Highlights from The Report: Saudi Arabia 2023
Saudi Arabia | Economy
Ongoing giga-projects such as NEOM and The Red Sea Project are supporting Saudi Arabia's twin goals of attracting investment and stimulating economic diversification. A rise in non-oil exports between 2017 and 2023 represents efforts to nurture growth engines beyond hydrocarbons, targeting strategic sectors such as entertainment and hospitality. Additionally, a balance between boosting oil production capacity and capitalising on an early-mover advantage in clean energy solutions is helping the Kingdom support global energy security while working toward domestic net-zero targets. With a favourable macroeconomic environment and widespread social and educational reforms shaping growth, the Kingdom remains an attractive destination for foreign investors.
For more information and in-depth analysis from our on-the-ground experts, key government leaders and business executives, read The Report: Saudi Arabia 2023, recently launched and now available via the OBG Research Terminal.