Saudi Arabia has secured second place among G20 countries in the UN International Telecommunication Union’s 2024 ICT Regulatory Tracker, marking a significant milestone in the Kingdom’s efforts to modernize its digital regulatory environment.
The achievement underscores Saudi Arabia’s progress in developing a robust regulatory framework for the telecommunications and information technology sectors.
It reflects the country’s commitment to fostering innovation, building advanced digital infrastructure, and implementing effective regulatory tools that support investment and fuel the growth of the digital economy.
The Communications, Space and Technology Commission said the index is designed to assist policymakers and regulators in keeping pace with rapid changes in the sector.
The index evaluates 194 countries based on 50 indicators across four key areas: regulatory authority independence, mandate, framework, and market competition.
The Kingdom’s performance in the ICT Regulatory Tracker adds to a string of international successes in the technology sector.
It has maintained its position as the second-highest ranking G20 nation in the ITU’s ICT Development Index for a second consecutive year. Saudi Arabia also ranked second among G20 countries in the UN’s Telecommunication Infrastructure Index.
Separately, the Ministry of Communications and Information Technology announced on Tuesday that Saudi Arabia was named “Country of the Year” and topped the global rankings for the fastest-growing tech startup ecosystem in the 2024 StartupBlink Index.
Riyadh was recognized as the world’s fastest-growing city in this category.
Saudi Arabia ranked first globally in healthtech, and second in both insurtech and investment tech, as well as in logistics and delivery applications. It placed third in digital payments, fifth in gaming, and seventh worldwide in edtech.
Riyadh also posted the highest global growth rate in innovation and entrepreneurship ecosystems. The capital ranked first in nanotechnology and transportation technology, and second in fintech.
As part of its broader strategic vision, the Saudi government is working to maximize the economic impact of the tech sector. The digital economy now contributes more than SAR495 billion ($132 billion) to GDP, representing 15% of the total. The ICT market size exceeded SAR180 billion ($48 billion) in 2024, creating over 381,000 quality jobs.
Women’s empowerment has been a cornerstone of this transformation. Female participation in the tech sector surged from 7% in 2018 to 35% in 2024, the highest in the region and above the G20 and EU averages.
In the realm of digital government, Saudi Arabia ranked fourth globally for digital services, second among G20 nations, and first in the region.
