The credit bureau coverage in Saudi Arabia has shown significant growth over the years, starting from a 44.3% coverage in 2013 to 69.2% in 2023. The year-on-year variations demonstrate a dynamic landscape, with notable spikes such as a 25.9% increase in 2018 and fluctuations like a 10.28% decrease in 2019. The CAGR for the past five years, ending in 2023, stands at 1.83%, showing moderate growth. Forecasts suggest a continued upward trend with an expected coverage of 81.2% by 2028, highlighting a forecasted 5-year CAGR of 2.52% and overall growth of 13.25%.
Future trends to watch for include:
- Increased digitalization and technological advances in credit reporting.
- Government policy changes and regulatory impact on credit systems.
- Improved financial inclusion strategies bolstering credit bureau coverage.
