Saudi Arabia

Keeping abreast of tax developments is essential for any business hoping to optimise its financial position. This chapter provides an overview of the business environment in Saudi Arabia, outlining the key areas of investment and growth. This chapter also includes a viewpoint with Bakr Abulkhair, Chairman and Managing Partner, Deloitte & Touche Bakr Abulkhair & Co.

Like many other nations looking to diversify their economies, Saudi Arabia has chosen to take advantage of its natural resources to fuel development. Solar and wind power have both been earmarked by the government as it seeks to reduce its reliance on the hydrocarbons sector. Some $109bn will be spent to produce 41 GWh of solar power and 9 GWh of wind capacity by 2032. Indeed, solar power is...

The tourism industry in the Kingdom has seen good growth in recent years. The number of visitors rose dramatically in 2011, making Saudi Arabia the largest travel market in the Middle East and North Africa. Plans to remove restrictions on the movement within the Kingdom of religious visitors from a number of countries, along with major tourism developments in the pipeline, are set to boost the...

As the largest telecommunications market in the Gulf, Saudi Arabia also stands out as one of the region’s most competitive markets. Mobile subscription penetration rates are among the highest in the world, standing at close to 200% of the population. Furthermore, smartphone sales grew 154% in 2010, bringing their share of the hardware market to 32%, while rising demand for tablet computers has...

Saudi Arabia has a growing population that, combined with increased life expectancy and a rising rate of so-called lifestyle diseases such as diabetes, means demand for health care services is set to continue to grow for the foreseeable future. Yet while the state remains the largest player in the health care industry, providing free treatment to nationals and stepping up spending, the...

Saudi Arabia’s booming export economy and record budget surpluses have provided a golden opportunity to reinvest these profits in the country’s future. The education sector has thus been designated a chief priority. More than half of the Kingdom’s population is under the age of 25, with close to 30% under 15. These numbers make providing a strong education system an even higher priority. As of...