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Saudi Arabia Vision 2030 — Goals and Objectives

July 14, 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 IndexTarget  by 2030
Social Capital IndexFrom 26 to top 10
Global Competitive IndexFrom 25 to top 10
Logistics Performance IndexFrom 49 to 25
Government Effective IndexFrom 80 to 20
E-government Survey IndexFrom 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.