Saudi Arabia Vision 2030 — Goals and Objectives

14 Jul 2016

Want to know more about the Saudi Arabia of future? Saudi Arabian government has unveiled “Saudi Vision 2030” – the long term economic blueprint of Saudi Arabia. Saudi Vision 2030 is the Saudi Arabia’s vision for future. It is a package of social and economic policies that are designed to free the kingdom from dependence on oil exports and to build a prosperous and sustainable economic future by focusing on country’s strength and policies. Check out our Infographic “Saudi Arabia Vision 2030 – Goals and Objectives” for Saudi Arabia’s long term economic and social goals and Saudi Arabia’s government vision for the future.

 

Saudi Arabia Vision 2030 Goals and Objectives

Infographic by GO-Gulf Web Design Company Saudi Arabia

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Goals of Saudi Arabia Vision 2030 –

To rank three  Saudi cities in top-ranked 100 cities in the world

Household spending to be increased on cultural and entertainment activities inside the kingdom from level of 2.9% to 6% and household savings to be increased from 6% to 10% of total household income

Ratio of individuals exercising at least once a week to be increased from 13% of population to 40%

Global Index Target  by 2030
Social Capital Index From 26 to top 10
Global Competitive Index From 25 to top 10
Logistics Performance Index From 49 to 25
Government Effective Index From 80 to 20
E-government Survey Index From 36 to top 5

Average life expectancy to be increased from 74 years to 80 years

Unemployment rate to be reduced to 7% from the existing rate of 11.6%

By 2030, SMEs is estimated to account for 35% of GDP from existing contribution of 20% and private sector’s contribution from 40% to 65% of GDP

Women participation in workforce to be increased to 30% from 22%

To become one of the top 15 largest economies in world from current position of 19th largest economy in the world

Share of non-oil exports in non-oil GDP is to be increased from 16% to 50% and non-oil government revenues to be increased  from SAR 163 Billion to SAR 1 Trillion.

Localization of oil and gas sectors to be increased from 40% to 75%

To increase foreign direct investment from 3.8% to the international level of 5.7% of GDP and to increase the public investment fund’s assets from SAR 600 Billion to over 7 trillion

Non-profit sector’s contribution to GDP is to be increased from less than 1% to 5% and to rally one million volunteers per year compared to 11,000 now.