Why Saudi Arabia ?
Saudi Arabia is one of the world’s 25 largest economies and the largest free market economy in the MENA region. Saudi Arabia’s 2019 budget revealed a record spending worth 1.106 trillion Saudi riyals which is a 7.3 percent growth rate compared to 2018.According to figures announced by the Saudi Ministry of Finance, the expected revenues in 2019 are estimated at 975 billion riyals with a nine percent growth rate compared to 2018.
Saudi Arabia will play a significant role within the 28$ billion digital signage sector, This growth will be largely driven by the country’s growing retail, commercial, healthcare, tourism, education and infrastructure sectors. Global digital signage industry is expected to touch 23.02$ billion by year 2023. Investments within the government and educational sector and the need for enriched user experience and subsidized prices for display panels will all facilitate the growth of this sector.
Several mega projects in the GCC region are in various stages of construction. With mega projects like commercial establishments, theme parks and other major projects will trigger the need for high-end digital signages in this region. Despite the oil and market conditions, the retail establishments in the middle east market are upbeat on this digital signage technology Multimillion projects in Saudi Arabia include King Abdullah Economic City in Rabigh; The Knowledge Economic City in Madinah; Jazan Economic City; King Abdulaziz International Airport; Saudi Landbridge rail project andRiyadh Metro project. The readiness of country to spend on infrastructure will augment the growth of the digital signage industry particularly in the retail and amusement sector.
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