Riyadh, KSA
Saudi Arabia is undergoing a transformative economic revolution. Under the Vision 2030 initiative, the country is diversifying its economy, attracting investments, and fostering a business-friendly environment.
Economic Growth and Stability
GDP Growth
Saudi Arabia’s GDP surged by 8.7% in 2022, the fastest rate in over a decade. This remarkable growth is driven by strong oil prices, increased non-oil sector activity, and government investments.
Economic Stability
The kingdom boasts the largest economy in the Arab world. It enjoys substantial financial reserves and a stable currency, providing a secure platform for investment.
Economic Transformation
Vision 2030 is driving unprecedented growth and diversification in Saudi Arabia, reducing oil dependency and expanding into new sectors.
Business-Friendly Reforms
The Kingdom has implemented reforms including 100% foreign ownership in many sectors, creating a fertile environment for investors.
Young, Educated Population
Saudi Arabia boasts a young, educated workforce committed to innovation, positioning the country to become a leading global business hub.
A STABLE ECONOMY
Economic Powerhouse
$1 Trillion GDP (2023): Largest economy in the Middle East, 19th globally. Vision 2030 Impact: Non-oil sectors now contribute 50% to GDP.
Financial Stability
Sovereign Wealth Fund projected to manage $2 trillion in assets by 2030. Low Inflation: Stable inflation rate of 2.8% in 2023.
Investment Attraction
FDI Growth: Attracted $19.3 billion in FDI in 2022. Tax Incentives: 30-year corporate tax exemption for regional HQs.
Economic Milestones
Budget Surplus: $27 billion surplus in 2022, the first in nearly a decade. Labor Participation: 60% participation rate, bolstered by Saudization policies.
Infrastructure and Economic Environment
A YOUNG AND URBANIZED POPULATION
Education Investment
Significant investments in world-class universities and research institutions, such as KAUST and Princess Nourah bint Abdulrahman University.
STEM Focus
Growing emphasis on STEM education, creating a skilled workforce equipped for a modern economy.
Female Workforce
Significant increase in female workforce participation, growing to over 33% by 2022.
Entrepreneurship
Government initiatives like Monsha’at and the Premium Residency Program are boosting entrepreneurship and attracting global talent. A young labor force and upskilling programs drive innovation in fintech, AI, and renewable energy.
A FLOURISHING REAL ESTATE MARKET
Government Support
Supported by the $620 billion Public Investment Fund (PIF). Full Government Support: Grants, subsidies, and funding programs available.
Investor-Friendly Policies
0% income tax. 100% foreign ownership. Stronger investor protections and streamlined dispute resolutions.
Best Cities to Invest
Riyadh
The capital city and business hub, Riyadh is home to several major infrastructure projects, including the King Abdullah Financial District.
Jeddah
Known as the “Gateway to Mecca,” Jeddah attracts millions of pilgrims. It is also a major port city with significant investments in waterfront developments.
Related Projects
