The Saudi Tadawul Index has closed as follows in past four years:
Closing Price of 2007 - 11,038.60
Closing Price of 2008 - 4,802.99
Closing Price of 2009 - 6,121.76
Current Value - 6,526.45
What figure do you estimate for the end of 2010?
Think Tank Average prediction: 7,666
The Think Tank panelists were more optimistic in their reading of Saudi Arabia’s bourse’s fortunes than Dubai’s – their confidence reflected in a prediction considerably higher than the 6,121 finishing price for 2009.
Saudi’s insulation from the financial crisis by virtue of its abundant oil supplies was cited as a factor for the collective confidence, as was the strong growth in consumer spending witnessed over the first quarter of this year - a trend that most analysts expect to continue.
Certainly Saudi Arabia’s economy, which is the largest in the Middle East, has continued to attract strong investment interest from foreign institutions this year.
In fact, Saudi, which this year’s hopes to break in the ranks of the top ten best business cities in the world, was viewed as a country ripe in opportunity for the right investor.