Retail and wholesale trade accounts for a sizeable percentage of Kuwait’s non-oil GDP – at 9.1% as of February 2018 – and there are solid growth forecasts for the coming year. Kuwait has one of the highest per capita incomes in the world at $68,500 in 2017, according to the World Bank, and there is strong demand for luxury and imported goods among wealthy locals and foreign residents, who now make up around 70% of the population. Kuwait’s retail sector saw significant growth in 2017 as new and old players rushed to adapt to changing tastes and demands. Innovative malls and increased competition from e-commerce retailers have started reshaping the local market. These trends are expected to continue into 2019 as stable macroeconomic fundamentals and government infrastructure programmes boost growth and encourage investment.

Articles from this chapter

Cover of The Report: Kuwait 2018

The Report

This chapter is from the Kuwait 2018 report. Explore other chapters from this report.

Covid-19 Economic Impact Assessments

Stay updated on how some of the world’s most promising markets are being affected by the Covid-19 pandemic, and what actions governments and private businesses are taking to mitigate challenges and ensure their long-term growth story continues.

Register now and also receive a complimentary 2-month licence to the OBG Research Terminal.

Register Here×

Product successfully added to shopping cart