Saudi Arabia solid medium-term growth

The retail sector in Saudi Arabia appears set for solid medium-term growth, with sales and turnover expected to rise steadily in the coming years as the public begins benefitting from a greater range of product lines and more shopping centres, Global Arab Network reports according to OBG. The Kingdom’s economy is forecast to expand by between 3% and 4% in 2011, with GDP expected to grow by a similar rate until at least the middle of the decade. Increased disposable income, along with higher consumer confidence, should flow directly into the sector, with analysts predicting the total retail spend in Saudi Arabia will rise to around $100bn by 2013, well up on the $75bn in outlays in 2008.

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