The Kingdom of Saudi Arabia has entered an advanced stage in implementing its Vision 2030, beginning to reap the rewards of its ambitious plans launched in 2016. The Vision is no longer merely a plan on paper; it has transformed into a tangible reality reflecting significant leaps forward across various economic, social, and developmental sectors. The Vision's annual report confirms this transformation, revealing that 93% of performance indicators have met or exceeded their targets, demonstrating the accelerated pace of progress toward achieving its ultimate goals.
Background to the launch of Vision 2030
Saudi Vision 2030 was launched on April 25, 2016, under the patronage and guidance of His Royal Highness Prince Mohammed bin Salman bin Abdulaziz, Crown Prince and Prime Minister. This roadmap emerged as a strategic response to the need to diversify the economy and reduce reliance on oil as the primary source of revenue. The Vision is based on three main pillars: a vibrant society, a thriving economy, and an ambitious nation. It aims to unleash the potential of non-oil sectors, develop public services such as healthcare, education, and infrastructure, and enhance the entertainment, tourism, and culture sectors.
Accelerating economy... new record highs
The figures reveal a structural transformation in the Saudi economy, with non-oil activities now contributing more than 55% of GDP, which approached SAR 4.9 trillion. Non-oil GDP grew by 4.9%, reflecting the success of diversification policies. Non-oil exports also rose to SAR 622 billion, and foreign direct investment more than doubled to SAR 133 billion, compared to SAR 28 billion in 2017. The Public Investment Fund (PIF) plays a pivotal role as an engine of growth, with its assets increasing to SAR 3.41 trillion and contributing to the creation of more than one million jobs since 2018, while focusing on local content, which reached 60% in its projects.
A vibrant society and an increasing quality of life
The Vision's achievements were not limited to the economic sphere; they extended to the quality of life for citizens and residents. Life expectancy rose to 79.7 years, and the percentage of adults engaging in physical activity weekly increased to 59.1%. The housing sector also witnessed a significant leap, with homeownership among Saudi families reaching 66.24%. In the Hajj and Umrah sectors, the Kingdom welcomed over 18 million pilgrims from abroad, exceeding its target. On the social front, women's participation in the labor market reached 35%, and women now own 48% of commercial registrations.
Growing regional and international influence
Vision 2030 has strengthened the Kingdom’s position on the international stage. In the area of digital competitiveness, the Kingdom has advanced 32 places in the e-Participation Index since 2016, reaching seventh place globally. The number of Saudi sites inscribed on UNESCO’s World Heritage List has also doubled to eight. The Kingdom has become a global tourist destination, welcoming 123 million tourists, with tourism spending reaching a record high of SAR 304 billion. In the area of sustainability, desalinated water production has doubled, more than 151 million trees have been planted, and renewable energy production capacity has increased to 46 gigawatts, reflecting the Kingdom’s commitment to its green initiatives and its positive impact on the environment regionally and globally.
