Vision 2030 propels Saudi Arabia to forefront of global investment, says economy minister
Saudi Arabia, under its Vision 2030 program, is emerging as a global investment hub, with significant growth in sectors like tourism, according to Economy Minister Faisal Al-Ibrahim. The National Tourism Strategy recently exceeded its goal of 100 million visitors, raising the target to 150 million by 2030. Tourism’s GDP contribution is expected to increase from 6% to 10%. Non-oil activities now comprise 52% of the GDP, with fixed capital formation rising to 25%. Al-Ibrahim emphasized the Kingdom’s commitment to diversification, innovation, and collaboration in developing various sectors, including entertainment and renewable energy.