Saudi Arabia’s Vision 2030: All You Need To Know

Saudi Arabia’s Bold Leap into the Future

Saudi Arabia is actively undergoing an unprecedented transformation with its ambitious Vision 2030 agenda. This $1.1 trillion construction wave is setting new global standards for building a 21st-century society that is innovative, sustainable, and economically diversified.

This strategy extends beyond economic modernization. It aims to elevate living standards and serve as a global model for holistic development by attracting both local and international investments.

Saudi Arabia Vision 2030’s Strategic Roadmap

Vision 2030 in Saudi Arabia anchors around three pivotal themes: Economic Transformation, Societal Development, and Governmental Effectiveness. Each theme crafts a pathway towards a sustainable and prosperous future for the Kingdom.

1. Economic Transformation:
   • Diversify and expand the economy through privatization and the development of new sectors.
   • Increase the private sector’s GDP contribution from 40% to 65%.
   • Elevate SMEs’ role in the economy, targeting a 35% GDP contribution.
   • Raise non-oil exports in non-oil GDP from 18.7% to 50%.
   • Boost Foreign Direct Investment to comprise 5.7% of GDP.
   • Optimize resource allocation for more efficient public spending.
2. Societal Development:
   • Strengthen Islamic and national identities.
   • Promote fulfilling, healthy lifestyles for all residents.
3. Governmental Effectiveness:
   • Boost employment opportunities, focusing on Saudi nationals.
   • Create an attractive investment environment for both local and foreign investors.

Learn more about the birth of Vision 2030 here

Transforming the Real Estate and FinTech Sectors

The Kingdom is welcoming a myriad of investment opportunities, particularly in real estate. Key projects like NEOM—a $500 billion megaproject—will accommodate up to 9 million residents by 2045 and set a benchmark in global competitiveness.

THE LINE, a project featuring two skyscraper-like structures stretching 170 km across the desert, emphasizes smart city development and research hubs, reshaping the real estate market dynamics. This initiative is set to attract tech-driven, sustainable living enthusiasts, aligning with the projected population growth to 55 million by 2030.

Saudi Arabia is also carving out a significant role as a FinTech powerhouse, with a goal to boost the number of FinTech companies to 525 and contribute over SR13 billion to the GDP by 2030.

This focus on FinTech is set to strengthen the private sector and create 18,000 specialized jobs, reducing the Kingdom’s reliance on oil revenues.

Stake’s Role in Saudi Arabia Vision 2030

As Saudi Arabia fosters a favorable environment for FinTech innovation, we are excited to announce that Stake launched its operations in Saudi Arabia this December 2024. Having secured an ExPermit from the Capital Markets Authority, Stake is poised to amplify foreign investment in the Kingdom alongside opening the doors for everyone around the world to invest in exclusive real estate funds’ opportunities.

Learn more about why investing in Saudi Arabia with Stake should be in your playbook…

In the words of the Crown Prince: “We have the cash, the land, the stability, a good infrastructure, and we are a G20 country. We aim to create a new civilization for tomorrow.”

Indeed, Vision 2030 is more than a plan; it’s a reimagining of Saudi Arabia’s future, setting the stage for significant private sector growth and global competitiveness in real estate, FinTech, and more.

Interested in reading more about how the country navigates the economic and global hurdles, click here