According to the Vision 2030 Annual Report 2024, Saudi Arabia has made significant strides in its Vision 2030 initiative, achieving and surpassing numerous targets ahead of schedule. Gulf Business
April 27, 2025
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Vision 2030 aims to reduce
the kingdom’s dependence on oil, diversify its economy, and develop public
service sectors.
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The initiative is
structured into three five-year phases, each building upon the previous successes.
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As of the end of 2024, 85
per cent of the 1,502 active initiatives under Vision 2030 are either
completed or on track, with 674 completed and 596 progressing as planned.
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Additionally, 93 per
cent of national programmes and strategy indicators have met, exceeded,
or are close to meeting their 2024 interim targets.
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Eight Vision 2030
targets have been achieved six years ahead of schedule, reported the Saudi
Press Agency (SPA).
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In the tourism
sector, the kingdom welcomed over 100 million tourists, surpassing its 2030
target seven years early.
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The introduction of e-visa
programmes, now available to 66 countries, has enhanced accessibility for
international visitors.
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Cultural advancements
include the registration of eight Saudi sites on the UNESCO World Heritage List
and the inscription of 16 cultural elements on UNESCO’s Representative List of
Intangible Cultural Heritage.
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The kingdom also launched
its first specialized college of arts at King Saud University.
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Economic diversification
efforts have led to the Public Investment Fund’s assets under management
exceeding SAR3.53tn, more than triple since Vision 2030’s launch.
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The private sector’s
contribution to GDP reached 47 per cent, surpassing the 2024 target. Employment
in small and medium-sized enterprises reached 7.86 million, exceeding
expectations.
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Social reforms have
seen women’s labor force participation rise to 36 per cent by the end of 2024,
a significant increase from 17 per cent in 2017.
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The percentage of Saudi
women in middle and senior management positions reached 43.8 per cent.
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The kingdom also achieved
its 7 per cent unemployment target.
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Healthcare coverage
expanded to 96.4 per cent of population centers, moving closer to the 2030 goal
of 99.5 per cent. The average life expectancy increased to 78.8 years,
nearing the 2030 target of 80 years. Homeownership among Saudi households
reached 65.4 per cent, surpassing the 2025 target.
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Environmental
initiatives under the “sustainable vision” axis include the planting of
over 115 million trees and the rehabilitation of more than 118,000 hectares of
degraded land.
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The kingdom also launched
its first hydrogen-powered bus and taxi, and established the world’s
first solar-powered desalination plant.
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In the realm of digital
transformation, Saudi Arabia ranks first in the internet users index and
second globally in both the digital transformation index for companies and the
technology development and application index.
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The digital transformation
of the judicial system saw 98 per cent of litigation sessions conducted
electronically, totaling over 2.3 million sessions.
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Major projects contributing
to these achievements include the Red Sea Project, which has opened
several luxury resorts and aims to attract one million visitors annually by
2030.
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The Sindalah luxury
island destination in NEOM was inaugurated in October 2024, and the Soudah
Peaks project aims to develop a mountain tourism destination in ‘Asir Province.
