Car rental continued to see steady current value growth in 2019, albeit at a slower rate than that seen the previous year. This was part down to the fallout from the introduction of VAT at the end of the review period, as well as the hike in petrol prices with state-owned Aramco increasing the local price of petrol at its petrol stations in 2019.
While booking car rental in an office remains preferable among traditional Saudis, tech-savvy and younger consumers value convenience and are more comfortable with using online platforms to compare prices and fleet types among the various car rental providers. Thus, a growing consumer group is opting to book online.
With a poor transportation network, car rental services are considered reasonable options for travelling across Saudi Arabia and thus the country is the largest market for car rental services in the Middle East region, with a strong presence of leading global brands, such as Budget Rent a Car, Avis, Hanco, Hertz and Europcar. Most of these players have been traditionally focused on corporate rental programmes and leasing services, working with local partners to establish lease agreements with multinationals operating in the country.
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This industry report originates from Passport, our Travel And Tourism market research database.