#Expansion
16 posts
Saudi Round-Up: Aviation & Travel Retail Positioned For an Upswing
From recent developments in the aviation sector to major corporate announcements in real estate, this week’s edition from the Saudi Round-Up comprehensively covers the latest updates across strategic sectors in Saudi Arabia. General Business and Economy S&P Upgrades Saudi Arabia’s Credit Rating to A+ S&P Global Ratings raised Saudi Arabia’s credit rating from A to A+ with a stable outlook. The agency attributed the upgrade to sustained economic reforms and diversification efforts, particularly in developing domestic capital markets. Strong non-oil […]
8 Years of Record Growth: AstroLabs Launches Sector Guidebook on Saudi Tourism to Explore Untapped Opportunities
Riyadh, Saudi Arabia, May 13th, 2024: AstroLabs, the Gulf’s leading business expansion platform, is pleased to announce the launch of a comprehensive guidebook that shines a light on the thriving Saudi tourism industry and the Kingdom’s ascendancy as a global tourist destination. In the following years since the launch of Saudi Arabia’s Vision 2030, the Kingdom’s tourism industry has seen phenomenal development fueled primarily by the expansion of diverse types and categories of tourism, causing an upsurge in international visits. […]
Saudi Vision 2030 Progress: How is growth translating into opportunities?
Saudi Arabia’s economy has increasingly garnered attention from across the globe as the Kingdom’s 2030 roadmap progresses to fruition. With the marking of the half-point of this transformative journey, its achievements so far have painted a story of groundbreaking advancement – a historical transformation that only comes around once in a lifetime. The recently launched Saudi Vision 2030 progress report revealed that 87% of the planned initiatives are either completed or are on track, of which 360 are completed and […]
Bespin: Spearheading Saudi Arabia’s Cloud and Data Revolution
The growth of the digital population coupled with the accelerated pace of economic reforms has caused the need for a robust embrace of next-gen technologies. Backed by consistent governmental support and strong digital infrastructure, Saudi Arabia emerged as MENA’s fastest-growing IT market, with technology spending anticipated to be worth $37.5 billion in 2024. At the heart of this monumental shift lies cloud computing technology, the country’s next frontier for economic growth and job creation. Saudi Arabia’s transition towards a cloud-native […]
AstroLabs Unveils AI-Powered Consultant Chatbot to Support Expansion of International Businesses to Saudi Arabia
Riyadh, Saudi Arabia, April 24, 2024: AstroLabs, the Gulf’s leading business expansion platform, is pleased to announce the launch of Najm, the first AI-powered Saudi expansion consultant chatbot. The AI technology is designed to offer customized assistance by providing timely, accurate insights, allowing users to tap into vast knowledge repositories related to various aspects of business setup processes in Saudi Arabia, ranging from licensing and softlanding to regulatory frameworks. As the Saudi market increasingly becomes the next destination for growth, […]
zenda: Creating Cashless Education Systems in Saudi Arabia
In strategizing for a digitally-led economy, Saudi Arabia has been working to advance financial inclusion as a key tenant to embracing sustainable economic growth. The Kingdom’s fintech industry, as a result, has significantly grown over the past few years, with the growth attributed to its thriving e-payments sector, digital banking, and the increasing consumer demand for digital financial services. This measured progress is partly driven by strong IT and digital infrastructure, rapidly expanding 5G network coverage, coupled with a tech-savvy […]
Saudi Arabia Set to be the Second-Fastest Growing Economy: Closer Look Saudi’s Economy Progress
Since the announcement of Vision 2030, Saudi’s economic progress has further accelerated the ease of doing business. Recently, IMF announced that the Kingdom is slated to be the second-fastest-growing economy, after India, in 2025 with an upgraded forecast for Saudi Arabia’s economic growth in 2025 from 5.50% to 6%. Concurrently, international companies are increasingly directing their attention to Saudi Arabia to capitalize on the endless sea of opportunities across various sectors. This is further highlighted in our “2024 Saudi Market […]
doobi expands to Saudi with AstroLabs to Bring Digital Innovation to the Consumer Services Sector in Saudi Arabia
Riyadh, Saudi Arabia – AstroLabs, the leading business expansion platform in the Gulf, has expanded doobi, a laundry subscription platform, to the thriving market of Saudi Arabia. By infusing innovative technologies into the conventional method of laundry services, doobi is set to transform the laundry experience in Saudi with its state-of-the-art technology and customer-centric approach. This strategic move aligns with the Kingdom’s vision to become digital-first, fueled by its high internet penetration and tech-savvy population. Doobi has already made an […]
Lenskart: Gaining First-Mover Advantage in the Saudi Eyewear Market
Saudi Arabia offers the largest consumer market in the Gulf region, with a population exceeding 32 million. A rapidly expanding economy, paired with population growth and a subsequent rise in consumer demand, lays a sturdy foundation for the growth of the retail and e-commerce markets. The retail sector, in particular, is a significant economic construct, forecast to be worth SAR159 billion ($42 billion) in 2024, with its share of non-oil GDP at 22.8% in the third quarter of 2022. Vision […]
Business Expansion Activity Across Saudi Arabia Sees 4X Increase Since 2018, Says AstroLabs’ 2023 Saudi Market Entry Report
Riyadh, Saudi Arabia, February 6, 2024 – AstroLabs, the leading business expansion platform in the Gulf, has released the first-of-its-kind “2023 Saudi Market Entry Report”, uncovering the current opportunities and business unlockers for companies that are exploring their entry or already operating in Saudi Arabia, a global sought-after market destination for innovation. With the roadmap of Saudi Vision 2030 completing its halfway mark, the Kingdom is increasingly attracting global and regional businesses seeking to leverage the first mover advantage as they […]
Nomad Homes: Harnessing Innovation and Perseverance in the Gulf’s Proptech
The Gulf is witnessing an extraordinary surge in proptech initiatives, which is redefining the traditional real estate landscape to a more efficient, transparent, and user-friendly framework. This past decade, we have seen this sector mature from its nascent phase of digitized listings to its current zenith, powered by emerging technologies including AI and VR. Within this rapidly expanding sector in the Gulf, proptech pioneers like Nomad Homes are embracing disruptive technologies that give them an edge in the global real […]
Konn Technologies: Pioneering Proptech in Saudi Arabia
Coupling technology with real estate, Proptech is becoming one of the driving forces of growth in Saudi Arabia and the Gulf region. The Saudi government’s visionary plans to develop smart cities, and reach a 70% rate of homeownership for Saudis in the Kingdom has singled out Proptech as a key sector for growth and development. Saudi closed the year with two ground-breaking announcements in Saudi; the hosting of FIFA 2034 and the Riyadh Expo 2030. As the nation gears up […]