Frost & Sullivan, the Global Growth Consulting firm recently opened its third regional office in the Middle East at the Eastern Province Capital City of Dammam, Kingdom of Saudi Arabia (KSA). The multi-national consultancy also has a presence in Dubai, U.A.E. and Sanabis, Kingdom of Bahrain, in the Middle East.
The large and growing population of the KSA presents one of the most sizable domestic markets in the Middle East region. Over past several years, Frost & Sullivan has been working with many leading companies and family owned businesses in the KSA, assisting them with various aspects of strategy and growth. Our consultants have been working hand in hand with our clients’ teams to identify, strategies and implement growth opportunities in various sectors. The new office in Dammam is the testament to our commitment of continuing partnerships with our clients in the KSA.
On this occasion and speaking about the economic scenario in the KSA, Y.S. Shashidhar, Managing Director, Middle East, North Africa and South Asia, Frost & Sullivan said, “Close to half of KSA’s GDP is still dependent on oil production, which also constitutes 80 per cent of the Government’s income. A large number of basic products consumed in the country are imported, whereas exports mostly consist of petroleum products. Therefore, the KSA continues to have a strategic need to diversify its economy to non-oil sectors, primarily manufacturing, that currently constitutes just around 10 per cent of the GDP. The growth in manufacturing sector is also needed, to employ the fast growing population of young engineers and graduates coming out of the universities and technical colleges.”
The KSA’s economy is expected to witness remarkable growth in manufacturing, healthcare, education, infrastructure and utilities sectors over the next several decades. Service sectors will also simultaneously grow immensely in size and scale as it does in the time of economic growth and prosperity. Frost & Sullivan through its global presence, strategic consulting and with a vast industry knowledge will provide solutions on expansion, portfolio optimisation, sustainable businesses, operational improvement, benchmarking etc. which will enable the businesses in the KSA region in their transition to growth. The companies that are best positioned to be benefited from the impending diversification and expansion of the KSA economy are the large number of family groups. These true local entities have been the workhorse of the country’s economic growth in the past and will continue to lead the country to the future.
Frost & Sullivan with its local foothold in the KSA will work on strategising the localisation initiative for manufacturing in critical areas, which are dependent on imports for the largest oil and gas conglomerate, thereby supporting the local family owned businesses and new entrepreneurs to tap into these opportunities and exploit the potential for the future business.
“Leveraging Frost & Sullivan's global industry specific expertise to structure and implement actionable strategies will help clients make lasting improvements to their performance and realize their most important goals. Together, we find value across boundaries, develop insights to act on, and energies teams to sustain success. The value we bring to them is a combination of strategy consulting expertise, and a proven track record of delivery, with unrivalled global scale and experience", added Shashidhar.
In over 45 offices across the globe with more than 1,800 analysts and consultants on ground, Frost & Sullivan brings in the expertise on the most extensive range of industries like Automotive and Transportation, Chemicals, Materials and Foods, Electronics and Security, Energy and Environment, Healthcare, Information and Communication Technologies, Industrial Automation and Process Control, Manufacturing and Process Consulting, Metals and Minerals, Customer Research Management and the Public Sector.
If you are interested in knowing more about the growth opportunities in your industry, please send an e-mail with your contact details – your full name, company name, title, telephone number, company e-mail address, company website, city, state and country to Anita Chandhoke/ Paroma Bhattacharya, Corporate Communications, Frost & Sullivan, at email@example.com / firstname.lastname@example.org.
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