عربي English Türkçe اردو فارسى
Logo
Latest News
Business

GASTAT: Saudi Women's Participation in Labor Force Reaches 36.2%

The General Authority for Statistics (GASTAT) logo
The General Authority for Statistics (GASTAT) logo
TT
TT

GASTAT: Saudi Women's Participation in Labor Force Reaches 36.2%

The General Authority for Statistics (GASTAT) logo
The General Authority for Statistics (GASTAT) logo

The General Authority for Statistics (GASTAT) said Tuesday that the unemployment rate among Saudis in Q3 of 2024 was 7.8%, an increase of 0.7 percentage points over Q2 of this same year, and a year-on-year decrease of 1 percentage point from Q3 2023.

The Labor Market Bulletin for the third quarter of 2024 also shows that the Saudi and non-Saudi labor force stood at 66.6%, a 0.4 percentage point increase over Q2 of 2024.
Among Saudis, the labor force grew by 0.7 percentage points, to reach 51.5%, marking a year-on-year increase of 0.7 percentage points. The employment-to-population ratio among Saudis went up by 0.2 percentage points, reaching 47.4%, or an annual growth of 1.1 percentage points.
The bulletin also highlighted the growth of Saudi women's participation in the labor force, which increased by 0.8 percentage points, to 36.2%, in the mentioned period.
The employment-to-population ratio among Saudi women rose by 0.5 percentage points, reaching 31.3%. Among Saudi women aged 15–24, participation in the labor force increased by 1 percentage point, to 18%, while the employment-to-population ratio among this age group rose by 0.6 percentage points, to 13.6%, in Q3 of 2024.
Participation in the labor force among young Saudi men increased by 1.1 percentage points, to 34.6%.
Among Saudi men in general, participation in the labor force increased by 0.6 percentage points, to 66.9%, and the employment-to-population ratio reached 63.7%.
Among Saudi men and women in the prime working-age group (25–54 years), participation in the labor force rose by 0.7 percentage points, to 69.4%, and the employment-to-population ratio increased by 0.3 percentage points, to 64.8%.

Most Viewed

 
 
Business

Saudi Real Estate Transactions Surpass $533 Billion in 2024

Riyadh’s Expo 2030 logo adorns the capital’s sky (Asharq Al-Awsat).
Riyadh’s Expo 2030 logo adorns the capital’s sky (Asharq Al-Awsat).
TT
TT

Saudi Real Estate Transactions Surpass $533 Billion in 2024

Riyadh’s Expo 2030 logo adorns the capital’s sky (Asharq Al-Awsat).
Riyadh’s Expo 2030 logo adorns the capital’s sky (Asharq Al-Awsat).

Real estate transactions in Saudi Arabia exceeded $533 billion (SAR 2.5 trillion) in 2024, covering over 622,000 deals and spanning approximately 5.8 billion square meters. More than 520,000 properties were traded, according to data from the Real Estate Exchange managed by the Saudi Ministry of Justice.

These figures underscore the strength of Saudi Arabia’s real estate market as a primary driver of its economy. Experts credit this growth to the Kingdom’s broader economic boom and its success in hosting major global events. The market is expected to maintain its momentum in 2025 and beyond, attracting further investment and large-scale projects, with sustainability and innovation driving continued growth.

Standard & Poor’s predicts the sector’s contribution to Saudi Arabia’s GDP will rise to 10% by 2030, up from 5.9% today. This growth is bolstered by significant increases in real estate financing.

In November, Minister of Municipal and Rural Affairs and Housing Majid Al-Hogail noted that financing had grown 300% in five years, reaching SAR 800 billion in 2024, compared to SAR 200 billion in 2018.

Real estate expert Ahmed Al-Faqih described the 2024 surge in transaction values and volumes as expected, given various incentives for investors, developers, and individuals. He highlighted the increased attractiveness of the market, driven by Saudi Arabia’s success in hosting major international events across economic, cultural, and sports sectors. This has positioned the Kingdom as a premier destination for domestic, regional, and international investments.

For his part, real estate marketer Abdullah Al-Mousa noted that the record numbers reflect growing investor confidence in the Saudi market, bolstered by Vision 2030, supportive regulations, and urban expansion through mega-projects like NEOM and Qiddiya. These initiatives have strengthened economic growth and improved real estate infrastructure.

Al-Mousa also pointed to rising local and international demand for residential and commercial properties, the growing middle class, and the adoption of innovative technologies such as virtual tours and smart property evaluations. These advancements have enhanced transparency and accelerated decision-making in the real estate sector.

Additionally, regulatory reforms and the development of economic zones will further attract international investments, according to the expert. These factors are expected to stabilize property prices in certain areas, contributing to a sustainable market and increasing its appeal.

Al-Mousa concluded that Saudi Arabia’s real estate sector has established itself as a vital economic engine. With ongoing government investment and technological innovation, the market is poised to sustain its momentum, attracting more investment opportunities in 2025 and beyond, with sustainability and innovation remaining key drivers of growth.