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Economy
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Chapter | Table of Contents from The Report: Saudi Arabia 2022
Chapter | Country Profile from The Report: Saudi Arabia 2022
As the world’s largest oil producer and the only Arab country in the G20, Saudi Arabia is a key geopolitical player on the global stage. Officially established in September 1932, the Kingdom has begun to invest its considerable financial resources into a series of large-scale economic development, diversification and modernisation initiatives in recent years. Saudi Arabia has attracted...
The Guide contains listings of accommodation options throughout the country for both business and leisure travellers. Helpful information is provided on visa regulations and business etiquette, as well as public and private transport options for navigating the country during your stay.
Chapter | Security, Aerospace & Defence from The Report: Saudi Arabia 2022
Saudi Arabia’s defence expenditure was the sixth highest worldwide in 2021, behind the US, China, India, Russia and the UK. The localisation of industry, and enhanced research and development are core to Vision 2030, the government’s long-term blueprint for development. Given the defence sector’s traditional prominence in the annual budget, it is among the areas targeted to propel the...
With increasing oil and gas prices and an expanding non-oil sector, Saudi Arabia has been logging record trade surpluses in recent years, while securing government revenue for future investment. Saudi Arabia is expected to be among the fastest-growing economies in the G20 in 2022 – and the Kingdom was on track to fulfil that forecast by the middle of the year. Indeed, in the first three months...
Saudi Arabia has undergone significant reforms to foster growth and diversification. While some initiatives were delayed during the Covid-19 pandemic, progress in areas such as the digital economy accelerated. Aided by elevated oil prices in 2022, strategies underlined in Vision 2030 continue moving forwards, and the Kingdom today presents ample opportunities for foreign investors, underpinned by efforts to boost private sector participation in the economy.