The growing importance of the infrastructural sector in Saudi Arabia is driving the demand for facility management in Saudi Arabia. The government is investing heavily in the infrastructural sector, and this is leading to a need for more facility managers in the region. According to a new report, the Saudi Arabian government plans to create a $4-billion tourism development fund in 2020, which is expected to drive the growth of the facility management industry in the country.
Technology Advancements
Technological advancements such as augmented reality, artificial intelligence, robots, and smart technology are driving the industry. The growing quantity of construction operations also aids the industry’s expansion. The expansion of the tourism industry is a major driver of the market. The economy is likely to grow further, making the country a desirable investment location for foreign investors.
Demand Is Really High
Facilities management services are in high demand around the country. The rising tourism industry in Saudi Arabia has necessitated the hiring of more facilities management specialists, resulting in the market’s expansion. Furthermore, the Saudi Arabia Ministry of Tourism’s recent announcement to establish a dedicated tourism development fund is likely to increase the demand for facility management in the kingdom. While these advancements will be beneficial to the sector, they will also limit the market’s growth.
Growth Expectancy
In addition to the rapid construction of educational facilities and plastic factories, the market for facility management in Saudi Arabia is expected to grow rapidly. The market will be dominated by the private sector by 2020. However, there are a number of factors that will influence the growth of the market. While the government’s vision for infrastructure investment in Saudi Arabia is a key factor, a number of other factors will also affect the industry. The Saudi government has also made significant investments in the private sector, which will drive the demand for facility management in the kingdom.
Reduce Dependency on Oil Revenue
The Saudi government is promoting industry localisation, which will help GCC countries’ economies by lowering their reliance on oil earnings. The GCC area has been experiencing economic difficulties since the late 1990s as a result of rapid depletion of hydrocarbon reserves. To tackle this, governments have implemented a number of initiatives aimed at boosting the economy and expanding job prospects in the facilities management industry. These measures will aid Saudi Arabia’s economic growth and development while also providing job possibilities for the facility management profession.
Focus on Tourism
The government relations firms in Saudi Arabia focus on tourism is a major contributor to the economy of the country, which has boosted the demand for facilities management in the region. The recent launch of a tourism development fund is expected to increase the demand for facility management services and to boost the industry. In addition, the Kingdom is also home to a wide range of foreign companies, including large multinationals such as Engie Cofely.
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