The Middle East has emerged as a key market for retailers across the world. The region has been witnessing rapid transformation in retail activities on the back of changing market dynamics and rapid economic development. The retail culture has evolved from traditional outlets to large shopping malls, hypermarkets, supermarkets and organized chains. Changing consumer demographics in countries like Saudi Arabia and the UAE, presence of large expatriate population, improving purchasing power and abundance of petro dollar have attracted premium and luxury brands to the region.
In 2009, the Middle East retail industry was valued at around US$ 418 Billion. All the countries did not react in the same way to economic downturn. While some economies like Kuwait slumped, others such as Qatar thrived due to high demand for its gas. We anticipate that the Middle East retail industry will grow at a CAGR of around 13% during 2009-2013 to more than US$ 675 Billion.
Our report “Middle East Retail Sector Forecast to 2013” has identified Saudi Arabia and UAE as the most potential and dynamic retail markets in the region. These two markets have been sustaining their dominance on the retail landscape for more than a decade and will continue to do the same in coming years. The presence of large expatriate population and majority of region’s retail investment in these countries have helped to maintain the growth momentum.
The report is an outcome of an extensive research and rational analysis of retail sector in the Middle East. Middle Eastern countries examined in this report include the GCC nations such as United Arab Emirates (UAE), Saudi Arabia, Kuwait, and Oman besides Turkey, Egypt, Jordan, Israel and Iran.
The report will help vendors, customers, consultants and industry analysts to get in-depth understanding of past and current scenario of retail industry. It has also identified future growth areas through interaction with industry veterans and developers. Information analyzed in the report is based on data available in research papers, journals and industry associations. Forecasts are based on the information available and our proprietary statistical models.