Most Disruptive Industries in Saudi Arabia 2022

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 and regulations have been eased. Women can now drive in Saudi Arabia and there has also been a change especially around the social norms that have previously held back the entertainment industry. There is a rise of entertainment centers such as Smoke shops, movie theatres and relaxation parks. More than ever before, Saudi citizens are valuing relaxation and breaks from the regular work and school activities which has also been viewed as an appropriate step towards mental health.

The food industry has also emerged as very disruptive as the population seeks even to diversify the array of consumable food with an even greater interest in the dietary constituents. People are more keen on healthy food and this has led to a new edge in the hospitality industry by listing healthy food options in their menus. The government has also invested heavily in the food sector especially in irrigation schemes to enable Saudi Arabia to produce its own food supplies and reduce on the food importation. The government has also relaxed taxes and duty on some of the sectors such as importation of food which has also reduced the food prices significantly in the country. To the businesses in the food industry, it is all bliss and smiles to the bank as the profitability margins are great.