Report : Saudi Arabia Manpower Outsourcing Market Forecast to 2028 - COVID-19 Impact and Analysis by Type (Technical Staff, Sales &
Expansion in Hospitality and IT Industries Fuels Saudi Arabia Manpower Outsourcing Market
According to the latest market study, titled “Saudi Arabia Manpower Outsourcing Market Forecast to 2028 – COVID-19 Impact and Analysis – by Type, and Industry,” the Saudi Arabia manpower outsourcing market size is projected to reach US$ 5,487.3 million by 2028 from US$ 2,694.2 million in 2021. It is expected to rise at a CAGR of 10.7% from 2021 to 2028.
The Saudi Government is undertaking several firm initiatives to advance the country’s economy through industrialization. The country is striving hard to emerge as one of the prominent economies in terms of commercialization and industrialization among the Saudi Arabia manpower outsourcing market and across the world. The Government is increasingly attracting foreign direct investments (FDIs) and local investments to establish more manufacturing units, food processing units, retail shops, hotels, hospital and healthcare centers, and educational institutes. For instance, the Government unveiled an infrastructure, education, and amenities project in Riyadh worth US$ 22 Bn in 2019. These projects include 16 educational centers and seven medical & healthcare cities. This initiative is anticipated to create job opportunities from various expertise for both local Saudis and foreign nationals, which is further foreseen to drive the businesses of the Saudi Arabia manpower outsourcing market companies in Saudi Arabia and internationally.
In January 2019, the Government launched a program to attract investments from local and foreign investors worth US$ 427 Bn for the development of various industries and the logistics sector. Out of the total scored investment, the Government aims at spending US$ 27 Bn in industries, such as logistics, mining, and energy. This scheme offers many job opportunities for Saudi nationals and expats in the region in the coming years. Thus, different initiatives by Saudi Arabia’s Government are anticipated to bolster the Saudi Arabia manpower outsourcing market growth during the forecast period.
In the current scenario, another slowly growing sector is the e-commerce industry. It has the potential to attract customers in the coming years. In the recent past, the e-commerce industry has flourished significantly in developed countries and developing nations, including some of the GCC countries. The increasing penetration of the internet and smartphones has led Saudi youths to opt for online retail in the current Saudi Arabia manpower outsourcing market status. The trend is expected to continue in the future. An increase in the e-commerce industry possesses substantial job opportunities in the Saudi Arabia manpower outsourcing market, which is anticipated to propel the businesses of the Saudi Arabia manpower outsourcing companies in the coming year. In addition to the retail and e-commerce industry, Saudi Arabia is also experiencing a fair growth rate in the entertainment industry. The event organizing companies in the country are majorly start-ups or smaller companies that outsource their recruitment procedures, which is expected to help the Saudi Arabia manpower outsourcing companies to soar over the next few years.
Saudi Arabia manpower outsourcing market analysis by type, Saudi Arabia manpower outsourcing market is categorized into technical staff, sales & marketing, office/admin staff, and others. Saudi Arabia manpower outsourcing market analysis by industry, the Saudi Arabia manpower outsourcing market is divided into manufacturing, retail, ITES & Telecom, food & beverages, BFSI, hospitality, and others.
Ajeets Management & Hr Consultancy, Adam Recruitment, PROVEN SA, Talents Hunters, TASC Outsourcing, Advanced Electronics Company, MASSADR, Knowledge Group, Alliance Recruitment Agency, and NES Fircroft are the key companies profiled in this study. Several other Saudi Arabia manpower outsourcing market players also contribute significant revenue year-on-year to Saudi Arabia manpower outsourcing market share.
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