Recently published research from Business Monitor International, "Kuwait Retail Report Q4 2013", is now available at Fast Market Research
Boston, MA -- (SBWIRE) -- 11/27/2013 -- The Kuwait Retail Report examines the long-term potential of the local consumer market, but flags shortterm concerns about the impact on Kuwait's economic outlook of depressed capital spending on the part of the government.
The report examines how best to maximise returns in the Kuwaiti retail market while minimising investment risk, and also explores the impact of the possibility of oil prices declining further than expected on the Kuwaiti consumer and on the ability of producers and exporters to realise returns in the short term.
The report also analyses the growth and risk management strategies being employed by the leading players in the Kuwaiti retail sector, as they seek to maximise the growth opportunities offered by the local market.
Kuwaiti per capita consumer spending is forecast to increase by 27.6% to 2017, compared with a regional growth average of 47.2%. The country comes fifth (out of seven) in BMI's Middles East and Africa (MEA) Retail Risk/Reward Ratings, although it underperforms slightly for risk. Among all retail categories, consumer electronics will be one of the outperformers through to 2017 in growth terms. Sales are forecast to increase by 29% between 2013 and 2017, from US$1.10bn to US$1.42bn, on the back of a high-earning, tech-literate population. In the competitive arena, BMI sees upside potential in trade liberalisation, with the elimination of customs duties within the Gulf Cooperation Council continuing to stimulate the market; and in telecoms deregulation and 3G expansion, which will drive competition in value-added services and support spending levels on handsets.
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Over the last quarter, BMI has revised the following forecasts/views:
- BMI expects the Kuwaiti economy to remain on a moderate expansion path heading into 2014, with growth supported by robust private consumption and a modest rise in oil production and exports. We have left our forecasts unchanged, and project real GDP growth of 3.0% for 2013, before slowing slightly to 2.6% in 2014.
- Private consumption activity has stayed robust over the last few years, supported by recurrent salary hikes and handouts, as well as by low interest rates and abundant liquidity conditions. We expect these trends to continue over the coming quarters, and forecast private expenditure growth of 3.5% and 3.0% in 2013 and 2014 respectively.
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