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Monday, 1 April, 2019 - 08:15
Department stores will provide one million jobs in Saudi Arabia by 2020. (Reuters)
Riyadh - Fatehelrahman Yousif
Department stores will provide one million jobs for Saudis by 2020, backed by the localization of national industry and introduction of female workers in shops, according to economists.
The social insurance statistics showed that by the end of 2018, Saudi salesmen in malls reached 254,000 and saleswomen reached 124,000.
In 2018, malls amounted to 42 percent of the domestic tourist traffic for shopping and entertainment, and 56 percent of the departing tourist traffic, according to figures from the Tourism Information and Research Center (MAS).
Member of the Saudi Economic Association, Abdullah al-Maghlooth told Asharq Al-Awsat that department store revenues are estimated at more than $37.5 billion, pointing out that there are over 2,000 malls in the Kingdom, with 400 located in Riyadh.
Maghlooth said that the need for such shopping centers is encouraging many investors to enter the Saudi market. He added that the number of malls is on the rise following the expansion of populated areas, which are increasing in size and numbers annually.
He noted that over the past 10 years, dozens of malls have been constructed, at a cost of over $18.6 billion.
Economist Abdullah Baeshen said that malls have become attractions and places of entertainment rather than mere shopping centers as was the case two decades ago. He added that Vision 2030 events of the entertainment industry are now held at malls.
He explained that the change in marketing methods was a natural result of competition and increased the number of malls.
Due to Saudi Arabia’s natural environment and the long summer season, shopping centers have become important places for families to meet, making them a preferred location for citizens and foreign residents.
Economically speaking, business centers have contributed more than any other sector to the process of localization, because most of the jobs they offer do not require high expertise or rare specialties.
https://aawsat.com/english/home/article/1659761/saudi-arabia-malls-will-provide-million-jobs-2020
Department stores will provide one million jobs in Saudi Arabia by 2020. (Reuters)
Riyadh - Fatehelrahman Yousif
Department stores will provide one million jobs for Saudis by 2020, backed by the localization of national industry and introduction of female workers in shops, according to economists.
The social insurance statistics showed that by the end of 2018, Saudi salesmen in malls reached 254,000 and saleswomen reached 124,000.
In 2018, malls amounted to 42 percent of the domestic tourist traffic for shopping and entertainment, and 56 percent of the departing tourist traffic, according to figures from the Tourism Information and Research Center (MAS).
Member of the Saudi Economic Association, Abdullah al-Maghlooth told Asharq Al-Awsat that department store revenues are estimated at more than $37.5 billion, pointing out that there are over 2,000 malls in the Kingdom, with 400 located in Riyadh.
Maghlooth said that the need for such shopping centers is encouraging many investors to enter the Saudi market. He added that the number of malls is on the rise following the expansion of populated areas, which are increasing in size and numbers annually.
He noted that over the past 10 years, dozens of malls have been constructed, at a cost of over $18.6 billion.
Economist Abdullah Baeshen said that malls have become attractions and places of entertainment rather than mere shopping centers as was the case two decades ago. He added that Vision 2030 events of the entertainment industry are now held at malls.
He explained that the change in marketing methods was a natural result of competition and increased the number of malls.
Due to Saudi Arabia’s natural environment and the long summer season, shopping centers have become important places for families to meet, making them a preferred location for citizens and foreign residents.
Economically speaking, business centers have contributed more than any other sector to the process of localization, because most of the jobs they offer do not require high expertise or rare specialties.
https://aawsat.com/english/home/article/1659761/saudi-arabia-malls-will-provide-million-jobs-2020
