The Kingdom of Saudi Arabia

As of 2018, more than 60% of Saudi citizens are 30years or younger. This percentage is likely to further increase in the coming years, as the population of the Kingdom of Saudi Arabia (KSA) is steadily growing. In addition to this demographic characteristic, the effects of the recently pre-sented Saudi Vision 2030 will additionally contribute to a fast change in both economy and society. This visionary document summarizes the country's long-term goals with regard to corporatization, innovation, economic growth, sustainability, education, and the provision of equal opportunities. The KSA—which is already among the 20 largest economies in the world—wants to further climb the ranking, for example, by increasing small and medium enterprise (SME) and private sector contribution, reducing the unemployment rate, increasing female participation in the workforce, more than tripling non-oil exports and increasing foreign direct investment. Based on these funda-mental changes which are already apparent, it is essential for both Saudi and foreign companies to gain a modern understanding of the behavior, preferences, and needs of Saudi consumers in gen-eral and the demographic segment of young Saudi consumers in particular.