Furniture sales in Saudi Arabia has rapidly grown over the past years on the back of rising affluence, influence of Western culture and tourism development, the SBWire said on Thursday. Despite the economic slowdown, the industry has posted growth rate, SBWire online said, adding that furniture sale is anticipated to grow at around 12 percent in 2011-2013. That makes the Kingdom one of the most attractive furniture markets in the Middle East, it said. Citing its own research, SBWire said the Kingdom's hotel industry has emerged as “one of the flexible pillars of economic development” in the country. “Institutional investors are increasingly focusing on stable, secure and more predictable income streams as opposed to short-term capital gains, which favor the hotel sector,” it said. The Kingdom's Central Region is considered to be a major hub for the country's furniture manufacturing industry with Riyadh, Qassim ad Hail as the most preferred places making furniture, SBWire said. Qassim and Kharj, famous for agricultural activities, are also know for woodworks and, with their favorable regulatory policies, have shown “notable developments in the furniture industry.”
