Market Watch KSA

The Kingdom of Saudi Arabia has exhibited significant economic growth through the year 2022. Most if not all the sectors have recorded positive growth and development especially after hitting a snag during the Covid-19 pandemic. The pandemic adversely affected nearly all sectors of the economy; not only in Saudi Arabia but across the globe. Most industries are still struggling to recover and swing back into profitable operations a year after the pandemic was contained. However, all industries have not recovered at the same pace; some industries have taken longer while others took just a few months to bounce back to profitable operations. In Saudi Arabia specifically, there are various factors that have shaped the recovery journey for companies in different industries. These include changes in customer behavior, government policy and the impact of technology. Notably, entertainment has been one of the most disruptive industries in Saudi Arabia. In the recent past, the social limitations...

 Saudi market has experienced substantial market in nearly all economic spheres in the last decade. For a country that has majorly relied on the energy sector, there is a notable and vibrant rise of other sectors such as agriculture, Information technology and many other manufacturing industries. The government has been at the fore front in creation of a conducive environment for private investors and general private sector to run profitable operations. The corporate tax rate, Value Added Tax (VAT) and import duty have been maintained at levels that enhance business profitability in the country. The operational regulations have also been eased to further create a supportive business environment. The last decade has experienced radical and abrupt changes largely contributed by technology. Technology has impacted nearly every aspect of business operations from online shopping, advertising, payments and even research and development. Saudi Arabia recorded over 500,000 new business est...