Boston, MA -- (ReleaseWire) -- 04/09/2014 -- Strong private consumption levels, plus access to the latest technologies offer promise in the Kuwaiti market. Kuwait also has a relatively high GDP per capita, mainly fuelled by its hydrocarbon resources. However, its small population means it has smaller sales than other countries in the region.
Headline Expenditure Projections
- Computer Hardware Sales: US$401mn in 2013 to US$421mn in 2014, up 5% in US dollar terms. Form factors such as tablets and ultrabooks will be key growth areas.
- AV Sales: US$484mn in 2013 to US$519mn in 2014, up 7.2% in US dollar terms. Rising incomes, the growing affordability of AV devices and product innovation will drive continued growth.
- Handset Sales: US$218mn in 2013 to US$241mn in 2014, up 10.5% in US dollar terms. Mobile number portability (MNP) and the rapid roll-out of 4G services will drive strong growth in the smartphone market.
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Kuwait's score is 57.5 out of 100, putting it in fourth place in our regional table. The country had been pushed from second to third in the Middle East and Africa region in Q1, and is now behind Qatar, the UAE and Israel.
Key Trends And Developments
The popularity of e-commerce has increased, according to Econsultancy. Online bookings and e-banking are particularly popular. Clothing and airline tickets are two of the most popular online purchases for Kuwaitis. We believe this signifies consumers' increasing confidence in online transactions, and that this is an area poised for strong growth.
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