How many saudi’s does it take to make a deposit?
I really wish I did not have to write this piece, however, my experience yesterday at the bank left me wanting to shout a thousand things to the manager. My apologies in advanced for my lack of humor in the title, but it got your attention right?
Planning on opening a business in Saudi? Think again.
The Middle East has been a hotspot for new business opportunities and Saudi Arabia was not going to miss out on the economic success of its Gulf neighbors. Saudi has been working round the clock to build up it massive economic city near King Khaled Airport and is easing its regulations for Saudis and foreigners alike to obtain business licenses. I should mention this is a huge step forward, it used to be that non-Saudis had to have a Saudi partner to open any business. No need to mention that system did not work well and kept investors at a distance.
So what kind of market does Saudi have? Well, it seems no matter how many clothing stores or restaurants open in this country people are willing to spend on something new. Not only that, but the shear demand for products not available in the Kingdom opens the way to new services and business opportunities. This no doubt leads to more spending which leads to economic growth in all sectors. However, I am not here to teach economics. I barely got through macro-economics in college.