SaudiArabia’s Vision 2030 blueprint for socio-economic transformation is capturing international attention. Beyond high-profile projects and events, strategic cohesion and societal support are facilitating tangible developments on the ground.This publication examines the key sectors driving the Kingdom’s growth under the National Industrial Development and Logistics Programme (NIDLP),…
The Kingdom of Saudi Arabia is experiencing a period of sustained economic growth, outperforming other G20 nations in 2022. This expansion is attributed to higher global energy prices, resulting in a fiscal surplus and supporting diversification efforts and the non-oil sector.
The Public Investment Fund (PIF) is being harnessed to drive economic diversification. In addition to targeted investment in high-priority sectors, the PIF is developing a growing range of giga-projects and subsidiary entities with a focus on entertainment, sport and tourism. Four of those giga-projects – NEOM (see Innovation chapter), The Red Sea Project, ROSHN and the most recently announced, Diriyah…
As many as 330m people travel for religious reasons each year, according to a UN World Tourism Organisation estimate from December 2014, forming a significant market for countries with attractions of spiritual or sacred value. These trips include pilgrimages, as well as sightseeing trips to important historical and religious sites throughout the year. Additionally, a 2018 report by IGI Global stated…
In 2022 the Middle East witnessed the sharpest relative increase in international arrivals of any region in the world, solidifying its rebound from the disruption of the Covid-19 pandemic and further raising its profile as an increasingly attractive destination for inbound tourism. According to the UN World Tourism Organisation (UNWTO), in 2022 international arrivals in the Middle East recovered to…
Saudi Arabia’s health care sector is in the midst of a period of rapid change, as regulatory efforts are made to enhance the participation of the private sector and create a more dynamic market that can better meet patients’ needs. One of the national health system’s four objectives is to invest in private sector integration to create effective strategic partnerships. This is outlined in the…
With temperatures in cities set to rise in the coming decades, many public and private players in emerging markets are looking to tackle the challenge of extreme heat through technology, sustainable building techniques and the expansion of urban green spaces. Heat Consequences The Covid-19 pandemic helped spur the growth of smart cities, with national and municipal governments tapping into data-collection…
With electric vehicles (EVs) set to become more accessible to drivers around the world – and solid growth trends attracting public and private investment – several emerging markets are looking to expand their EV manufacturing capacity. EV uptake is essential to the global energy transition, as transport remains the industry with the highest reliance on fossil fuels, producing an estimated 37% of…
Key public and private research, development and innovation (RDI) institutions are being harnessed to cultivate domestic and international partnerships designed to foster knowledge-sharing and skill transfer, and reinforce the innovation ecosystem in the Kingdom. Indeed, the Sustainable Partnerships Conference held in Riyadh in November 2022 resulted in 50 partnerships being signed between Saudi universities…
In terms of the filing of international patents, 2022 was a record-breaking year, with higher education playinga significant role in driving innovation and expanding international practices regarding intellectual property (IP). The UNWorld Intellectual Property Organisation (WIPO) reported in February 2023 that 278,100 international patents had been filed globally in 2022, a 0.3% increase…
