We have come a long way since Michael Aldrich invented electronic shopping in 1979 and with time, watched in disbelief how e-commerce transformed traditional retail business worldwide.
In a bid to boost bilateral economic cooperation and further diversify the non-oil economy, Saudi Arabia and Oman signed deals worth 30 billion USD on 7th December 2021.
Though the covid pandemic has slowed down all global economies, the GCC’s retail market is projected to grow by almost 22 percent to approximately USD 308 billion in 2023 with the UAE and Saudi Arabia leading from the front and accounting for the major share of retail sales over the coming five years.
Despite the cultural, political and economic dissimilarities, the largest Arab economy and biggest oil exporter Saudi Arabia has long enjoyed a close relationship with certain European countries including the UK, France and Germany.
The COVID pandemic has had a devastating impact on businesses, and economies all over the world and Saudi Arabia is no exception.