- by foxnews
- 08 Apr 2025
How Saudi Arabia Vision 2030 Boost Travel Industry, Become Global Economic Power House, What You Need to Know
In a historic turn for Saudi Arabia̢۪s economic diversification, the kingdom̢۪s non-oil private sector economy recorded its strongest growth in over a decade in January 2025. Buoyed by a significant surge in new orders and accelerating business output, the Saudi Arabia Kingdom's economy continues to reap the benefits of its strategic push to reduce reliance on oil, positioning Boosts itself as a global leader in non-oil industries.
- by travelandtourworld
- 23 Feb 2025
- in travel
1.7 k views
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Real estate development, technology, tourism, and manufacturing are some of the non-oil industries that have particularly benefitted from this strong performance. With its vast investment in state-of-the-art infrastructure, Saudi Arabia has also worked to modernize its transport, healthcare, and educational sectors, thus fostering an environment ripe for business and economic expansion.
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Exports are also contributing to the surge in non-oil activity, particularly in the Gulf region, as Saudi businesses take advantage of the kingdom's competitive pricing and effective marketing strategies. Export sales have been robust, reflecting growing demand for Saudi products, especially in neighboring Gulf Cooperation Council (GCC) countries.
This economic overhaul is timely, as global demand for energy is shifting, and Saudi Arabia is poised to capture new opportunities in sectors outside of oil. This shift not only supports the country's economy but also helps generate new jobs, fostering greater employment opportunities for Saudi nationals.
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Inflationary pressures are expected to subside as supply chains stabilize and businesses continue to find innovative ways to streamline costs and operations. The overall economic sentiment remains positive, with businesses expressing optimism for sustained demand growth and favorable market conditions throughout 2025.
The success of the Vision 2030 transformation will undoubtedly influence other nations in the region, particularly as other Gulf states also look to diversify their economies and reduce dependence on oil revenues. As Saudi Arabia continues to lead the way, it sets the stage for a new era of economic growth in the Middle East and beyond.
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