New Transportation market report from Euromonitor International: "Transportation in Saudi Arabia"
[ClickPress, Wed Oct 22 2014] 2013 witnessed record impressive growth of 7% in transportation in current value terms, to reach SR32.9 billion. This was largely driven by the strong growth of air transportation, as most of the other modes of transportation lack the proper infrastructure and development for growth. Saudi Arabia lacks a proper rail network, with mostly just the presence of intercity buses run by SAPTCO. Air transportation is therefore the largest source of travel for most of the public, carrying 26 million people in 2013. 2013 saw the strong growth of low-cost carrier Nasair, which engaged in aggressive price competition, offering extremely low fares to many local and international destinations, in addition to expanding its fleet and adding more destinations. This helped the overall growth of transportation.
Air transportation is expected to show the strongest growth in terms of value sales, registering a CAGR of 4% during the forecast period at constant 2013 prices. Within air transportation, charter is expected to witness the strongest value CAGR of 13% at constant 2013 prices. This is largely due to the thriving economy leading to higher disposable incomes, resulting in an increase in charter air travel. The growing business landscape will also lead to growth in charter, as this premium service is largely utilised by business travellers. In terms of number of passengers, however, low-cost carriers is set to see a strong CAGR of 11% over the forecast period. As the government loosens the regulatory reins, more low-cost carriers are expected to enter the market, with Qatar Airways and Gulf Air starting their operations from 2014 onwards. Furthermore, existing low-cost carrier Nasair is also expected to expand its fleet and add more destinations, as well as adding more flights to current destinations, as part of its growth strategy. With such developments ongoing in air transportation, backed by deregulation and the lack of development in other areas of transportation, air transportation is set to see impressive growth in the forecast period.
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Discover the latest market trends and uncover sources of future market growth for the Transportation industry in Saudi Arabia with research from Euromonitor's team of in-country analysts.
Find hidden opportunities in the most current research data available, understand competitive threats with our detailed market analysis, and plan your corporate strategy with our expert qualitative analysis and growth projections.
If you're in the Transportation industry in Saudi Arabia, our research will save you time and money while empowering you to make informed, profitable decisions.
The Transportation in Saudi Arabia market research report includes:
* Analysis of key supply-side and demand trends
* Detailed segmentation
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