As global uncertainty tests economies worldwide, Saudi Arabia’s approach stands out for its discipline and direction. Instead of chasing quick wins, Saudi Arabia is sequencing reforms, managing risk and doubling down on the sectors that will deliver lasting impact.
The global environment remains volatile. Oil prices are under pressure, financing costs are high and geopolitics are shifting fast. Yet Saudi Arabia’s response has been steady and strategic. Non-oil activity continues to drive growth, with the IMF projecting mid-single-digit expansion. Public debt remains low by G20 standards at 26.2 per cent of GDP in 2024. Foreign investment rose 24 per cent last year to $31.7 billion, too, led by manufacturing – a sign of deepening investor confidence in the kingdom’s industrial base.
As the ninth Future Investment Initiative convenes in Riyadh this week, Saudi Arabia’s message is clear: long-term prosperity comes from focus. It is channelling capital and policy effort into sectors that build skills, create jobs and generate sustainable returns.
Tourism is one of Saudi Arabia’s most dynamic growth engines. Its contribution to GDP is moving toward 10 per cent, supported by new destinations, transport links and hospitality capacity. The planned King Salman International Airport, designed for 120 million passengers a year, will place Riyadh among the world’s top ten aviation hubs by 2030. Alongside new carriers and the Air Connectivity Program, these investments are expanding access and linking the kingdom to new visitor markets.
Sport is also extending Saudi Arabia’s reach and visibility. The turnaround of Newcastle United, acquired by a Saudi-led consortium in 2021, illustrates how strategic investment and professional governance can deliver both cultural and commercial dividends. Club revenue now approaches £320 million [$426m], with a return to the UEFA Champions League underscoring on-field progress.
The Riyadh Esports World Cup brought together global audiences and local demand, drawing three million attendees and 340 million hours of viewing online. Backed by the Public Investment Fund [PIF], Savvy Games Group plans to invest up to $38 billion in gaming and esports by 2030. Its partnership with Unity, the global game engine developer, will train local talent and speed up game development in the region.
Technology and AI are central to the Kingdom’s future strategy. The Saudi Data and Artificial Intelligence Authority (SDAIA) is expanding local data capacity and developing Saudi talent. The launch of HUMAIN, a PIF-owned company operating across the AI value chain, reinforces this effort.
Saudi Arabia’s diversification is also grounded in real assets and industrial depth. Mining and critical minerals are expanding from roughly $17 billion today to a target of $75 billion by 2030. Commodities such as copper, zinc, gold and potash are vital to the global energy transition, and Saudi Arabia is moving to capture more value through domestic processing and integrated industrial zones like Ras Al Khair and Yanbu.
Housing and real estate remain essential to inclusive growth. The Real Estate Balance platform, launched by the Royal Commission for Riyadh City, allocates serviced plots to citizens to stabilise prices and expand access. Meanwhile, the new foreign ownership law, set for 2026, will open designated zones to global investors, bringing in capital while safeguarding affordability and cultural integrity.
These developments are underpinned by a new kind of governance discipline. Each initiative is sequenced for maximum impact: clear objectives, tight fiscal control, transparent delivery and the agility to adjust when needed. This focus is becoming one of Saudi Arabia’s greatest advantages.
Of course, no strategy is risk‑free. Project lead times, commodity cycles, affordability trade‑offs and localisation needs all require careful management. However, the kingdom’s experience in managing these risks while focusing on results offers lessons to other emerging economies. First, in a multipolar world, independence is essential. Diversified partnerships and domestic capability are strategic imperatives, not luxuries. Second, purposeful direction shortens the distance from intent to impact. Vision alone does not transform an economy – execution does.
As global investors gather in Riyadh for FII, they will find a country advancing with confidence and composure. Saudi Arabia’s transformation is not about scale alone, but about quality, resilience and strategic focus.
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