Internet User Penetration and Vision 2030 is helping the KSA Personal Finance Market grow since the past 5 years: Ken Research


Posted December 7, 2022 by Anita111

According to Ken Research estimates, the KSA Personal Finance Market is expected to grow at a CAGR of 15.7% in the forecasted period of 2022-2026F, owing to the New Government Policies under Vision 2030 and New Players in the Market.

 
Internet User Penetration has increased significantly over the last few years at a CAGR of 7.1%

The internet user penetration in KSA has risen significantly from 2017 to 2021. The Personal Finance Market in KSA is thriving to grow at a faster pace as people prefer to buy online much more now and proper marketing can provide the players in the market with an opportunity to grow.

Visit @ https://www.kenresearch.com/banking-financial-services-and-insurance/financial-services/ksa-personal-finance-market-outlook-to-2026/596186-93.html

Saudi Arabians have been taking personal loans more than ever before for different purposes.

The KSA Personal Finance Market is seen to be on the rise as the people of Saudi Arabia take much more loans. The majority of Saudi Arabians take personal loans for purpose of wedding which accounts for the majority of the loans taken at 40% followed by loans for renovation & home improvements and consumer durables.

With loans being taken, the outstanding credit can be seen rising rapidly at a CAGR of 8.5%.

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The overall outstanding credit has risen significantly over the period of 2017-2021 which has allowed the KSA Personal Finance Market to grow, mainly due to growing consumption needs of Saudis. The average household consumption expenditure has exhibited strong signs leading to the growth of personal finance market.
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Issued By Ken Research Pvt. Ltd.,
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Business Address Ken Research Pvt. Ltd.,
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Country Saudi Arabia
Categories Banking
Last Updated December 7, 2022