Saudi Arabia Travel Bag Market - Infiniumglobalresearch.com

Saudi Arabia Travel Bag Market: Prospects, Trends Analysis, Market Size and Forecasts up to 2026

Report Code: SA00790 Country : Saudi Arabia Published: April, 2021

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The country research report on Saudi Arabia's travel bag market is a customer intelligence and competitive study of the Saudi Arabia market. Moreover, the report provides deep insights into demand forecasts, market trends, and, micro and macro indicators in the Saudi Arabia market. Also, factors that are driving and restraining the travel bag market are highlighted in the study. This is an in-depth business intelligence report based on qualitative and quantitative parameters of the market. Additionally, this report provides readers with market insights and a detailed analysis of market segments to possible micro levels. The companies and dealers/distributors profiled in the report include manufacturers & suppliers of travel bag market in Saudi Arabia.

Market Insight

The demand for traveling bags is increasing day-by-day owing to the growth of industrialization, economic standards of people, tourism and, fashion consciousness. These bags are convenient goods used for carrying the belongings such as clothes, daily-use articles, and other essentials during traveling. Although this product is manufactured from various types of materials such as polyester, aluminum, ballistic nylon, polycarbonate, leather, polypropylene, and others. A leather traveling bag is having wider acceptance due to its superior strength, and aesthetic look among middle and high-income group people. There is ample scope of leather traveling bag units with easy and considerably cheaper availability of indigenous raw material.

Growing domestic tourism is primarily driving the growth of the Saudi Arabia travel bag market. The government of Saudi Arabia is encouraging domestic tourism in order to tap into the huge amounts that Saudis spend annually on vacations. Saudis visiting any place in Saudi Arabia other than the two religious pilgrimage cities of Makkah and Madinah. The total number of domestic tourist trips in Saudi Arabia grew 6.1 percent in 2019. Furthermore, domestic tourist expenditures also grew from $11.9 billion to $13 billion. In addition, the Saudi government prioritizes the development of several megaprojects underscores its commitment to providing a diverse array of tourism destinations to attract domestic and international tourists. For instance, the larger megaprojects like Neom and the Red Sea have completion dates estimated between 2026 and 2031 and are expected to attract substantial foreign direct investment and create tens of thousands of jobs across the tourism, entertainment, and accommodations sectors. Additionally, the government has been engaged in an ambitious bidding effort for staging rights of major international sporting events, hosting the Race of Champions motorsport event, a PGA European Tour golf event, and most recently the Clash on the Dunes boxing heavyweight title fight. Again Saudi government hosted the five-stage cycling Saudi Tour and the inaugural Saudi Cup horse race. These entertainment investments highlight the government’s effort to make the Kingdom an attractive destination for both domestic and international travelers. Again, growing urbanization, increasing consumer spending power, and the strong retail industry in Saudi Arabia are driving the growth of the Saudi Arabia Travel bag market. However, the availability of counterfeit products is affecting the growth of the market. Moreover, Saudi Arabia lifted Travel Restrictions on Saudi Women will provide a significant growth opportunity for the Saudi Arabia travel bag market.

The negative impact of COVID-19 on the travel and tourism industry directly affected the travel bag market in Saudi Arabia, as travelers and tourists are the major users of travel bags. Nevertheless, as the pandemic crisis has been contained, the travel and tourism sector is growing at its normal rate. Several planes and ships arriving to and departing from Saudi Arabia were canceled during the period of the pandemic. Moreover, the government has put strict restrictions on travelling abroad as well as travelling to the country.

Segments Covered

The report on Saudi Arabia travel bag market provides a detailed analysis of segments in the market based on luggage type, material type, price range, and distribution channel.