2017 proved a momentous year for the Kingdom of Saudi Arabia as the various strategies related to the country’s Vision 2030 and National Transformation Plan 2020 started to take shape.
How can investments in downstream assets increase local petrochemical outputs?
Stronger energy revenue for much of the year and liberalisation reforms have helped Saudi Arabia’s economy rebound in 2018, though falling oil prices late in the year and the potential fallout over security issues could affect growth moving forward.
Saudi Arabia’s banking sector is on track to see its first merger in nearly two decades amid efforts to expand credit growth into targeted sectors, which comes as lenders across the board are poised to benefit from higher interest margins.
The insurance sector is expected to be a key beneficiary of Saudi Arabia’s recent decision to lift its ban on female drivers, a move that should also have a strong impact on automotive sales and services industries.
Efforts to encourage greater private sector participation have coincided with strong growth in Saudi Arabia’s mining sector, a key part of the country’s diversification strategy and a prominent driver of broader economic expansion.
Saudi Arabia’s heritage tourism credentials were given a boost in late June, following UNESCO’s decision to add Al Ahsa Oasis to its list of World Heritage sites.