Following a dip in 2016, Saudi Arabia’s college-aged population has grown once again and is forecasted to reach a cohort of about four million 18-to-24-year-olds by 2025, up from a little more than three million today. All told, about half of the current population (of approximately 33 million) is under the age of 25.
Saudi Arabia’s food sector is the largest across the Middle East. According to conservative estimates, the consumer spending on food services is expected to grow by 6% annually during the next 5 years’ time. Furthermore, food consumption is estimated to reach SR 221B by the end of 2021. The Kingdom, being the largest regional consumer market with population size of approximately 34 million, offers expansive business opportunities in the diverse products within the food sector.
The rising population and the lack of affordable housing has always been a challenge for the government. As a result of which, Vision 2030 is investing a considerable amount of money in housing and infrastructure development projects as part of the recently-announced initiative to expand the population of Saudi Arabia within the coming decades