Andersen

Ten years passed since Crown Prince Mohammed bin Salman announced the Kingdom’s Vision; Saudi Vision 2030 entered its final phase. Vision’s objectives in this final stage focused on sustaining its impact and achieving the “full implementation of the remaining goals and strategies of Vision: a prosperous economy, an ambitious nation, and a vibrant society.” This was achieved through strategies focused on sustaining economic transformation and success, emphasizing and strengthening non-oil growth (reducing total dependence on oil exports), and implementing major infrastructure projects, including modern cities, high-speed rail connecting the Kingdom’s far-flung regions, and tourism and entertainment projects that enhance the quality of life for Saudi citizens and provide the highest levels of social welfare.

The Kingdom’s Vision aimed to achieve a deeply diversified economy by 2030, built on diverse revenue streams from various economic activities, to ensure stable and secure economic growth unaffected by global geopolitical events and changes. Thus, thanks to the goal of a diversified economy, Vision 2030 has already moved beyond heavy reliance on oil exports. Non- oil contributes 52% of GDP to oil by early 2025.

As of April 27th, 2026, the successes achieved thus far were clear to experts and stakeholders. According to the Vision 2025 Annual Report, significant achievements have exceeded all pre-calculated expectations. The percentage of key performance indicators that met or surpassed their annual targets reached 93%, as per the 2025 report. The following is an overview of the achievements and progress made over the past ten years, in addition to the goals reached by the Saudi Arabian government after a decade of Vision 2030 (according to the currently released Vision Annual Report).

Key Achievements and Goals Achieved After Ten Years:

• Economic Growth and Diversification: Saudi Arabia has achieved remarkable and robust economic growth over the past ten years. The Saudi economy has witnessed a radical transformation and growth over the past decade (especially since the launch of Vision 2030 in 2016). Structurally, the economy has undergone a remarkable transformation, growing by approximately 80%, with a significant increase in focus on non-oil sectors. The private sector’s contribution to GDP reached 51%, and the economy recorded growth rates, most notably exceeding 5% in 2021 and 2022, amidst natural fluctuations in oil prices. For the first time, non-oil activities now represent more than 52% of total GDP.
• The Saudi labor market has improved: the unemployment rate among Saudi citizens fell to a historically low level of 7% in late 2024, achieving a key 2030 target years ahead of schedule. Over the past decade (roughly from 2015-2016 to 2025-2026), the Saudi labor market has witnessed unprecedented and radical structural transformations, driven by Saudi Vision 2030. It has shifted from a market heavily reliant on expatriate labor and the public sector to one focused on Saudization, women’s empowerment, and supporting the private sector. Key features of the labor market’s development over the past decade include… A historic drop in unemployment rates: The unemployment rate among Saudis fell to approximately 7% by the end of 2025, down from over 12% before the launch of Vision 2030, achieving the 7% target for 2030.
• Women’s Empowerment: The percentage of Saudi women participating in the workforce rose to 35%, compared to 21.2% ten years ago, because of supportive legislation and their right to work in all fields. Women’s participation at 35% is a remarkable achievement, exceeding the original 2030 target of 30%.
• Digital Leadership and Cybersecurity: Saudi Arabia now ranks first globally in the Digital Readiness Index and the Cybersecurity Index. Over the past decade (2016-2026), Saudi Arabia has witnessed significant and remarkable leaps in digital leadership and cybersecurity, driven by Vision 2030, which has made digital transformation a cornerstone for building a prosperous economy and a vibrant society. The following are the most prominent achievements based on the latest reports. Global indicators in digital leadership, digital governance and technology, digital transformation, and cybersecurity:
  • Second place globally in the Digital Government Maturity Index.
  • First place globally in 5G download speeds and eighth place in the Telecommunications Infrastructure Index.
  • Third place globally in AI job growth and third place in the number of leading AI models.
  • Government Digital Ecosystem: Centralized platforms such as Absher, serving over 28.7 million customers, and Tawakkalna, offering over 1,300 services, have been launched.
  • Excellence in Digital Services: The Kingdom achieved second place among G20 countries in the Telecommunications and Technology Sector Regulation Development Index.
  • Cybersecurity: The Kingdom has made exceptional strides in protecting its digital spaces, moving from 46th place globally in 2016 to among the top countries globally in the Cybersecurity Index, according to the World Competitiveness Yearbook 2024 and 2025. Participation rate reached Women’s representation in the Kingdom’s cybersecurity sector has reached 32%, exceeding global averages.

• Significant development in the tourism sector: Saudi Arabia has achieved remarkable progress in the tourism sector over the past decade, in line with Vision 2030. Key achievements include surpassing the target of 100 million domestic and international visitors by 2023 and increasing the sector’s contribution to GDP to 11.5%. These achievements include the launch of e-visas for 63 countries, the development of mega-projects (NEOM, the Red Sea Project, and Diriyah), and the inclusion of new sites on the UNESCO World Heritage List. The Kingdom has exceeded its initial target. The target has now been raised to 150 million visits by 2030.
• Expansion of the Public Investment Fund (PIF): The PIF is steadily progressing towards becoming one of the world’s largest sovereign wealth funds, targeting assets exceeding US$1.07 trillion by 2025, with a focus on 13 strategic sectors. Over the past decade, the Saudi PIF has become a key driver of the economy, with its assets growing from approximately SAR 500 billion (2015) to over SAR 3.4 trillion (2024). It has focused on diversifying the economy through mega-projects (NEOM, Red Sea Project) and establishing more than 90 new companies, driving growth in non-oil sectors and contributing to GDP.
• Foreign Investment: Foreign direct investment (FDI) and private sector participation are experiencing increasing growth, supported by special economic zones. FDI inflows to Saudi Arabia have witnessed significant growth and qualitative development over the past decade (2016-2026). The launch of Vision 2030 saw the strategy shift from simply attracting capital to creating a comprehensive economic impact. The following are the key features of foreign investment flows in recent years:
  • A historic leap in 2025-2026: The cumulative stock of foreign direct investment (FDI) exceeded SAR 1 trillion (approximately USD 267 billion) by the end of 2025, achieving 13% growth compared to 2024.
  • Growth in inflows: The Minister of Investment announced that FDI inflows doubled, reaching SAR 119.2 billion in 2024.
  • Q4 2025 performance: Net FDI inflows recorded a 90% increase in the fourth quarter of 2025, reaching SAR 48.4 billion.
  • Global indicators: The Kingdom ranked seventh globally in the Investment Capital Inflows as a percentage of GDP indicator in 2022.
  • Qualitative shift: Investments were concentrated in strategic sectors to enhance the diversification of income sources, contributing to an increase in GDP to SAR 4.7 trillion.

Vision 2030 Targets for Key Mega Projects:

• NEOM City: The first phase of the line, spanning 5 kilometers, was operational in 2025, with the goal of reaching one million residents by 2030.
• The Red Sea Project: A luxury tourism destination encompassing more than 90 islands and inland sites. The initial phases are already underway, with full completion scheduled for 2035.
• Qiddiya City Project: A capital of entertainment, sports, and arts, featuring the Six Flags Qiddiya theme park, which is slated for full operation and will create more than 25,000 jobs.
• Riyadh Metro: A major urban transport project aiming for full operation to revolutionize transportation in the capital. • Roshan Residential Development: A national residential community development company aiming to increase homeownership among citizens to 70% by 2030.
• Diriyah Gateway: Transforming the historic Diriyah site into a leading cultural and heritage destination.
• Tourism Development: The target has been raised to 150 million visitors annually by 2030, with the goal of tourism contributing 10% to GDP.
• Healthcare Improvement: 97.5% health coverage has been achieved, with a focus on privatization and improving quality of life.
• Sports Events: Aiming to host major global events, including the 2034 FIFA World Cup, building on the success of the 2030 goals.
• Improved Quality of Life: A Vibrant Society: Entertainment sectors, including cinemas, concerts, and sporting events, have become an integral part of daily life, increasing household spending on culture.
• Global Presence: Saudi Arabia has established itself as a major global investment hub in artificial intelligence (AI). Humans) and Cybersecurity\

In conclusion, there is no doubt that the Kingdom of Saudi Arabia has witnessed tremendous economic and social development thanks to the success of Vision 2030. Vision’s objectives in this latest phase have focused on sustaining its impact and achieving the “full implementation of the remaining goals and strategies of the Kingdom thriving economy, an ambitious nation, and a vibrant society.” Among the most notable achievements are the rise in real GDP to SAR 4.9 trillion, the increase in the private sector’s contribution to the national product to 51%, the rise in the average life expectancy of Saudi citizens to 79.9 years, and the increase in women’s participation in the labor market to 35%. The Public Investment Fund (PIF) has launched a new strategy for the period 2026-2030 targeting six key sectors: tourism, urban renewal, advanced manufacturing, logistics, clean energy, and looking beyond this decade of 2030 Vision. The Crown Prince has already indicated the preparation of Vision 2040, following Vision 2030, which is expected to be officially announced between 2027 and 2028. It will focus on biotechnology and artificial intelligence.