The Saudi Arabian economy has more than doubled in size since the country launched its Vision 2030 nine years ago.
Speaking at the Fortune Global Forum Conference 2025 in Riyadh, Minister of Investment Khalid Al-Falih stated that the Saudi economy is approximately US$1.3 trillion now, compared to US$650 billion in 2016.
The minister also added that 85 per cent of Vision 2030’s programmes and initiatives have been completed or are on track for completion by the end of 2024. He noted that investment in the Kingdom has increased from 22 per cent five years ago to 30 per cent at present.
Al-Falih told the forum that Vision 2030 has created a flexible environment for global companies, enabling them to relocate their regional headquarters to Riyadh, bringing their total number to 675. The target, according to the minister, was to have 500 regional headquarters by the end of 2030.
Another target that has been achieved six years ahead of time is women’s participation in the workforce, which has reached 37 per cent.
Al-Falih added: “Unemployment also declined from 30 per cent to seven per cent, due to the economic reforms implemented with Vision 2030.”
The minister stated that the contribution of non-oil sectors to Gross Domestic Product (GDP) increased to 56 per cent, compared to 40 per cent before launch of the vision.
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