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Int'l Gathering to Unveil Saudi Green Initiatives’ Roadmap

Riyadh will host a global forum on the Green Saudi Initiative on Oct. 23-25. (Asharq Al-Awsat)
Riyadh will host a global forum on the Green Saudi Initiative on Oct. 23-25. (Asharq Al-Awsat)
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Int'l Gathering to Unveil Saudi Green Initiatives’ Roadmap

Riyadh will host a global forum on the Green Saudi Initiative on Oct. 23-25. (Asharq Al-Awsat)
Riyadh will host a global forum on the Green Saudi Initiative on Oct. 23-25. (Asharq Al-Awsat)

Saudi Arabia revealed on Tuesday an international trend to draw a green roadmap aimed at pushing efforts towards preserving the environment and supporting climate protection, through the establishment of the Green Saudi Initiative Forum, which will convene later this month in Riyadh.

The international forum will be held on Oct. 23-25, in the presence of regional and international stakeholders, to announce a roadmap aimed at achieving the goals of the Green Saudi Initiative, and launching innovative solutions to address climate change.

In March, Saudi Crown Prince Mohammed bin Salman announced the Green Saudi Initiative and the Green Middle East, stressing that they will both seek to protect land and nature and make a huge contribution to achieving global targets.

The forum will highlight the Green Youth Summit, a platform to raise awareness on the importance of environmental issues and develop policies to address them. Participants will seek to shape the future of climate action in a framework of interactive activities and intense discussions.

The Forum will be attended by Minister of Energy, the Minister of Environment, Water and Agriculture, the Governor of the Public Investment Fund, the President of NEOM, and the CEO of the Royal Commission for Riyadh City, along with international and regional experts and global leaders, who will discuss the Green Middle East Initiative and the upcoming steps to meet common environmental obligations.

According to official information, the forum will discuss the oceans, atmosphere, space, waterfront, species and ecosystems, in addition to the presentation of a study on the circular bioeconomy.

The Green Saudi Initiative aims to reduce carbon emissions by more than 4% of global contributions, through renewable energy projects that will provide 50% of electricity production inside the Kingdom by 2030 and projects in the field of clean hydrocarbon technologies that will erase more than 130 million tons of carbon emissions, in addition to raising the rate of diversion of waste from landfills to 94%.

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Saudi Arabia's Digital Advertising Boom: Addressing Economic Leakage, Boosting Local Content

A digital advertising event recently held in Riyadh (Asharq Al-Awsat)
A digital advertising event recently held in Riyadh (Asharq Al-Awsat)
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Saudi Arabia's Digital Advertising Boom: Addressing Economic Leakage, Boosting Local Content

A digital advertising event recently held in Riyadh (Asharq Al-Awsat)
A digital advertising event recently held in Riyadh (Asharq Al-Awsat)

Saudi Arabia’s digital advertising sector is experiencing rapid growth, but a significant portion of its revenues is leaking to foreign platforms. To maximize the impact on the national economy, experts are calling for strategies to curb this outflow and redirect it to local channels.

The importance of retaining digital ad revenues lies in the substantial size of this market. It is estimated that approximately $1 billion in ad spent is lost annually to foreign platforms, representing a considerable loss to Saudi Arabia’s economy.

Dr. Ebada Al-Abbad, CEO of Marketing and Communications at Tadafuq, a Saudi digital advertising network, told Asharq Al-Awsat that the problem stems from the fact that although advertisers, products, and audiences are often local, the largest share of financial gains goes to foreign platforms. He estimated that 70-80% of the $1.5 billion spent on digital advertising in Saudi Arabia in 2022 went to global platforms such as Google and Facebook. This results in the national economy losing nearly $1 billion annually from this sector alone.

Al-Abbad noted that government agencies in Saudi Arabia also contribute to the outflow. He explained that public sector spending on digital advertising, intended to raise awareness among citizens and residents, frequently ends up on foreign platforms. Government spending makes up about 20-25% of the total digital ad market in the Kingdom, meaning hundreds of millions of riyals leave the country annually, weakening the local digital economy.

Al-Abbad argues that Saudi Arabia needs strong local digital ad networks to keep this revenue within the national economy. These networks would help create jobs, drive innovation, and promote cultural diversity in digital content. Developing local platforms would also enhance Saudi Arabia’s digital sovereignty by ensuring that data remains within the country and is not controlled by foreign entities.

Moreover, local networks would reduce dependence on international platforms, ensuring that the economic benefits of digital advertising remain in the Kingdom, he said, stressing that this would align with Saudi Arabia’s broader Vision 2030 goals, which emphasize building a robust, diversified economy driven by local industries and digital transformation.

Globally, the digital advertising sector is growing rapidly. In 2022, worldwide spending on digital ads reached $602 billion, and it is projected to hit $876 billion by 2026. In the Middle East and North Africa (MENA) region, the digital ad market grew to $5.9 billion in 2022, with Saudi Arabia’s market accounting for over $1.5 billion.

In other countries, the digital ad sector plays a crucial role in boosting national economies. For example, in the United States, the digital advertising industry contributed $460 billion to the GDP in 2021, about 2.1% of the total. In the UK, the sector accounted for 1.8% of GDP in 2022. This shows how important digital advertising can be in driving economic growth.

One of the key challenges facing Saudi Arabia’s digital ad sector is the dominance of global platforms like Google and Facebook, which control 60% of the global digital ad market, Al-Abbad told Asharq Al-Awsat. This dominance results in a significant outflow of revenue and allows these platforms to control digital data and content. He warned that this could undermine Saudi Arabia’s national sovereignty over its digital economy.

To counter this, he emphasized that Saudi Arabia needs to build competitive local networks that can retain a larger share of the market. This will not only keep more revenue in the country but also strengthen the Kingdom’s control over its digital data and content.