Noida, UP India (PressExposure) April 21, 2011 -- According to our research report "Middle East Retail Sector Forecast to 2013", retail has been one of the fastest growing industries in the region for the past few years. Favorable government policy frameworks and active participation of private sector have facilitated the region's retail industry to become one of the world's most desirable retail environments in terms of investments and revenue generation. Further, changing market dynamics, rapid economic development, balancing crude oil prices, rising purchasing power, and strong consumer confidence are strengthening the region's retail industry. Moreover, it is expected that the Middle East retail industry will reach to US$ 682 Billion by 2013, growing at a CAGR of around 13% during 2009-2013.
Ongoing research found that, tourism is one major factor responsible for the growth in the Middle Eastern retail market. Jordan and the UAE are two nations that are promoting tourism at a large scale. The UAE has commenced a campaign that aims to build artificial islands and hotels that are away from the coast of Dubai. Saudi Arabia, which previously resisted any form of tourism, now allows only limited tourist stay. The country may require pondering upon permitting greater tourist access as oil reserves are expected to last for only next 30 years. Though, Yemen and Oman are regarded as underdeveloped countries in terms of tourism, they hold immense potential.
The report outlines that the Middle East is presently witnessing several positive trends in terms of consumer demand, regional coordination, and market access. All of them will prove beneficial to the international as well as regional players for expanding their level of operations and to exploit the opportunities.
The latest industry research titled "Middle East Retail Sector Forecast to 2013" by RNCOS has identified Saudi Arabia and the UAE as the most potential and dynamic retail markets in the region. These two markets have been sustaining their dominance at the retail landscape for over a decade and will continue to do so in coming years. Presence of large expatriate population and majority of region's retail investment in these countries have helped to maintain the growth momentum.
Besides, the report analyzes macroeconomic factors critical to the retail sector along with their impact on the sector. The report also identifies key players in each country and includes their detail business description. Additionally, the report sheds light on the emerging industry trends, which are expected to decide the future of the region's retail sector.
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