Latest news with #ProspectsfortheNon-ProfitSector2025
Arabian Business
05-03-2025
- Business
- Arabian Business
Saudi Arabia's non-profit sector passes SR100bn for first time
For the first time in its history, Saudi Arabia's non-profit sector has exceeded SR100bn ($26.7bn) in economic contribution, accounting for 3.3 per cent of the Kingdom's gross domestic product (GDP), according to the Prospects for the Non-Profit Sector 2025 report by the King Khalid Foundation. The report highlighted key contributions within the sector, with Awqaf accounting for SR48bn ($12.8bn), according to the General Authority for Awqaf. Non-profit organisations contributed SR47bn ($12.5bn) in spending, based on data from the General Authority for Statistics (GASTAT). Saudi non-profit sector Additionally, volunteering added an estimated SR5bn ($1.3bn) in economic value, while cooperative societies contributed SR2bn ($533m), according to the Ministry of Human Resources and Social Development. The sector's rapid growth is on track to achieve the Vision 2030 target of reaching 5 per cent of GDP two years ahead of schedule. Education and research organisations led the sector in revenue generation, surpassing SR19bn ($5.1bn), while health organisations recorded the highest spending at SR15bn ($4bn), driven by the conversion of government assets in health and education into non-profit entities. Meanwhile, organisations focused on culture, entertainment, and social services reported the highest employment rates. The report also examined funding sources, emphasising the role of government support and digital donation platforms, which collectively raised over SR15bn ($4bn) in 2024. The National Platform for Charitable Work (Ehsan) saw a significant contribution from small donors (SR 1, SR 10, and SR 100), while major philanthropists (donations of SR 100,000 or more) accounted for 26 per cent of total contributions.
Leaders
05-03-2025
- Business
- Leaders
Saudi Arabia's Non-Profit Sector Tops SAR 100 Billion Impact
Saudi Arabia's non-profit sector has contributed over SAR 100 billion to the national economy, making up 3.3% of the Kingdom's gross domestic product (GDP), according to the Prospects for the Non-Profit Sector 2025 report by the King Khalid Foundation. GASTAT The report highlights key economic contributions within the sector: Awqaf accounted for SAR 48 billion, as per the General Authority for Awqaf, while non-profit organizations contributed SAR 47 billion in spending, based on data from the General Authority for Statistics (GASTAT). Additionally, volunteering generated an estimated SAR 5 billion in economic value, and cooperative societies added SAR 2 billion, according to the Ministry of Human Resources and Social Development. The sector's rapid growth is positioning it to achieve the Vision 2030 goal of reaching 5% of GDP two years ahead of schedule. Education and research organizations led revenue generation, surpassing SAR 19 billion, while health-related organizations recorded the highest spending at SAR 15 billion—largely driven by the transformation of government assets in health and education into non-profit entities. Meanwhile, organizations focused on culture, entertainment, and social services reported the highest employment rates. Ehsan The report also examined funding sources, emphasizing the impact of government support and digital donation platforms, which collectively raised over SAR 15 billion in 2024. The National Platform for Charitable Work (Ehsan) saw significant contributions from small donors (SAR 1, SAR 10, and SAR 100), while major philanthropists (donating SAR 100,000 or more) accounted for 26% of total contributions. Community engagement in the non-profit sector remained strong, with 23% of Saudi citizens participating in volunteer work and 47% making donations in 2024. The full report is available for download on the King Khalid Foundation's official website: Related Topics : Saudi Non-Profit Sector Revenue Surges to $14.5 Billion in 2023 Future of Sustainability Initiative: Saudi Arabia Promotes Fashion Recycling Saudi Arabia Shines at ITB Berlin with Immersive 'Saudi Land' Showcase Saudi Arabia to Launch NextGen Investment Forum to Cultivate Future Hospitality Leaders Short link : Post Views: 1
