Saudi Arabia recently announced 93% of Vision 2030 key performance indicators (KPIs) have either been achieved or are close to being met. According to the 2024 annual report, 674 out of 1,502 initiatives launched since the programme’s inception have been realised.
Saudi Tourism Targets Way Ahead of Schedule
Moreover, the report detailed significant achievements across various sectors. Notably, eight KPIs have already surpassed 2030 targets ahead of schedule, including the listing of Saudi heritage sites on UNESCO’s World Heritage List. Similarly, the Kingdom also eclipsed its tourism goal of attracting 100 million visitors well ahead of the 2030 deadline. Further accomplishments include a significant reduction in the national unemployment rate and a rise in female workforce participation to 34%. In digital governance, Saudi placed seventh globally in the United Nations’ E-Participation Index and sixth in the UN’s E-Government Development Index.
Non-Oil Growth Increasing Due to Government Initiatives and Incentives
Additional progress was reflected across several economic indicators that exceeded 2024 interim targets, including foreign direct investment (FDI) inflows. In addition, increases in private sector contributions to Gross Domestic Product (GDP) and the expansion of Public Investment Fund’s (PIF) assets were also achieved. Importantly, Non-Oil GDP growth is continuing to increase thanks to government support including significant business reforms and generous investment incentives. Demonstrating the success of such policies, over 571 global headquarters of regional companies are already established in the Kingdom. On a social welfare front, an increase in Saudi home ownership rates and the improvement of quality healthcare was recorded. As a result, the Kingdom’s position on the World Happiness Index is also close to achieving its target. Regarding education, the number of Saudi universities ranked among the world’s top 200 met interim goals.
Saudi Vision 2030 Launched in 2016
The Kingdom’s Vision 2030 was launched in 2016 and aims to diversify Saudi Arabia’s economy, foster innovation and position the Kingdom as a leading global investment and cultural hub.
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