Description

Kingdom of Saudi Arabia (KSA)’s uniquely difficult position in 2020 stems from the joint impact of a crash in the oil prices and health crisis mitigation lockdowns that has brought its economy to a halt. How deep and far reaching can the consequences of such a combination of restraints be for the Kingdom? What opportunities will Saudization, Vision 2030, and COVID-19 create? How can businesses leverage the growth opportunities created in the aftermath of such trends? In this research, Frost & Sullivan has analyzed the scale of impact of these transformational factors on Saudi Arabia’s growth and other vital macroeconomic elements.

The study provides insights into Saudi Arabia’s growth environment and identifies crucial drivers and restraints during these uncertain times. This research is a forward-looking macroeconomic assessment of elements such as trade, diversification, inflation, and GDP that covers the time period from 2019 to 2025.

The report also puts in perspective the long-term impact of COVID on economic growth, monetary policy, and individual sectors of the economy. The expectation of new-normal and their effects on domestic and foreign businesses is also explored. Saudi Arabia, as a part of the OPEC+ is a major oil-exporting country. The recent disruptions in global demand should alter the country’s trade and supply chain relations with China, the United States, and other Gulf Cooperation Council (GCC) economies.

With the Saudi Vision 2030 already underway, how will diversification alter the future of the country? A key feature of this study is its comparative assessment of the oil and non-oil sectors and their future growth trajectories. Furthermore, within the non-oil sector, three industries–retail, logistics, and manufacturing–have been identified as critical for growth in the upcoming years with a detailed assessment of their impact timelines.

Based on the trend analysis and the recovery outlook, Frost & Sullivan has detailed the economic growth opportunities for businesses in this crisis. This report defines the context of these opportunities and the call to action for companies that should be leveraged to drive growth. Similarly, this research identifies and expands on the top strategic imperatives for businesses that will be key to ensuring growth during these uncertain times.