Saudi Arabia's first signs of success for Vision 2030

On 25 April 2016, Saudi Arabia presented Vision 2030, an initiative that charts a new course for the nation's future based on the diversification of the economy. 8 years later, this innovative project has already achieved 87% of its 1,064 initiatives completed or in progress, while 81% of the 243 key performance indicators for the third level have already achieved their targets, with 105 indicators exceeding the targets for 2024-2025.  

This is shown in the annual Vision 2030 report, which also highlights the Kingdom's remarkable growth in several sectors, such as tourism, an industry that Riyadh has been promoting for years in order to achieve Vision 2030 goals. 

The Kingdom welcomed 106 million visitors in 2023, including 27.4 million international tourists, making it the second fastest growing tourism destination in the world.

On the other hand, the number of Umrah participants from abroad soared to a record 13.56 million, surpassing the target of 10 million by 2023 and almost doubling the benchmark of 6.2 million. 

Cultural heritage preservation is another area of success. The number of Saudi sites on the UNESCO list increased to seven, surpassing the target of six by 2023 and bringing the Kingdom closer to its target of eight by 2030. The latest addition, the "Uruq Bani Ma'arid" reserve, further strengthens Saudi Arabia's rich cultural footprint. 

Riyadh's international position has been further strengthened after the Arab country was chosen to host Expo 2030, beating Busan (Korea) and Rome (Italy). 

Domestically, Vision 2023's focus on improving the quality of life is yielding positive results. Life expectancy in the Kingdom has increased to 78, surpassing a baseline of 77.1 years, while the initiative hopes to reach 80. 

The percentage of population centres, including those in remote areas, covered by health services now stands at 96.41%, exceeding the target of 96% by 2023. In addition, Vision 2030 is delivering on its promise to increase home ownership rates. 

More than 66,000 Saudi families have received their new homes. By the end of August, more than 24,000 new homes had been inaugurated. The percentage of citizens owning their homes has reached 63.74%, exceeding the target of 63% by 2023, significant progress from a baseline of 47%, with the final Vision 2030 target set at 70%. 

In this regard, housing support services are also expanding. More than 96,000 citizens have benefited from these services, with financial support totalling SAR 4.1 billion. 

One of the cornerstones of Vision 2030 is diversification of the economy, boosting non-oil sectors away from exclusive reliance on crude oil. Last year, non-oil GDP reached 1,889 billion rials, exceeding a baseline of 1,519 billion rials and approaching the 2023 target of 1,934 billion rials.

The final Vision 2030 target for non-oil GDP is SAR4,970 billion. Moreover, the private sector's contribution to GDP has reached 45%, achieving the 2023 target.  

Vision 2030 is also making progress in reducing unemployment. The national unemployment rate among Saudi citizens has fallen to 7.7%, exceeding the target of 8% by 2023. This represents significant progress from a baseline of 12.3%, while the Vision targets 7%. 

Within employment, Vision 2030 emphasises the empowerment of women as a key driver of national development. Female labour force participation has increased to 34%, approaching the ambitious long-term target of 40%. This represents a significant increase from a baseline of 22.8%. 

Other areas where Vision 2030 has achieved significant successes over the past year include education, technology, communications and green energy.