MAS Innovation Newsletter July | Page 15

PAGE 15 5% 108 TH ld’s population oldest country in the world In the News…. Saudi Arabia is set to open its first sovereign wealth fund to deal with its burgeoning budget surplus. Saudi Arabia and the United Arab Emirates are readying a financial aid package of $20bn (£12bn) to boost Egypt’s economy Retail Buzz AN OPPORTUNITY TO IDENTIFY ‘WANTS’ AND INNOVATE IN THIS SPACE ? Consumers in Saudi Arabia are spending more on their wants than their needs. Fawaz Abdulaziz Al Hokair and M H Alshaya Continue To Be the Largest Retailers in the Kingdom Saudi Arabia building the world’s tallest skyscraper - The Kingdom Tower in Jeddah will be 1km tall Private Label Struggles To Build A Competing Market Share Continuous Government Legal Framework Development To Boost the Retailing Industry Slow Adoption of Internet Retailing in the Kingdom Sources : Euromonitor/Trendwatching CONNECT WITH MAS INNOVATION please email [email protected] if you have any comments, questions or ideas.