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The Report: Saudi Arabia 2024: Security, Aerospace & Defence
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Global military expenditure reached a record $2.4trn in 2023, driven by rising tensions worldwide, with Saudi Arabia allocating $75.8bn – a 4.3% increase from 2022 – representing 7.1% of its GDP and ranking fifth globally for overall military spending. The Kingdom’s defence industry is expanding through joint ventures and strategic partnerships, with new facilities like Al Kharj, expected to…
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The Report: Saudi Arabia 2024: Industry & Mining
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Saudi Arabia’s industrial and mining sectors are key to its diversification and privatisation efforts, supported by public investment, regulatory reforms and growing foreign direct investment. The Ministry of Industry and Mineral Resources, established in 2019, oversees these sectors and implements the 2020 Mining Investment Law. With the National Industrial Development and Logistics Programme,…
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The Report: Saudi Arabia 2024: Energy & Utilities
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Saudi Arabia’s energy strategy focuses on maximising returns from hydrocarbons while expanding renewable energy capacity. Acknowledging peak oil demand could occur before 2030, the Kingdom is investing in clean energy solutions. With plans to produce 50% of its energy from renewables by 2030, Saudi Arabia is diversifying its energy mix. The National Renewable Energy Programme and Circular Carbon…
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The Report: Saudi Arabia 2024: Transport
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As part of its Vision 2030 roadmap, Saudi Arabia is rapidly expanding its transport and logistics sector to support economic diversification. Major projects in roads, ports, public transport and air connectivity are receiving significant public funding, with a focus on sustainability and technological innovation. The Ministry of Transport and Logistics Services oversees these initiatives, including…
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The Report: Saudi Arabia 2024: Health & Life Sciences
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Saudi Arabia’s health and life sciences sectors are undergoing a transformation driven by the Health Sector Transformation Programme and the National Biotechnology Strategy, creating significant opportunities for private sector investment. The government plans to invest $66bn in health care infrastructure between 2021 and 2030, with up to 65% from the private sector. This includes expanding hospitals,…
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The Report: Saudi Arabia 2024: Education & Training
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Saudi Arabia’s education system is undergoing significant transformation under Vision 2030, aiming to close the skills gap and support economic diversification. Reforms focus on expanding private education, promoting international schools and increasing enrolment in technical and vocational education. The Ministry of Education and the Technical and Vocational Training Corporation oversee the system,…
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The Report: Saudi Arabia 2024: Construction & Real Estate
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Saudi Arabia’s construction and real estate sectors are thriving, with a $1.5trn project pipeline driving economic transformation under Vision 2030. The Kingdom leads global construction activity, with developments ranging from luxury resorts to urban projects. Key initiatives include the National Infrastructure Fund, which aims to support up to $53.3bn in investment by 2030. The sector’s growth…
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The Report: Saudi Arabia 2024: Legal Framework
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Saudi Arabia is leading environmental protection through ambitious laws and policies, aligned with Vision 2030. A major initiative is the Green Riyadh project, one of the world’s largest afforestation efforts, aiming to transform Riyadh into a sustainable green city. The Kingdom introduced the Environment Law in 2021, focusing on pollution control, waste management and resource conservation. Saudi…
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The Report: Saudi Arabia 2024: Tourism & Culture
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Saudi Arabia’s tourism industry has transformed rapidly since the Kingdom began issuing tourist visas in 2019. As part of its Vision 2030 plan, the government is investing heavily to make the country a global tourist destination, aiming to boost tourism revenue to $85bn in 2024. The sector is expanding with new hotels, entertainment venues and attractions, and is targeting 150m visitors annually…