Media Minister: 2024 Marks Year of Media Transformation in Saudi Arabia

Saudi Minister of Media Salman bin Yousef Al-Dosary outlined key strategic aspects of the media system for the upcoming year. (SPA)
Saudi Minister of Media Salman bin Yousef Al-Dosary outlined key strategic aspects of the media system for the upcoming year. (SPA)
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Media Minister: 2024 Marks Year of Media Transformation in Saudi Arabia

Saudi Minister of Media Salman bin Yousef Al-Dosary outlined key strategic aspects of the media system for the upcoming year. (SPA)
Saudi Minister of Media Salman bin Yousef Al-Dosary outlined key strategic aspects of the media system for the upcoming year. (SPA)

Saudi Minister of Media Salman bin Yousef Al-Dosary expressed on Tuesday optimism about the future of Saudi media, anticipating numerous achievements and transformations across all sectors.

He outlined key strategic aspects of the media system for the upcoming year, detailing various projects and programs set to bring these features to fruition, while announcing 2024 as the "Year of Media Transformation."

"Today, we unveil the strategies for the Year of Media Transformation in the Kingdom, based on four pillars: figures, indicators, passion, and work, guided by a wise vision from the Custodian of the Two Holy Mosques and led by Crown Prince," said Al-Dosary at the opening session of the Saudi Media Forum 3 in Riyadh.

The event was attended by over 2,000 media outlets from within and outside the Kingdom.

Al-Dosary said the Saudi media industry has contributed SAR14.5 billion to the GDP in 2023, projecting an increase to SAR16 billion this year. He emphasized the industry's investment in human capital, which generated 56,000 employment opportunities last year, with expectations to reach 67,000 this year.

He presented three implemented strategies serving as a roadmap for the future of media, fortifying the sector, increasing investment attractiveness, and improving the effectiveness of national cadres. These strategies involve collaboration with over 30 government institutions, shaping the comprehensive strategic direction of the Kingdom's media system.

Al-Dosary discussed the Saudi Broadcasting Authority’s (SBA) strategy, aiming to expand the Authority, enhance business competitiveness, nurture media professionals and talents, and produce outstanding content for international digital platforms. He also highlighted the Saudi Press Agency's (SPA) strategy, focusing on improving its global network, offices, and correspondents while aligning media content with public expectations and contemporary developments.

Additionally, the minister spotlighted noteworthy projects, including the "Media Oasis" coinciding with the Kingdom's participation in major summits and events. This initiative engaged over 2,600 journalists from 60 countries, providing insights into more than 30 national projects. Initiatives, like the "Mediazone", have completed their work or are in the process of developing new editions to stay aligned with creative advancements in media arts and expertise.

Al-Dosary emphasized the significance of the Hajj and Umrah seasons, highlighting the recent launch of the "Hajj and Umrah Mediathon" project. This initiative encourages interested parties and media professionals to compete in developing media initiatives and projects promoting innovative and creative media coverage.

He also announced the initiation of the "Hajj Media Hub" project, aiming to establish an integrated media community and environment to assist media professionals in their coverage. Additionally, there will be an interactive media exhibition showcasing services during the Hajj season. The minister disclosed an anticipated outreach to more than 2,000 media professionals and international visitors.

Moreover, Al-Dosary announced the establishment of the Saudi Media Academy that aims to empower, develop, and train individuals in future disciplines. It also aims to form early and innovative strategic partnerships with major technology companies and global media platforms such as Google, Huawei, Alibaba, and others.

Following the minister's remarks, President of the Saudi Media Forum and Chairman of the Saudi Broadcasting Authority (SBA) Mohammed Al-Harthi delivered a speech highlighting a comprehensive development renaissance witnessed by the Kingdom at all levels and fields. He emphasized that the media serves as a mirror reflecting global changes.



Saudi Non-Oil Exports Hit Two-Year High

The King Abdulaziz Port in Dammam, eastern Saudi Arabia. (“Mawani” port authority)
The King Abdulaziz Port in Dammam, eastern Saudi Arabia. (“Mawani” port authority)
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Saudi Non-Oil Exports Hit Two-Year High

The King Abdulaziz Port in Dammam, eastern Saudi Arabia. (“Mawani” port authority)
The King Abdulaziz Port in Dammam, eastern Saudi Arabia. (“Mawani” port authority)

Saudi Arabia’s non-oil exports soared to a two-year high in May, reaching SAR 28.89 billion (USD 7.70 billion), marking an 8.2% year-on-year increase compared to May 2023.

On a monthly basis, non-oil exports surged by 26.93% from April.

This growth contributed to Saudi Arabia’s trade surplus, which recorded a year-on-year increase of 12.8%, reaching SAR 34.5 billion (USD 9.1 billion) in May, following 18 months of decline.

The enhancement of the non-oil private sector remains a key focus for Saudi Arabia as it continues its efforts to diversify its economy and reduce reliance on oil revenues.

In 2023, non-oil activities in Saudi Arabia contributed 50% to the country’s real GDP, the highest level ever recorded, according to the Ministry of Economy and Planning’s analysis of data from the General Authority for Statistics.

Saudi Finance Minister Mohammed Al-Jadaan emphasized at the “Future Investment Initiative” in October that the Kingdom is now prioritizing the development of the non-oil sector over GDP figures, in line with its Vision 2030 economic diversification plan.

A report by Moody’s highlighted Saudi Arabia’s extensive efforts to transform its economic structure, reduce dependency on oil, and boost non-oil sectors such as industry, tourism, and real estate.

The Saudi General Authority for Statistics’ monthly report on international trade noted a 5.8% growth in merchandise exports in May compared to the same period last year, driven by a 4.9% increase in oil exports, which totaled SAR 75.9 billion in May 2024.

The change reflects movements in global oil prices, while production levels remained steady at under 9 million barrels per day since the OPEC+ alliance began a voluntary reduction in crude supply to maintain prices. Production is set to gradually increase starting in early October.

On a monthly basis, merchandise exports rose by 3.3% from April to May, supported by a 26.9% increase in non-oil exports. This rise was bolstered by a surge in re-exports, which reached SAR 10.2 billion, the highest level for this category since 2017.

The share of oil exports in total exports declined to 72.4% in May from 73% in the same month last year.

Moreover, the value of re-exported goods increased by 33.9% during the same period.