- Joined
- Sep 7, 2018
- Messages
- 163
GENERAL INFORMATION
- Saudi Arabia is an oil-based economy and ranks as the largest exporter of petroleum.
- The official language is Arabic.
- GDP per capita reached $23,216 in 2018. GDP growth fell from 2.4% in 2018 to 1.7% in 2019.
- Immigrants make up 37% of the total population in search of economic opportunities;
- Riyadh, Jeddah, Mecca, Medina, Hofuf, Ta'if, Khobar, Yanbu, Dhahran, Dammam are major urban centers.
CONSUMER BEHAVIOR
Generally, Saudis value quality and luxury brands. However, the behavior of consumers in the Arab world in general (Saudi Arabia in particular) has changed in recent years; more attention has been drawn to prices and less to brand loyalty.
DEVICE USAGE
98% of the adult population use mobile phones of any type, with the distribution of laptop and tablet usage consisting of 56% and 22%.
INTERNET PURCHASES (Statista)
- Revenue in the internet purchases market amounted to $1,648m in 2019.
- Revenue is expected to show an annual growth rate (CAGR 2019-2024) of 3.0%, resulting in a market volume of $1,909m by 2024.
- User penetration was 66.1% in 2019 and is expected to hit 73.5%
