Survey reveals how Saudi millennials spend money

The study reinforces that millennials in Saudi Arabia are embracing online and mobile-first platforms for shopping.
Updated 31 March 2019

Survey reveals how Saudi millennials spend money

A new study released on Tuesday explores how millennials in the Kingdom think about and value money, as well as how they spend their income.
The research — commissioned by Snapchat in partnership with business intelligence firm Cassandra — comes at a time when millennials (those aged between 18-34 years) have more than $3 trillion of disposable income globally, with their spending power predicted to grow to 33 percent of all consumer spending over the next decade. Around 27 percent of the Saudi population are millennials.
Overall, the study reinforces that millennials in Saudi Arabia are embracing online and mobile-first platforms for shopping. Mobile shopping is popular, with 85 percent saying that they use their smartphones for shopping either the same amount or more than they did last year.
“Understanding millennials in Saudi Arabia is crucial as their economic power will only grow as they age up,” said Julie Caironi, senior measurement lead at Snapchat. “As this Cashing-In study shows, millennial attitudes and preferences are different to other generations, especially when it comes to online behavior and digital spending habits.”
Aside from where they are shopping, the study also explores how millennials are spending. Half of the respondents (53 percent) say that they stick to a budget, with price being the top consideration for them when buying anything, followed by quality and then the availability of discounts or coupons. Moreover, nearly two in three millennials (63 percent) would be willing to postpone a purchase decision to make sure they get the best price on a product or service.


Line-up for FIKR17 conference in Saudi Arabia announced

Updated 13 November 2019

Line-up for FIKR17 conference in Saudi Arabia announced

The Arab Thought Foundation has announced the agenda of this year’s annual conference, FIKR17, in partnership with King Abdulaziz Center for World Culture “Ithra”, held under the theme “Towards a New Arab Thinking.”
The conference will be held in Dhahran, Saudi Arabia between 2-5 December 2019.
FIKR17 will bring together high-level officials, politicians, intellectuals, and media personalities led by Prince Khalid Al-Faisal, President of the Arab Thought Foundation, and Arab League Secretary General Mr. Ahmed Aboul Gheit. Over the course of FIKR17, these thought leaders will provide deep understanding and paths to solutions for key questions facing the Arab World and its future, including:

  • What are the challenges of technology, science and modern approaches to knowledge?
  • Where are we currently from renewing our societies and social concepts?
  • Where does the Arab individual stand within the international system, and how does he tackle the subject of globalization while defending an interactive identity that is open to the world?
  • Where are Arab intellectuals in their attempts to renew the Arab thought, and in building a renewed philosophy capable of making contributions to the global effort of contemporary thought?

Conference Program Details
Monday, December 2: FIKR17 will open with a formal ceremony at 7:00 pm, including a speech by Professor Dr. Henry Awit, Director General of the Arab Thought Foundation, followed by a speech from the representative of “Ithra”, the Lead Partner of the conference. It will also include speeches by Arab League Secretary General Mr. Ahmed Aboul Gheit and HRH Prince Khalid Al-Faisal, President of the Arab Thought Foundation.
Tuesday, December 3: FIKR17 will start with an opening session titled “Arab Thought and Innovation Prospects,” followed by the first general session entitled “Today’s world…tomorrow’s world: transformations, challenges, and visions”.
In addition, four specialized sessions will be held under the following headlines:. Delivering new educational policies to help build a new Arab Thought, The role of social and human sciences in renewing Arab Thought, New perspectives on the concepts of state, citizenship and participation, Pluralism and the culture of tolerance and social peace.
Wednesday, December 4: The conference will continue with four specialized morning sessions covering the topics of ” Towards a new understanding of growth, Industry and manufacturing:analysis of pillars for development, Digital Economy, The role of civic society in renewing Arab Thought.
In the afternoon, the second general session will be held on the “4th Industrial Revolution” followed by reports on youth discussion groups.
Thursday, December 5: The conference will conclude with detailed reports on the specialized sessions. At 12:00 pm, the third general session titled “Arab Intellectuals and Their Role in Arab Thought Renewal” will be held, followed by the closing remarks.