For Saudis, every anniversary of the pledge of allegiance has become synonymous with new reforms and unprecedented transformations across various sectors. This ongoing progress is at the heart of Vision 2030, an ambitious plan designed to diversify the economy, drive sustainable development, unlock the potential of promising industries, and position Saudi Arabia as a leading economic force in the region and beyond.
Crown Prince Mohammed bin Salman bin Abdulaziz has placed the nation’s interests, the well-being of its citizens, and their quality of life at the forefront of his priorities. His leadership emphasizes empowering youth and women, while preserving Saudi Arabia’s authentic identity and values, which reflect the Kingdom's deep-rooted heritage and its bright image on the global stage.
Among the key sectors driving Saudi Arabia’s transformation, tourism has emerged as a major contributor to economic diversification. With mega-projects like NEOM, the Red Sea Project, and Qiddiya, alongside the introduction of the electronic tourist visa, the Kingdom has attracted massive investments and millions of visitors.
The technology sector has also undergone a significant transformation, making Saudi Arabia a regional hub for innovation, with heavy investments in artificial intelligence (AI) and the Internet of Things (IoT).
Meanwhile, the industrial sector has expanded and evolved with a focus on advanced manufacturing, renewable energy, and high-tech industries.
Logistics, leveraging the Kingdom’s strategic location as a global connectivity hub, has also seen substantial development through major upgrades to airports, ports, and transportation networks.
In a major step toward industrial advancement, Crown Prince Mohammed announced the launch of Alat, a subsidiary of the Public Investment Fund (PIF), which aims to establish Saudi Arabia as a global center for sustainable industries focused on advanced technologies and electronics. The company will develop and manufacture semiconductors, robotics, and drones, catering to local, regional, and international markets.
The creation of Alat reflects Saudi Arabia’s commitment to economic diversification and its ambition to become a leading industrial and technological powerhouse.
The Kingdom has also made significant strides in biotechnology and environmental sustainability. The National Biotechnology Strategy, launched last year, aims to position Saudi Arabia as a leader in the biotech sector while improving public health, protecting the environment, and ensuring food and water security.
In parallel, the National Red Sea Sustainability Strategy seeks to safeguard the Red Sea’s ecosystem, promote sustainable development, and advance the transition to a blue economy.
Facing economic challenges
Despite global economic challenges, Saudi Arabia has demonstrated remarkable resilience, achieving 1.3% economic growth in 2024. This success is the result of extensive efforts to diversify the economy, with the non-oil sector’s contribution to GDP exceeding 51%, a testament to the Kingdom’s strategic vision and sound economic policies.
Moreover, the country has effectively managed inflation, keeping it at just 1.7% by the end of last year, placing it among the top-performing economies in the G20 in this regard.
Attractive environment for investment
Under the leadership of the Crown Prince, Saudi Arabia has become one of the world’s most attractive investment destinations. Major reforms have transformed the investment landscape, enabling the execution of mega-projects aligned with Vision 2030.
Last year, the government introduced a new investment law aimed at attracting foreign investors and diversifying revenue sources. More than 600 multinational companies relocated their regional headquarters to the Kingdom, while over 14,454 new investment licenses were issued this year, bringing the total number of active licenses to over 40,000.
Foreign direct investment (FDI) has more than doubled since the launch of Vision 2030, reaching SAR 900 billion ($240 billion).
Artificial intelligence
Artificial intelligence has become a cornerstone of Vision 2030, serving as a key driver of economic diversification and digital transformation. The Kingdom has taken major steps to strengthen its digital infrastructure, establishing itself as a regional and global leader in AI development and applications.
These efforts have positioned Saudi Arabia 14th globally and 1st in the Arab world in the Global AI Index, while also securing the top global ranking for government AI strategy.
Within just two years, the Kingdom has attracted $28.3 billion in AI investments, reinforcing its leadership in this transformative sector.
Under the direction of the Crown Prince, the Saudi Authority for Data and Artificial Intelligence (SDAIA) has revolutionized digital services, making a significant impact across multiple industries.
One of its most notable initiatives is the “Ainai” (My Eyes) Project, which leverages AI for early detection of diabetic retinopathy and has successfully diagnosed over 846 patients in just one year.
In government services, the Unified National Access System has saved over SAR 2 billion in operational costs while reducing reliance on self-service devices and manual processing.
Meanwhile, the “Nafath” application has helped users save over 5 billion minutes by eliminating the need for multiple passwords and has contributed to environmental sustainability by reducing 260,000 daily car trips.
Saudi Arabia has also harnessed AI and smart technologies to improve the Hajj and Umrah experience, overcoming major logistical challenges and ensuring seamless services for millions of pilgrims. Digital platforms like “Tawakkalna” have provided over 350 electronic services, benefiting 253 government agencies and enhancing the pilgrimage experience.
International forums and conferences
As Saudi Arabia continues its transformation, it has emerged as a global hub for international conferences and exhibitions. The Kingdom has successfully hosted major global events, reinforcing its growing influence on the world stage.
In April, Riyadh hosted the World Economic Forum (WEF) 2024, bringing together world leaders, experts, and decision-makers to address global challenges and foster collaborative solutions.
Automotive industry
Saudi Arabia is also making significant strides in the automotive industry. The establishment of the “King Salman Automotive Manufacturing Complex” in King Abdullah Economic City is set to become a major hub for car manufacturing. The complex will house Lucid Motors and Ceer (Saudi Arabia’s first EV brand), marking a major milestone in the Kingdom’s push toward electric vehicle production.
In addition, a $488 million joint venture with Hyundai will establish an advanced automated car manufacturing plant, set to begin production in 2026, making it Hyundai’s first facility in the Middle East.
Road networks
Infrastructure development remains a key priority, with Crown Prince Mohammed launching the Riyadh Circular Roads Development Program in August. The initiative includes the expansion and development of over 500 km of roads, with four major projects valued at over $3.46 billion.
Architectural heritage
To celebrate and preserve the Kingdom’s rich architectural heritage, the Crown Prince unveiled the Saudi Architecture Characters Map. This initiative, which identifies 19 distinct architectural styles inspired by Saudi Arabia’s geographic and cultural heritage, aims to enhance the nation’s architectural diversity, improve urban landscapes, and create 34,000 direct and indirect jobs in engineering, construction, and urban development.
Sustainable tourism has also become a key pillar of Vision 2030, balancing economic growth with environmental and cultural preservation. The 2025 Saudi Tourism Forum, held in Riyadh, highlighted the Kingdom’s diverse tourism potential, attracting investors and fostering collaboration between the public and private sectors. The event showcased Saudi Arabia’s efforts to promote cultural and environmental tourism, ensuring that economic benefits align with the preservation of historical and ecological treasures.
For example, Al-Ahsa, a UNESCO World Heritage site, is a prime example of cultural and natural tourism, with its vast palm groves, water springs, and rich traditions dating back thousands of years.
Additionally, Time Magazine has named Shebara Resort, owned and operated by Red Sea Global, among the “World’s Greatest Places of 2025.” This recognition highlights the resort’s status as a luxury destination that seamlessly combines elegance, sustainability, and breathtaking natural beauty.
With its commitment to innovation, sustainability, and economic diversification, Saudi Arabia is rapidly advancing toward a new era of global leadership and prosperity.
