Saudi Arabia Economy Articles & Analysis

Chapter | The Guide from The Report: Saudi Arabia 2016

The guide contains listings of some of the leading hotels and resorts in Saudi Arabia and contacts for important government offices and services. It also contains useful tips and information for first-time or regular and business and leisure visitors alike.

2016 witnessed the launch of the Kingdom’s historic Vision 2030 and the accompanying National Transformation Programme, both of which call for a major overhaul of the state’s economic apparatus and envision a more open market framework and more dynamic, private sector-led growth moving ahead.

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Saudi Arabia is furthering plans to create the world’s largest sovereign wealth fund and use it as a vehicle for driving economic growth, a move that will have a far-reaching impact on regional and global markets, as well as open opportunities for investment.

To what extent do you expect future growth in the housing market to be supported by mortgage finance?

What greater role do you think the Saudi private sector can take with the launch of Vision 2030?

Coinciding with a visit from US President Donald Trump, the inaugural Saudi-US CEO Forum on May 20 in Riyadh saw a series of deals signed between numerous companies in both the oil and non-oil sectors, with Saudi Arabia looking to enhance private sector involvement in its economy and increase foreign investment as part of its Vision 2030 economic blueprint.

Weaker energy prices and an ambitious reform programme aimed at increasing private sector participation in the economy were key themes of 2016 as Saudi Arabia accelerated efforts to diversify its economy.

Recent changes to the terms and conditions of employment in Saudi Arabia’s civil service are expected to result in major budget savings; however, there are some concerns that the alterations could negatively affect the broader economy.