Kuwait City: Fitch Solutions confirmed the brisk opportunities in the Kuwaiti home and furniture goods market, explaining that savings amassed over the previous two years prompted consumers to renovate their homes in Kuwait. According to the agency's report, the country's high per capita income, population growth, and large number of expatriates increase consumption, benefiting household goods and furniture companies in this market. The agency predicted that household goods and furnishings would account for approximately 17% of total household spending in Kuwait this year, making them the second largest category within monthly household expenditure after personal expenditure, explaining that factors such as population growth, income growth, and urbanization would lay strong foundations for medium-term growth in the home goods and furnishings market between 2022 and 2026. Spending on household goods and furnishings in Kuwait is expected to rise in the medium term relative to other sectors, reaching 17.7% of total household spending in 2026.
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