What the future of retail looks like in Saudi Arabia

What the future of retail looks like in Saudi Arabia

Over the past decades, retail – in some form or another – has become woven into the region's ‘cultural fabric' with many using it as an opportunity to socialise, shop and dine. In 2019, Jawda Investment reported that the wholesale and retail sector in Saudi Arabia contributed 16 percent of non-oil GDP witnessing steady growth year-on-year.

This likely comes as no surprise given the driving force of the powerful and aspirational Saudi Vision 2030, to reduce Saudi Arabia's dependence on oil and to diversify the economy. Through this, the country is committed to building a thriving economy and vibrant society that improves the quality of life and empowers its citizens.

Neighbourhood shopping centres maintained higher levels of visitors due to their convenience

The growth of retail is forecast to continue at an exponential