Jeddah: Saudi Arabia presents a promising market for Thai entrepreneurs, as revealed by Kriengsak Kanjanapokin, CEO of Index Creative Village Public Company Limited, following his recent visit to Jeddah. He noted that the portrayal of Saudi Arabia in Western media does not align with the reality, highlighting the potential for growth and investment in the region.
According to Thai News Agency, Jeddah is emerging as a major port and trading city in the Middle East, similar to Shanghai. The city is noted for its relaxed, international atmosphere and serves as the gateway to Mecca, welcoming over 30 million pilgrims annually. This influx contributes to a vibrant economy and trade environment.
The "Saudization" policy has significantly increased the purchasing power of Saudi citizens, with salaries for locals far surpassing those of foreigners. This economic condition has fostered a thriving lifestyle, evident in the bustling shopping malls and supermarkets, and has made gasoline affordable at approximately 20 baht per liter.
Thai products and culture are gaining popularity in Saudi Arabia, with a notable presence in local supermarkets. Thai culinary items such as "Tom Yum Goong" and "Mango Sticky Rice" have become standard offerings in tourist areas, showcasing the growing influence of Thai culture in the region.
Business sectors with high potential in Saudi Arabia include construction materials and home furnishings, agriculture and tree planting, and health and wellness services. These sectors align with the Vision 2030 plan and the increasing demand for quality services.
Index Creative Village is planning to host the "International Mega Fair" in Jeddah this December, aiming to provide Thai entrepreneurs with a platform to explore this burgeoning market. Kriengsak Kanjanapokin emphasized that Saudi Arabia is a "Blue Ocean" market, offering vast opportunities due to high demand and limited supply, urging Thai entrepreneurs to seize this chance before the market becomes saturated.