Saudi fashion market to reach $30 billion in 2023, could reach $42 billion in 2028

The Saudi fashion industry contributed 2.5 percent of the kingdom's gross domestic product (GDP) last year, compared with 1.4 percent in 2022, and the estimated value of the Saudi fashion market in 2023 was about $30 billion, and is expected to reach $42 billion by 2028, according to the 'State of the Fashion Sector in Saudi Arabia 2024' report recently launched by the Saudi Fashion Commission in London.

Jobs in Saudi Arabia's fashion sector are expected to rise to 320,000 by 2023, with the proportion of women in the fashion workforce at 52 percent in the year, a Saudi news outlet reported.

Saudi Arabia’s fashion industry contributed 2.5% to the kingdom’s GDP last year, up from 1.4% in 2022, and the estimated value of that market in 2023 was about $30 billion, and is expected to reach $42 billion by 2028, a government report revealed. Jobs in the Saudi fashion sector rose to 320,000 in 2023, and the proportion of women in the fashion workforce was 52% in the year.

Commission Executive Director Burak Cakmak announced the launch of a data hub that will publish the State of Fashion Report and make it publicly available, showcasing opportunities across the entire value chain.

The annual report provides insights into the fashion landscape in Saudi Arabia and reveals interesting trends and opportunities for growth and investment. It covers fashion, luxury goods, jewelry, cosmetics and business.

Fibre2Fashion (DS) Press Desk


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