Marketing in Saudi Arabia Market
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Saudi Arabia, officially the Kingdom of Saudi arabia (Arabic: المملکة العربیة السعودیة), is the largest country in West Asia. It covers most of the Arabian Peninsula to the north with Iraq, Jordan, and Kuwait to the east with the United Arab Emirates, Qatar, and the Persian Gulf to the southeast with Oman. It is bordered by Yemen to the south and the Red Sea to the west. There are important Muslim religious sites such as the Kaaba, Baqiya Cemetery, the Prophet's Mosque, and the tomb of the Prophet of Islam in this country.
With an area of 2,149,000 square kilometers, Saudi Arabia is the largest country in West Asia (Middle East) and the second-largest Arab country after Algeria. The country has a population of more than 34.7 million, including 21.5 million indigenous people and more than 13 million immigrants.
New Saudi Arabia (Kingdom of Saudi Arabia) was founded in 1932 by King Abdulaziz. However, the wars and conflicts that led to the formation of the country began in 1902 with the capture of Riyadh, the ancestral home of Al Saud, by King Abdul Aziz. Saudi Arabia is an absolute monarchy. The religion of Islam has emerged in this country.
Saudi Arabia is one of the largest producers and exporters of crude Oil in the world. It holds about one-fifth of the world's proven Oil reserves. Oil accounts for 95% of exports and 70% of government revenues. Recently, however, non-Oil exports have increased. Saudi Arabia's energy resources have made this desert kingdom one of the richest countries in the world. Extensive Oil revenues have led to the country's rapid modernization and the creation of a welfare state. Saudi Arabia also has the sixth-largest natural gas reserves in the world.