Fashion sales in the Kingdom of Saudi Arabia (KSA) are expected to surge by 48 per cent from 2021 to 2025, at a compounded annual growth rate of 13 per cent, indicated Saudi Fashion Commission’s report titled ‘The State of Fashion in the Kingdom of Saudi Arabia 2023’.
This growth is expected to be fuelled by the Kingdom’s economic expansion and a growing population, with apparel, accessories, footwear and luxury goods all poised for significant gains. While women’s apparel market is forecast to grow by 20 per cent by 2027, men’s fashion market, although smaller than women’s, is expected to grow by 27 per cent from 2022 to 2027.
Given the boldness of Vision 2030 and its focus on growing non-oil GDP the contribution of the private sector to the Saudi economy and the greater inclusion of women in economic activity, fashion has the potential to be a major driver of the strategy.
In fact, in 2022, Saudi Arabia’s fashion industry comprised 52 per cent female employees. A total of 66 per cent of all fashion jobs within the Kingdom were held by Saudi nationals. Of the total 230,000 fashion jobs, 90,000 were in core fashion occupations, where employment is strictly supporting the fashion industry, and 140,000 in non-core supporting/ancillary occupations existing in the fashion and other sectors.
