• Product quality.
• A variety of products from the most famous international brands.
• Competitive prices.
• A highly efficient team.
• After-sales service.
• Product warranty.
• Using environmentally friendly packaging materials.

The Service Sector in the Gulf Cooperation Council (GCC) Countries

According to macroeconomic sector theory, the economy is divided into three main sectors:

1. The Primary Sector: This sector is based on the collection of raw materials and includes mining companies, timber companies, oil exploration companies, as well as agricultural industries and fishing.
2. The Secondary Sector: This sector relies on goods and their sale, such as the automobile industry, furniture manufacturing, and clothing trade, among others.
3. The Tertiary Sector (Services): This sector is responsible for providing and producing services, relying primarily on intangible elements, such as entertainment, healthcare, transportation, hospitality, restaurants, and more. This theory posits that as countries develop, their economies become more reliant on the service sector, in contrast to primitive economies that primarily depend on the primary sector. For example, in the United States, the service sector constitutes 85% of its total economy.

Saudi Arabia:

The service sector is a major sector in Saudi Arabia, encompassing:

• Wholesale and retail trade, restaurants, and hotels.
• Transport, storage, information, and communications.
• Financial services, insurance, real estate, and business services.
• Community, social, and personal services.
• Government services.

Key indicators of the sector in Saudi Arabia:

• The service sector contributes 48.2% to the country’s GDP.
• Wholesale, retail trade, restaurants, and hotels contribute 10.8% to GDP.
• Transport, storage, information, and communications contribute 6.6% to GDP.
• Financial services, insurance, real estate, and business services contribute 6.4% to GDP.
• Community, social, and personal services contribute 2.5% to GDP.
• Government services contribute 21.9% to GDP.
• In the past year, 100,944 new business licenses were issued in Saudi Arabia, bringing the total to 348,173 licenses.
• The wholesale and retail trade sector, including motor vehicle and motorcycle repair, accounted for 48,242 licenses, followed by accommodation and food services with 16,531 licenses, and construction with 11,521 licenses.

Qatar:

• The wholesale and retail trade sector in Qatar is valued at 50,083 million Qatari riyals.
• The number of establishments operating in wholesale and retail trade: 11,139.
• The number of employees in this sector: 213,954.
• Total compensation for employees in this sector: 11,288,877 thousand Qatari riyals.
• Establishments in the hospitality and restaurant sector: 2,396.
• Number of employees in hospitality and restaurants: 78,194.
• Compensation for hospitality and restaurant workers: 2,947,431 thousand Qatari riyals.
• Mobile phone subscribers (regular plans): 976,015.
• Prepaid mobile phone subscribers: 2,941,556.
• Roads paved in the past year: 2,224 km.
• New driver’s licenses issued: 242,923.
• Compensation for workers in the transport and communications sector: 24,338,223 thousand Qatari riyals.
• Number of insurance documents issued: 715,897.
• Number of business services establishments: 4,973.
• Number of employees in business services: 215,285.
• Compensation for workers in business services: 15,347,819 thousand Qatari riyals.
• Private sector employees in social and personal services: 80,569.
• Compensation for workers in social and personal services: 6,127,645 thousand Qatari riyals.

Kuwait:

• Wholesale and retail trade contribute 1,644.3 million Kuwaiti dinars to GDP.
• The restaurant and hotel sector contributes 418.6 million Kuwaiti dinars to GDP.
• Transport, storage, and communications contribute 2,554.5 million Kuwaiti dinars.
• Total paved roads: 91,340,068 square meters.

United Arab Emirates (UAE):

• Wholesale and retail trade, including motor vehicle and motorcycle repair, contribute 12.3% to GDP (172,288 million dirhams).
• Transport and storage contribute 5.9% to GDP (82,461 million dirhams).
• Accommodation and food services contribute 2.3% to GDP (32,357 million dirhams).
• Information and communications contribute 2.9% to GDP (41,347 million dirhams).
• Financial and insurance activities contribute 9.6% to GDP (134,773 million dirhams).
• Number of insurance policies issued: 7,584,607.
• Wholesale and retail trade employs 13% of the total workforce.
• Transport and storage employ 6.2% of the total workforce.
• Accommodation and food services employ 5% of the total workforce.

Oman:

• Oman’s GDP: 29.3 billion Omani rials.
• Wholesale and retail trade contribute 7% to GDP (2,064.7 million Omani rials).
• Restaurants and hotels contribute 1.1% to GDP (308.6 million Omani rials).
• Transport, storage, and communications contribute 5.9% to GDP (1,721.2 million Omani rials).

Global Service Sector:

The service sector is the largest contributor to global GDP, accounting for more than three-fifths of total economic output. Unlike manufacturing sectors that produce tangible goods like automobiles and furniture, the service sector is based on intangible services such as banking, healthcare, transportation, hospitality, and entertainment.

• The market value of the global service sector was $10,814.49 billion in 2020.
• By 2021, this value increased to $11,780.11 billion, achieving a compound annual growth rate (CAGR) of 8.9%.
• After recovering from the COVID-19 pandemic, global market experts predict the sector will reach $15,683.84 billion by 2025.
• The service sector is expected to grow at a CAGR of 7% in the coming years.

This data underscores the importance of the service sector both globally and within the GCC, making it a crucial area for economic growth and investment.