Middle East Retail to Witness 13% Growth

Middle East retail sector is witnessing unprecedented growth, making the region one of the world's fastest growing retail environments. According to a recent report from RNCOS "Middle East Retail Sector Forecast to 2013", the revenue generated by retail industry in the region witnessed a marginal decline in 2008 as compared to other markets across the globe. Overall retail sales declined by mere 5% in 2008; however, it is expected to grow by 10% in 2009 and 13% during 2009-2013.

Over a period of time, Saudi Arabia and UAE have emerged as the most potential and dynamic retail markets across the region. These two markets have continued to dominate the retail industry landscape from more than a decade and will continue to do the same in coming years also. The presence of large expatriate population and majority of the region's retail investment in these countries has helped in maintaining the growth momentum of these two retails markets.

In our opinion, there will be a marginal effect of the 2008 financial crisis on the Middle East's retail market. Strong economic fundamentals and well protected banking system will shield the region from the aftermath of the financial crisis. We think the declining oil prices may be cause for concern for most the oil exporting countries, but it will be short-lived as improving economic conditions and increasing fuel consumption will drive the oil prices northwards.

We expect that total retail sales in the Middle East region will reach close to US$ 700 Billion by 2013. Majority of growth in the region will be driven by increasing consumer confidence and rapidly changing market dynamics, especially in the UAE and Saudi Arabia. We expect that these two markets will continue dominating the region's retail industry landscape in future also due to concentration of regional purchasing power and rising investments level.

"Middle East Retail Sector Forecast to 2013" offers comprehensive research and rational analysis on the retail industry of the Middle East. It gives detailed information on the retail industry of various countries in the region with focus on every aspect underlining the key issues related to the industry. The report also helps clients to analyze the opportunities and challenges critical to the success of the retail industry in the region.

For more information visit: http://www.rncos.com/Report/IM196.htm