Nine Years of Saudi Vision 2030: Prosperity Amid Global Turbulence

Asharq Al-Awsat

26-04-2025

Nine years have passed since Saudi Arabia launched its ambitious Vision 2030 initiative, and the transformation the Kingdom has witnessed has been both rapid and remarkable. With high aspirations and a comprehensive outlook, Vision 2030 stands as the largest and most ambitious project in the nation's history, demanding relentless effort, strategic foresight, and meticulous attention to detail.
To realize this vision, Saudi Arabia fundamentally restructured the way its government operates. A complete cultural shift in the public sector accompanied by over 900 legislative reforms and a host of structural and organizational changes created a robust framework for progress. New tools for monitoring, performance evaluation, combating corruption, and optimizing spending were introduced to ensure efficiency and sustainable financial management.
At the outset, Saudi Arabia carefully assessed its capabilities, identified its strengths and weaknesses, and crafted programs based on an ambitious vision to position itself among the world's leading nations. By adopting global best practices and implementing them rigorously, Vision 2030 itself has become a model example of international excellence. Progress is tracked through transparent, quantitative performance indicators, regularly evaluated and adapted to changing local and global dynamics—combining flexibility with discipline.
One of Vision 2030's greatest strengths is its holistic approach, addressing all key sectors through 14 national sectoral strategies. These are overseen at the highest levels through supreme committees ensuring alignment across government bodies. Ten Vision Realization Programs have driven transformation across multiple sectors, giving rise to more than 1,500 national initiatives—all closely monitored through meticulous governance.
Record-breaking achievements
Vision 2030 established clear, transparent performance indicators at all levels. Today, 93% of these indicators have either met or nearly met their annual targets, with success rates ranging from 85% to 99%. Of the 374 indicators with active tracking, 299 achieved their targets, 257 exceeded them, and 49 achieved between 85% and 99%. About 85% of initiatives are either complete or progressing according to plan, with 674 initiatives completed and 596 on track.
This progress confirms that Vision 2030 is moving firmly toward its objectives, turning aspirations into tangible realities through a strong, results-driven implementation system.
One of the central goals of Vision 2030 was to diversify Saudi Arabia's economy and reduce reliance on oil. Non-oil revenues have surged by 171% since 2016, now accounting for 40% of government revenue—up from 27% in 2015. Non-oil sectors' contribution to real GDP reached an unprecedented 51%.
These achievements came despite immense global challenges, including US-China trade tensions, the COVID-19 pandemic, and the Russia-Ukraine war, all of which disrupted economies and supply chains.
Vision 2030's flexibility allowed Saudi Arabia to quickly rebound and adapt, especially by boosting national security in vital sectors like agriculture and pharmaceuticals. Agricultural GDP reached a record SAR 114 billion, fish production rose from 40,000 tons in 2016 to 246,000 tons in 2024, and the country launched a national biotechnology strategy to boost vaccine production and ensure pharmaceutical security.
While many global economies struggled with inflation and stagnation, Saudi Arabia maintained steady growth. The OECD forecasts Saudi economic growth at 3.8% in 2025, outpacing the global average of 3.1%. International credit rating agencies have also maintained a stable, positive outlook on the Kingdom's economy.
Meanwhile, the Public Investment Fund (PIF) expanded its assets from SAR 720 billion in 2016 to SAR 3.53 trillion in 2024, surpassing its target of SAR 3.3 trillion. The PIF now owns 93 companies, collectively generating 1.1 million jobs.
Transforming citizens' lives
Unemployment among Saudis has fallen to a historic low of 7%, achieving Vision 2030's ambitious target, down from 13.6% in 2015. Private sector participation in the economy has risen to 47%, surpassing the 2024 target.
Programs like the Housing Program helped raise Saudi homeownership rates from 47% to 65.4%, significantly improving living standards. This sector continues to develop under Saudi Arabia's comprehensive real estate strategy, supported by constant governmental oversight.
Tourism and sustainability
Tourism, a vital pillar of Vision 2030, also witnessed profound transformation. Despite being heavily impacted by the pandemic, the sector rebounded, with its GDP contribution rising from 3.8% in 2019 to 4.4% in 2024, creating over 245,000 jobs. Investments in tourism soared from 1.2 billion SAR in 2021 to nearly SAR 15 billion by 2024. Saudi Arabia surpassed its goal of 100 million annual visitors ahead of schedule and raised the 2030 target to 150 million visitors.
Environmental sustainability also became a central focus through the Saudi Green Initiative, aimed at preserving the Kingdom's unique ecosystems and fulfilling its global climate commitments. The Kingdom has already planted nearly 100 million trees and reclaimed 118,000 hectares of degraded land, part of a long-term goal to plant 10 billion trees.
Saudi Arabia on the global stage
Vision 2030 elevated Saudi Arabia's global profile, making it one of the world's most attractive investment destinations. Foreign direct investment tripled compared to 2017, reaching SAR 77.6 billion by the end of 2024. Strategic sectors such as mining saw significant growth, with mining licenses rising from 224 to over 2,400, and investments valued at SAR 1.5 trillion.
Saudi Arabia's global influence was further bolstered by securing hosting rights to major international events, including Expo 2030 and the FIFA World Cup 2034. The Kingdom is also preparing to host other major events like the 2027 AFC Asian Cup and the 2027 World Water Forum, while successfully hosting groundbreaking events such as the first-ever Esports World Cup and UN desertification conferences.
Looking ahead
Since its launch, Vision 2030 has gone through two major phases: the first laid a solid foundation through economic, financial, and social reforms, and the second saw rapid achievements across multiple sectors. Many targets set for 2024 have already been met or surpassed, and others are well on track for 2030.
None of these accomplishments would have been possible without the unwavering commitment of the Saudi leadership and government. Vision 2030 is now a model for how a nation can evolve from adopting best practices to becoming one of the world's best examples itself.
As Saudi Arabia enters the next phase of its journey, a confident, energized nation looks forward to a future filled with global events, new milestones, and an unwavering sense of national pride.