Saudi Vision 2030 enters final phase as Kingdom reports strong economic gains

RIYADH: Saudi Arabia has officially entered the third and final phase of Saudi Vision 2030, following the release of its 2025 annual report, highlighting significant progress in economic diversification and institutional development.

According to the report, Saudi Vision 2030 continues to deliver strong results, with 93 percent of key performance indicators (KPIs) either meeting or exceeding their annual targets. Overall, nearly 90 percent of initiatives under Saudi Vision 2030 have been completed or are progressing steadily, reflecting sustained momentum in the Kingdom’s reform agenda.

The report revealed that Saudi Arabia’s gross domestic product (GDP) reached $1.31 trillion in 2025, with non-oil activities contributing 55 percent — a major milestone under Saudi Vision 2030. The economy recorded a growth rate of 4.5 percent, the highest in the past three years. The private sector’s contribution also expanded significantly, rising from 44 percent in 2016 to 51 percent, valued at approximately $660.5 billion.

Saudi Arabia’s foreign direct investment (FDI) surged to $35.5 billion, marking a fivefold increase since 2017. Meanwhile, the Public Investment Fund (PIF) has seen its assets grow five times to reach $909.7 billion, creating over one million jobs since 2018 and achieving 60 percent local content in its projects.

Small and medium enterprises (SMEs) have witnessed remarkable growth, increasing from 429,000 in 2016 to over 1.7 million. Women’s participation in the workforce has also risen significantly to 35 percent, while women now own 48 percent of commercial registrations and hold 43.9 percent of mid- and senior-level management roles.

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Tourism has emerged as a key driver of growth, with visitor numbers doubling from 63 million to 123 million, and tourism spending reaching $81.1 billion. Religious tourism remains strong, with more than 18 million international Umrah pilgrims recorded.

In healthcare, service coverage has reached 97.5 percent of the population, while life expectancy has increased to 79.7 years, nearing the 80-year target. In education, the number of Saudi Arabia’s universities in global rankings has risen to 22, with student representation in top 200 institutions doubling.

Environmental initiatives have also gained momentum, including the planting of over 151 million trees and expansion of renewable energy capacity from 3 gigawatts to 46 gigawatts.

The report concludes that the final phase of Saudi Vision 2030 will focus on accelerating outcomes, maximizing economic impact, and further strengthening private sector participation, with an emphasis on sustainable development and global partnerships.