Despite the impact of oil production cuts on Saudi Arabia’s GDP, the country remains a strong emerging market in 2024. This is due to the growth of its non-oil economy, which is supported by ongoing efforts to diversify the country’s economic activities.
Eight years ago, Crown Prince Mohammed bin Salman launched the Vision 2030 program, kickstarting a social transformation in the country. This transformation is fueling economic growth beyond the traditional oil sector and providing employment opportunities for the rapidly growing local workforce.
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