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FINANCIAL NEWS
Saudi mid-market enterprises record USD232b turnover
08 May 2015
(MENAFN) Saudi Arabia’s mid-market enterprises (MMEs) are set to generate a turnover of USD232 billion into the country’s economy, according to a report by The HSBC Group, Arab News reported.
The reported identified MMEs as companies that enjoy yearly sales ranging from USD50 million to USD500 million. It added that those kinds of firms have a 10.3 percent share in Saudi Arabia’s GDP.
The report said that there are a number of 1,980 MMEs in Saudi Arabia, with total indirect and induced effects in Saudi reaching USD74.3 Billion and providing 770,000 jobs.
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