Saudi Arabia’s GDP More Than Doubles Since Vision 2030 Launch, Reaching SR4.7 Trillion
Riyadh, The Gulf Observer: Saudi Arabia’s gross domestic product (GDP) has more than doubled since the launch of Vision 2030, reaching SR4.7 trillion ($1.25 trillion) by the end of 2024, up from SR2.6 trillion ($693 billion) in 2016, Investment Minister Khalid Al-Falih announced on Monday.
Speaking at a government press conference in Riyadh, Al-Falih said the expansion reflects not only numerical growth but also deep structural reforms that have reshaped the labor market and strengthened the competitiveness of the private sector.
The minister highlighted that the Saudi economy has created 800,000 new jobs, underscoring the vitality of emerging sectors and their growing capacity to generate employment opportunities.
Al-Falih also noted that foreign direct investment (FDI) has quadrupled by the end of 2024 and is expected to reach SR150 billion ($40 billion) in 2025.
On domestic and foreign investor activity, he said the number of Saudi investors has exceeded 1.86 million, reflecting strong participation in economic growth and improved incentives, particularly for small and medium-sized enterprises. The number of registered foreign investors has reached 62,000, while Saudi nationals continue to be the dominant force in the business sector, supported by nearly 1.8 million Saudi commercial registrations.
