Back in 2016, Saudi Arabia set out on an ambitious journey — a plan called Vision 2030 — to transform its economy, reduce its reliance on oil, and build a more vibrant, diversified future. Fast forward to today, and the results are speaking for themselves: the Kingdom has successfully achieved 93% of its key performance goals.
This remarkable momentum shows not just careful planning but a true commitment to change. Saudi Arabia is proving that with vision and determination, bold dreams can turn into reality.
A Thriving Non-Oil Economy
One of the biggest successes so far has been the growth of the non-oil sectors. In 2024, the private sector’s contribution to the GDP reached 47% — even beating the year’s target. Real non-oil GDP rose by 3.9% compared to 2023, fueled by massive investments in tourism, technology, mining, and logistics.
Saudi Arabia’s economy is evolving fast, opening new doors for businesses, investors, and young entrepreneurs across the country.
Creating Jobs and Keeping Inflation Low
Employment is another area where Vision 2030 is making a real difference. By the end of 2024, Saudi Arabia’s unemployment rate for nationals dropped to 7%, reaching a goal that was originally set for 2030 — six years ahead of schedule.
Meanwhile, inflation stayed impressively low, averaging just 1.7% for the year — making Saudi Arabia one of the best-performing economies among the G20 in terms of price stability.
Attracting Global Investors
Saudi Arabia’s push to become a global business hub is clearly working. In 2024, foreign direct investment (FDI) flows reached SR77.6 billion, showing strong international confidence in the Kingdom’s market.
At the same time, the Public Investment Fund (PIF) — a powerhouse of Saudi economic strategy — grew its assets under management to SR3.53 trillion, more than three times its size when Vision 2030 was first launched.
These numbers aren’t just impressive — they tell a bigger story: Saudi Arabia is becoming a serious player in the global economy.
Final Thoughts
As Saudi Arabia moves into the final phase of Vision 2030, the Kingdom stands at a historic crossroads — not as a country dreaming of change, but as a nation already living it.
With a stronger, more diverse economy and a clear roadmap ahead, Saudi Arabia is showing the world what focused ambition, hard work, and innovation can achieve.
The next chapter promises to be even more exciting.
BM Events
As Saudi Arabia continues its journey of transformation under Vision 2030, the demand for world-class events and business gatherings is rapidly growing.
BM Events stands ready to meet this demand with its expertise in event management Riyadh and specialized manpower agency services across the Kingdom.
Whether it’s large-scale conferences, cultural festivals, or corporate forums, BM Events delivers tailored staffing solutions that ensure flawless execution and exceptional guest experiences.
Choose BM Events for professional manpower and hospitality solutions that match Saudi Arabia’s bold future.
