Saudi Arabia News
Saudi Govt. Plans for Closure of Retails Shops at 9 PM
Government of Saudi Arabia have plans to close all Retails Shops at 9 P.M due to which there might be a loss of around 46 Billion Saudi Riyals in Retail Businesses across the Country. Also many people who are working in Retails shops may lose jobs due to cut in working hours.
This plan was proposed so that it would bring down the actual shopping time to 4 hours (5 PM to 9 PM) because people will not get much time for shopping because of official and business engagements and hot climate.
Though this will give short span of time for people living in Saudi Arabia for shopping which is unlike western countries.
This plan will also give Saudi who are working in Retail sector to spend more time with their family and will also give them much time to rest and increase the efficiency of their work.
Currently 1.2 million jobs in retail are occupied by Expatriates who are ready to work 15 hours daily. Saudis, who find it difficult to compete with foreigners, have taken only 300,000 jobs in the sector, which can play a vital role in solving the Kingdom’s unemployment problem
“Early closure of shops will also change Saudis’ consumption style, bringing it closer to international patterns,” the report said.
Total spending of consumers in the Kingdom is estimated at SR416 billion, of which 35 percent or SR146 billion is spent after 9 p.m., the report explained.
About 20 percent of this amount goes to food and drinks, 15 percent to clothing and furniture, 30 percent to restaurants and hotels. The report feared a delay in spending SR20 billion in the retail sector until people change their style of shopping.
News related to Expatriates, Jobs, Real Estate, Insurance, Banking and more. Subscribe Us now! and Keep yourself updated.