Saudi Arabia's Quality of Life Program Powers Investment Through Vision 2030 Reforms

Yahoo

2 days ago

Saudi Arabia advances toward its Vision 2030 goals, the Quality of Life Program (QoL) is emerging as a central driver of both national well-being and global investment momentum.
The Quality of Life Program delivered 173 initiatives in 2024 alone,
Quality of life as an abstract ideal
Riyadh, June 04, 2025 (GLOBE NEWSWIRE) -- RIYADH, Saudi Arabia — As Saudi Arabia advances toward its Vision 2030 goals, the Quality of Life Program (QoL) is emerging as a central driver of both national well-being and global investment momentum.
Launched in 2018, the program is one of 11 Vision Realization Programs and is led by CEO Khalid Albaker. It focuses on enhancing livability while positioning sectors such as tourism, culture, and sports as strategic economic assets.
"We don't view quality of life as an abstract ideal," Albaker said. "It's a measurable, investment-ready platform that's already delivering real returns—for our citizens and for our partners around the world."
In 2024, the Kingdom reported a 3.9% increase in non-oil gross domestic product, driven significantly by lifestyle sectors historically seen as non-core. Foreign direct investment surged to $20.69 billion in Q4 2024, underscoring growing global confidence in the Saudi economy.
"We've always seen arts, culture, and sports not as luxuries, but as industries. They are engines of economic diversification, talent retention, and global perception," Albaker said.
The Quality of Life Program delivered 173 initiatives in 2024 alone, with 85 percent of its key performance indicators achieved or on track. Notable developments include:
The number of hotel rooms rising from 280,800 in 2023 to 475,900 in 2024.
The planting of 1.12 million trees and the establishment of 149 new parks.
Public space increasing to 6.53 square meters per capita—130% above initial targets.
Tourism growth has been robust, with international visits climbing from 41 million in 2018 to 115.9 million in 2024. The Kingdom is also preparing to host global events including the AFC Asian Cup in 2027, Expo 2030, and the FIFA World Cup in 2034.
"Whether it's 100 million annual tourists, a 390% increase in Public Investment Fund assets since 2016, or our leap in global happiness rankings, our progress is tangible," said Albaker.
QoL is also contributing to Saudi Arabia's innovation-based economic shift. Private sector GDP contribution has increased from 40% in 2016 to 47% in 2024. Public-private collaborations are accelerating innovation and unlocking opportunities across creative sectors.
"Our reforms have empowered entrepreneurs, opened new doors for creatives, and created environments where global and local ideas can thrive together," Albaker said.
Saudi Arabia currently ranks first among G20 countries in safety perception and has raised life expectancy to 78.8 years. These achievements reflect wider investments in public health, infrastructure, mobility, and urban livability.
"The real measure of success is when quality of life becomes self-sustaining," Albaker added. "When cities organically support wellness, creativity, and community—that's when you know you've created a thriving ecosystem."
With major international platforms on the horizon, including Expo 2030 and the FIFA World Cup 2034, the Quality of Life Program is positioned to expand its influence. The program will continue to direct investment into sustainable development, cultural infrastructure, and next-generation entertainment technologies.
"We're building a lifestyle economy at scale," Albaker said. "For investors, this is an invitation not only to witness transformation—but to be a part of it."
Saudi Arabia's evolving national landscape offers measurable impact, long-term economic vision, and cultural ambition—framing a new regional benchmark for livability and investment potential.
Attachments
The Quality of Life Program delivered 173 initiatives in 2024 alone,
Quality of life as an abstract ideal
CONTACT: Badr Al-Rashed Media & Communications – Quality of Life Program Center [e-mail] | [phone] Naif Al-Shahrani Media Relations – Edelman Saudi Arabia [e-mail] | [phone]