Middle East and Africa: A Region of Contrasting Automotive Opportunities
Sub-Saharan Africa is projected to experience the greatest population growth and the fastest urbanisation rate of all the world’s regions in the coming decade. This will naturally drive consumer demand overall but with car ownership possible once a household’s annual disposable income exceeds US$5,000, transport is predicted to be the fastest growing category of consumer spending in sub-Saharan Africa. Carmakers are therefore increasingly drawn to the region but there are stark contrasts in the opportunities across the entire Middle East and Africa region and one strategy does certainly not fit all.
Our latest automotive briefing, “Middle East and Africa: A Region of Contrasting Automotive Opportunities,” reviews the economic and demographic outlook for Sub-Saharan African countries, compares the potential for car markets across the entire Middle East and Africa region and highlights the contrasts, exemplified by Nigeria and Saudi Arabia.