KSA population is 30.8m; 33% expats

Updated 31 January 2015
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KSA population is 30.8m; 33% expats

Saudi Arabia’s population stood at 30.8 million at the end of 2014, a 2.6 percent rise from 2013, according to data released by the Kingdom’s Central Department of Statistics and Information (CDSI).
There were 20.7 million Saudis, making up 67 percent of the population, while the number of foreigners stood at 10.1 million or 33 percent, according to an analysis conducted by the economics reporting unit of Al-Eqtisadiah newspaper.
The population had grown by 2.7 percent from 2012 to 2013, amounting to 29.2 million people. This consisted of 20.3 million Saudis and 9.7 million foreigners.
The CDSI said that the country’s Gross Domestic Product (GDP) stood at SR2.82 trillion at the end of 2014, while per capita GDP was SR91,700.
Per capita GDP had grown by 9 percent over the past 11 years, an annual increase of SR4,900.
The highest per capita GDP growth was between 2004 and 2005, when it grew by 23 percent, or from SR43,000 to SR52,800.
According to the analysis, per capita GDP dropped 19 percent between 2008 and 2009, from SR87,600 to SR63,400, as a result of the global financial crisis.
Al-Eqtisadiah had estimated that the Kingdom’s population would reach 37.2 million by the year 2020 based on the average annual growth rate over the past nine years.


LuLu opens Saudi Arabia's largest store in Riyadh

Updated 14 min 44 sec ago
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LuLu opens Saudi Arabia's largest store in Riyadh

JEDDAH: LuLu Group recently opened its 150th hypermarket in Riyadh. It was inaugurated by Ibrahim Al-Omer, governor of Saudi General Investment Authority (SAGIA); Ibrahim Al-Suwail, deputy governor of SAGIA; along with Sheikh Shakhbout bin Nahyan Al-Nahyan, UAE ambassador to Saudi Arabia; Yusuff Ali M.A., LuLu Group chairman; Shehim Mohammed, LuLu Saudi director; and other dignitaries and royal family members.
Located at the newly launched Atyaf Mall in Yarmouk, the hypermarket, the 13th in the country and the Kingdom’s largest, is spread across 220,000-square-feet.
Yusuff Ali M.A. said: “We are absolutely delighted to open our group’s 150th and Saudi Arabia’s 13 hypermarket in Riyadh and I am sure the shoppers here will be pleased by the new retail experience we have created. Through our internationally sourced quality products and enthusiastic staff, LuLu has been the most preferred destination for different nationalities and we will continue to preserve this identity with our new store.”
He added: “We see tremendous growth opportunities in the Kingdom and are glad to be part of the Vision 2030 by further expanding our presence here. We will open another 15 hypermarkets by 2020 at an investment of SR1 billion ($266 million) out of which five will be opened this year itself. This includes three hypermarkets in Riyadh followed by one each in Tabuk and Dammam. This is apart from the SR1 billion we have already invested in the Kingdom till now.”
The group currently employs more than 3,000 Saudi nationals, out of which 1,400 are women, amounting to 40 percent of Saudization.
“Our goal is to give employment to 6,000 Saudi nationals by the end of 2020. We have a very elaborate and effective multi-level training program, through which we not only train them here but also send the local recruits to other regions in the GCC and India for training in various departments. We have also tied up with Saudi vocational institutions and universities in this regard,” the LuLu Group chairman said.