Food and beverages; Food machinery, equipment and technology; Food processing machinery and technology; Food packaging machinery and measuring equipment
Hotel room supplies; Hotel kitchen supplies; Hotel cleaning supplies; Hotel furniture; Hotel decorations
Saudi Arabia, as the largest oil producing country in the Middle East, has an amazing consumption capacity and is the largest end consumer market in the Middle East. As much as 60% of the Middle East imported commodities are consumed in Saudi Arabia. Compared with mature markets such as Europe, the United States and southeast Asia, it can better guarantee the profits of exporters. Thanks to weak local industry, 95% of its output is imported. Saudi Arabia has a young population structure, with 70 percent of the population under 30 years old and 46 percent under 20 years old. Saudi Arabia imports almost all its commodities except oil and accessories. Consumption level is relatively wide. Saudi Arabia has not only rich royal nobles, rich middle class, but also lower-class people and migrant workers who account for two-thirds of the total population, forming high, middle and low consumption groups.
Saudi Arabia is the largest food consumer in the gulf, accounting for 74.1 percent of the GCC’s total production, and imports more than $1.42 billion in food and beverage products annually to meet its consumer needs.
With a high population growth rate and a corresponding increase in demand for packaged foods, the food industry has received consistent support from government departments. Saudi Arabia’s population will reach 33 million by 2021, lifestyle and diet will change, and food retailing and food service will become increasingly popular. This rapid growth has led many international companies to invest in the sector and set up joint ventures with Saudi companies.
The number of visitors will double from 47 million in 2008 to 88 million by 2020. Hotel rooms will grow from 120,000 to 255,000 over the same period. The growth of the number of hotel employees in the same period: from 10,200 to 18,600; Inbound tourism is on the rise, with the hotel sector registered to grow by 127% over the past decade. The Saudi hotel market is set to grow by an additional 83 percent over the next year as business travel and hospitality indices swell, creating huge opportunities for the hospitality and related sectors.