Wall Street Journal – Four years ago, Saudi Arabia made up a small proportion of business at Lightblue, a creative experience and tech agency based in Dubai. These days, 40% of its business comes from the country, says co-founder David Balfour, who opened an office in Riyadh last month as a result.
“The conversation used to be, ‘We’re going to do this in Dubai.’ Now, it’s ‘We’re going to do this in Dubai—and in Saudi.’” Balfour said. “We’re seeing massive growth in that region.”
There have been speed bumps. As government spending reaches huge levels, Saudi Arabia experienced a rare economic contraction in 2023.
But the country’s efforts to expand its economic pursuits beyond oil have led to the creation of new brands, which are seeking the help of marketing agencies to get the word out.
Marketers in the region are seeking help to stay on-trend in areas such as generative artificial intelligence and social media, said Greg Paull, principal of R3, a consulting firm that helps match advertisers with agencies.
“U.A.E. has been a magnet for the region for 20 years as more investment has come in—but with the new leadership in Saudi since 2017 [when Mohammed bin Salman was named crown prince], this market has gone through remarkable growth,” Paull said.