Investing in the Kingdom’s Vision 2030 can be a wise decision, as the plan aims to transform the Saudi Arabian economy and society by diversifying the economy, developing non-oil industries, and increasing private sector participation. The vision seeks to create new areas of prosperous economic growth, create jobs and highlighting the social and cultural diversification in Kingdom.
Saudi Arabia has a diverse economy with several investment sectors. Some of the major sectors that offer investment opportunities in the kingdom are:
The construction sector in Saudi Arabia is booming and government is implementing several reforms to encourage investment in the real estate sector aiming to hit 70% home ownership target by 2030 and expecting 1.5 million houses to be built after looking at the steady demand for real estate services.
According to Saudi Vision 2030, it is planned that by 2025, around 400,000 residential, commercial, and industrial units would be built using modern construction technologies.
The government is investing heavily in developing the tourism sector, with plans to attract 100 million tourists annually by 2030, up from 40 million in 2019. This presents opportunities for investment in hotels, resorts, and other tourism-related businesses. Although this sector is still in its early phases of growth, it has already demonstrated remarkable potential in catering to the requirements of both global and regional investors.
One of the key initiatives driving the growth of tourism in Saudi Arabia is the development of new destinations and attractions.
The Saudi government intends to invest more than $65 billion on upgrading the Kingdom’s healthcare infrastructure. Additionally, they are working towards increasing private sector involvement from 40% to 65% in the next 10 years, it aims to raise private sector involvement from 40% to 65% by 2030, with 290 hospitals and 2,300 basic health care clinics targeted for privatization.
