The Gulf Cooperation Council Statistical Center praised the remarkable achievements made throughout Saudi Arabia during its 94-year journey, highlighting key statistics in various economic, social, and international competitiveness fields.
In recent years, Saudi Arabia has continued to make significant strides in development, aiming to build a prosperous and sustainable economic foundation by capitalizing on its abundant opportunities and resources. This progress has placed it among the world’s most advanced countries, in line with its leadership’s aspirations.
Saudi Arabia lends great support to its non-oil sectors, as part of its economic diversification plan, with non-oil activities contributing 68.4% to the GDP in 2023.
Commercial banks assets grew to $1 trillion in 2023, compared to $965.6 billion in 2022, marking a growth rate of 9.3%. Furthermore, the market value of the Saudi stock exchange reached $3 trillion in 2023.
The education sector has also witnessed significant development, at all levels. The number of school students increased to 6.1 million during the 2022/2023 scholastic year, compared to 5.8 million students in the 2018/2019 academic year, marking a growth rate of 5.3%.
The Saudi Vision 2030 has focused on developing the tourism sector, as part of its economic diversification program, given its potential for diversifying the sources of income and creating jobs. In 2023, 30.1 million people visited Saudi Arabia, compared to 18.3 million in 2022, a growth rate of 65%. Visitor spending in the Kingdom amounted to $40.6 billion in 2023, up from $29.7 billion in 2022, representing a 36.6% increase.
Saudi Arabia is also improving its global competitiveness, as evidenced by its top rankings in several international reports. These include first place in several indicators, such as the Global Cybersecurity Index, the Internet Users Index, the Long-Term Unemployment Growth Index, the Social Cohesion Index, and the Long-Term Labor Market Growth Index, according to the World Competitiveness Yearbook 2024.
In entrepreneurship, Saudi Arabia ranked first globally in several indicators, including ease of starting a business and the availability of good opportunities to start a business, according to the Global Entrepreneurship Monitor 2023/2024 Global Report
Source: spa.gov.sa