In 2024, Saudi Arabia remains a strong emerging market, despite the decrease in oil production affecting its GDP. The country’s non-oil economy is growing and has made it one of the most resilient emerging markets in the region. This growth can be attributed to the Vision 2030 program launched by Crown Prince Mohammed bin Salman eight years ago, which has played a key role in diversifying the economy and creating job opportunities for a growing local workforce.
The ongoing success of Saudi Arabia’s non-oil economy is evident in its ability to weather economic challenges such as low oil prices and geopolitical instability. The country’s commitment to economic transformation has allowed it to remain competitive in the global marketplace and attract foreign investment. Additionally, the Vision 2030 program has led to significant social change, with women gaining greater access to education and employment opportunities.
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