1.3 million commercial registrations in Saudi Arabia; 33.7 percent and 38.6 percent were owned by Saudi women and young men respectively

The overall number of commercial registrations in Saudi Arabia increased to 1.3 million in the third quarter of 2023, with Saudi women and young men owning 33.7 percent and 38.6 percent, respectively. The issuing of commercial registrations increased by 16 percent in the third quarter of 2023 compared to the same quarter in 2022. Commercial registration increased by 2.3 percent in the third quarter compared to the second quarter of the year. During the third quarter of this year, the percentage of registrations issued to women reached 29 percent. These numbers were published in the Ministry of Commerce's quarterly report for the business sector. The report also noted a strong increase in business registrations in e-commerce and other promising areas in the Kingdom during the third quarter of 2023.

According to the data, telecare and telemedicine centres increased by 33%, with over 757000 registrations compared to 568000 registrations in the same quarter of 2022. Riyadh led the way with around 404 registrations, followed by Makkah (190), the Eastern Province (66), Madinah (29) and Al-Qassim (15). The third-quarter growth rate of e-commerce registrations reached 12%, with more than 36300 commercial registrations compared to 32300 registrations in the same quarter last year, according to the bulletin.

The top five regions in terms of registrations were Riyadh (14500), Makkah (more than 9200), Eastern Province (5900), Madinah (1800), and Al-Qassim (1200). Commercial registrations in the sector of financial technology solutions increased by 21%, with over 2800 registrations compared to over 2300 registrations in the third quarter of 2022. The Riyadh region had the most registrations, with 1700, followed by Makkah (588), Eastern Province (279), Madinah (84) and Al-Qassim (44). There was a 12% increase in the sector of customised software design and programming at the end of the third quarter, with more than 9000 registrations compared to more than 8000 registrations in the same period previous year. Riyadh had the most registrations, with over 5500, followed by Makkah (1900), Eastern Province (998), Madinah (225), and Al-Qassim (151).

The field of delivery services via electronic platforms increased by 45 percent, with over 3000 registrations, compared to roughly 2100 registrations in the third quarter of 2022. Riyadh has the most registrations (nearly 1600), followed by Makkah (775), the Eastern Province (291), Madinah (83) and Al-Qassim (61). The growth rate in the category of heritage hotels surpassed 60%, with almost 1500 registrations, compared to 963 registrations in the third quarter of 2022. Makkah had the most registrations (605), followed by Riyadh (545), Madinah (122), Eastern Province (101) and Asir (62).

Growth in the sector of sports academies reached 43%, with over 1000 registrations at the end of the third quarter, up from 715 in the same period previous year. Riyadh has the most registrations (444), followed by Makkah (273), the Eastern Province (119), Al-Qassim (43), and Madinah (40). According to the report, the growth rate in the advertising agencies sector was 19 percent, with around 11800 registrations in the third quarter of 2023, compared to approximately 9900 registrations in the same period last year. Riyadh (7100 registrations), Makkah (over 4000 registrations), the Eastern Province (over 1900 registrations), Madinah (627), and Asir (518) were the top five regions in terms of registrations.

In the real estate brokerage industry, the growth rate reached 35%, with around 19000 registrations, compared to approximately 14000 in the third quarter of 2022. Riyadh (8700), Makkah (6200), Eastern Province (2800), Madinah (973), and Al-Qassim (884) had the most registrations.