Card lending is expected to keep ascending in growth over the forecast period, owing to the increasing incorporation of digital wallets in the country’s digital payments landscape. This will invariably support the application of card lending.
Despite the rising fuel prices, the automotive sector is still considered to be one of the largest markets in Saudi Arabia. There was a setback to this industry in the post-pandemic landscape, due to a slew of challenges which rise during the time of the pandemic, and automotive sales in 2021 were also affected by higher shipping costs, however, the addition of three million women drivers, both working and non-working, has unlocked a multitude of prospects – including auto lending.
With home lending expected to grow exceptionally well over the forecast period, as supported by the government as well through different national programmes, Saudi citizens purchasing houses will most probably need loans to furnish them lavishly and expensively as well, as is the norm and local trend. Hence, it is expected that home lending and durables lending will witness robust succession over the forecast years.
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Understand the latest market trends and future growth opportunities for the Consumer Credit industry in Saudi Arabia with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
If you're in the Consumer Credit industry in Saudi Arabia, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
Consumer Credit
Non-mortgage consumer debt extended to individuals for personal or household use including installment loans and credit cards. Examples of consumer credit include auto lending, card lending, durables lending, education lending, home lending and other personal loans. Consumer credit includes both revolving and non-revolving credit.
See All of Our DefinitionsThis report originates from Passport, our Consumer Credit research and analysis database.
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