Saudi Arabia’s economy has doubled in size since the launch of Vision 2030, expanding from $650 billion to approximately $1.3 trillion. At the same time, the Kingdom has surpassed its regional headquarters target, attracting 675 major international companies and surpassing the original 2030 goal of 500.
Investment Minister Khalid Al-Falih announced the figures on Sunday during the opening day of the Fortune Global Forum 2025 in Riyadh, which was being held in the Saudi capital for the first time on October 26-27. The event underscores Saudi Arabia’s growing role as a global economic hub and a center for shaping future business trends.
Al-Falih said that “the pace of innovation is unprecedented,” with advanced technologies driving a deep transformation in productivity, while sustainability is reshaping performance and emerging markets, particularly in the Global South, are redefining global demand.
“The challenge before us is not merely adapting to these changes,” he stressed, “but leading them in a rapidly evolving world.”
He noted that Saudi Arabia is redefining its role as a global investment destination and a long-term partner for leading international companies seeking sustainable growth. Since the launch of Vision 2030, the Kingdom has completed or is on track to deliver 85 percent of its initiatives by the end of 2024, meeting or exceeding most targets.
The contribution of non-oil activities to GDP has risen from 40 percent to 56 percent, while unemployment has fallen to below 7 percent. “We have opened new sectors, including logistics, tourism, advanced manufacturing, digital infrastructure, healthcare, and clean energy,” Al-Falih said.
He added that the regional headquarters program, which aimed to attract 500 HQs by 2030, has already exceeded its goal with 675 established so far.
Anastasia Nyrkovskaya, CEO of Fortune, said Saudi Arabia has become “a major destination for business and investment,” which led the company to host its flagship event in Riyadh for the first time.
“Our journey began two years ago with a promise to bring Fortune’s key events here. That promise has now been fulfilled,” she said, referring to the Fortune Most Powerful Women Summit in May and the global forum taking place this week.
During a panel discussion, Al-Falih announced that Saudi Arabia would officially recognize Barclays’ regional headquarters in the Kingdom “within days.”
Addressing Barclays CEO C.S. Venkatakrishnan, he said: “If you’ll allow me, we’ll make Barclays an official regional HQ within two days. I want to thank you for the trust you’ve placed in the Kingdom as a platform.”
Tourism Minister Ahmed Al Khateeb said Saudi Arabia has exceeded its original tourism goal of 100 million visitors, reaching 116 million this year, up from 80 million in 2019. The revised target for 2030 is 150 million visitors, including 50 million international tourists, positioning the Kingdom among the world’s top 10 destinations.
The government is also expanding tourism infrastructure, including airports, hotels, and entertainment facilities, in preparation for major global events, such as the 2034 FIFA World Cup.
In remarks to Asharq al-Awsat, Hatim Alkahily, acting CEO of the General Authority for Exhibitions and Conferences, said the sector has grown by 40 percent over the past four years, making it the fastest-growing among G20 countries.
The Kingdom hosted around 17,000 events in one recent year, cementing its position as a leading platform for international conferences and exhibitions, he stressed.
