Increasing participation of women and expatriates catalyse Saudi Arabia Consumer Finance Market
Coupled with increasing
participation of women and expatriates, rising population, increasing standard
of living and surging demand for luxurious products to drive Saudi Arabia
consumer finance market through 2022
According to a TechSci Research report, “Saudi Arabia Consumer Finance Market By Type, Competition Forecast & Opportunities,
2012-2022”, Saudi Arabia consumer finance market is
projected to grow to $344 billion by 2022. The growth of consumer finance market
in Saudi Arabia is propelled by factors such as increasing women participation
in workforce (according to Ministry of Civil Services, number of
Saudi female employees in government sector shot up from around 450 thousand in
2014 to 469 thousand in 2015), rising number of expatriates in the country,
surging demand for housing and low interest rate scenario compliant with Islamic
banking. In 2016, the growth in the consumer
finance market has been witnessed in the country, owing to availability of
beneficial and innovative finance products to consumers coupled with increasing
focus of the country towards diversifying into non-oil
economy.
Browse 4 market data Tables and 34 Figures
spread through 89 Pages and an in-depth TOC on"Saudi Arabia Consumer
Finance Market"
https://www.techsciresearch.com/report/saudi-arabia-consumer-finance-market-by-type-unsecured-consumer-finance-and-secured-consumer-finance-competition-forecast-opportunities/954.html
Al Rajhi
Banking & Investment Corporation, National Commercial Bank, Riyad Bank, Saudi
British Bank, and Samba Financial Group are some of the leading
players in the Saudi Arabia consumer finance market in 2016, which are
expected to maintain their dominance during the forecast period, owing to
rising demand for sharia-compliant Islamic consumer finance products. In 2016, the
country’s Northern & Central region dominated the market, followed by Western, Eastern and
Southern regions. According
to SAMA, in 2015, Northern & Central region of Saudi Arabia had 623 commercial
bank branches by the end of 2016. Increasing presence of financial entities is
expected fulfill financial requirements of consumers, and this will further
drive the consumer finance market in the region in the coming years.
Download
Sample Report @ https://www.techsciresearch.com/sample-report.aspx?cid=954
Customers can also
request for 10% free customization on this report.
Unsecured consumer finance accounts
for the majority share in the country’s consumer finance market, the segment’s
dominance is expected to continue during the forecast period. “Rising
demand and availability of sharia-compliant Islamic consumer finance products
in the country, growing population and increasing inflow of expatriates due to
rising employment opportunities coupled with favorable government initiatives
such as implementation of the 2.5% tax of unused/white land to revive the
shortage of residential houses, are few of the major factors that are expected to
steer the growth of consumer finance market in Saudi Arabia in the coming years.”
said Mr. Karan Chechi, Research
Director with TechSci Research, a research based global management consulting
firm.
“Saudi Arabia Consumer Finance
Market By Type, Competition Forecast & Opportunities, 2012-2022” has
evaluated the future growth potential of consumer finance market and provides
statistics and information on market structure, size, share and future growth.
The report is intended to provide cutting-edge market intelligence and help
decision makers take sound investment evaluation. Besides, the report also identifies
and analyzes the emerging trends along with essential drivers, challenges and
opportunities present in the Saudi Arabia consumer finance market.
About TechSci Research
TechSci Research
is a leading global market research firm publishing premium market research
reports. Serving 700 global clients with more than 600 premium market research studies,
TechSci Research is serving clients across 11 different industrial verticals. TechSci
Research specializes in research based consulting assignments in high growth and
emerging markets, leading technologies and niche applications. Our workforce of
more than 100 fulltime Analysts and Consultants employing innovative research
solutions and tracking global and country specific high growth markets helps
TechSci clients to lead rather than follow market trends.
Contact
Mr. Ken Mathews
708 Third Avenue,
Manhattan, NY,
New York – 10017
Tel: +1-646-360-1656
Email: [email protected]