Marketing in Kuwait Market
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This is most of the citizens of Kuwait Islam. There are no official statistics on followers of Islamic religions in Kuwait, but it is estimated that 70% of Kuwaiti citizens are Sunni and 30% Shiite.
If you have noticed, the Arabs prefer to wear clothes that completely cover their arms and legs, and their wives often cover their faces with veils, but in Kuwait, due to a large number of immigrants, there is a special style of clothing for the people this country.
Kuwait is very suitable for anthropological researchers interested in learning about the culture of nations, if you are one of these people, do not miss a trip to Kuwait.
Currency of Kuwait:
The Kuwaiti currency is the dinar, the Kuwaiti dinar, like other currencies of oil-exporting countries, is directly dependent on the dollar. The Kuwaiti Dinar is freely convertible and its exchange rate is announced daily.
Kuwait is the fifth richest country in terms of oil reserves and has so much capital that it has been able to cope well with the expenses and expenses of immigrants. Although Kuwait is in a good economic situation, it can still be said that it is completely dependent on its oil exports and about 85% of its income comes from this way. These issues have made gas prices cheaper than water in Kuwait.
Following the 2014 rout in oil prices, GCC economies have been struggling to adapt to the new oil reality. GCC countries experienced a direct hit on their fiscal balances as government expenditure had not been adequately controlled following years of abundant spend.
With future deficits looming, Kuwait has followed the regional trend of pursuing economic and fiscal reform programs. These programs are comprised of multiple initiatives that seek to support economic diversification, strengthen private sector contribution to the economy and help maintain the deficit under control.
The country's economy is largely based on oil and fossil fuels. However, the share of the tourism sector in the Kuwaiti economy cannot be ignored. Kuwait has been a destination for many Iranian and foreign tourists since ancient times.
This trend has continued so far with an almost positive slope. Kuwait's agriculture accounts for a very small share of its economy. In many cases, agriculture accounts for less than one percent of GDP.
This has made the Persian Gulf country one of the main importers of food, especially from the United States. Stability and tranquility are the hallmarks of Kuwait's economy.
This stability has led many economic actors around the world to choose Kuwait as their center of activity. The table below provides relevant information on the state of the Kuwaiti economy based on data from international organizations.
The above information shows that Kuwait's economy is in very good condition and economic actors can safely do business with this country. This information also helps us to have a good perspective on the economic situation of this country on the Persian Gulf.