 90,000 in core fashion jobs
Women make up 52% of Saudi fashion sector employees, aligning with gender equality goals
Report provides data to help international brands assess opportunities in Saudi market's growth

arabnews.com

Relevant topic timeline:

8/23/2023

Oil Updates — crude dips as markets await PMI releases, Jackson Hole

8/26/2023

Saudi Arabia’s economic diversification thrives amid global

9/3/2023

Healthcare IT market in Saudi Arabia is set to grow by USD 1.6032 billion from 2022 to 2027

9/3/2023

Saudi Arabia's first-quarter tourism revenue more than tripled to $9.9bn

9/3/2023

Kuwait appoints Fahd Al-Jarallah as finance minister - KUNA

9/4/2023

ACWA Power to showcase its technologies at water, climate congress in