Saudi Arabia is one of the biggest and richest markets in the Gulf and far beyond thanks to its large oil supplies. With the ambitious Vision 2030 the country tries to diversify and liberalize its economy to promote high-grade foreign trade and investment. This will create new opportunities in addition to existing ones (healthcare, IT and FMCG).
Saudi Arabia offers a stable environment for business from a legal and political viewpoint. The country offers not only a big and rich market, but also access to those of its neighboring countries. Under Vision 2030 further privatization of economic sectors, better education of the youth and the work force and creation of special economic zones are promoted.
Saudi Arabia is a conservative Islamic country, but under the current crown prince reforms are made which may make the country more open and competitive. Saudi Arabia is internationally not only a powerful oil state, but has profiled itself during the last years more and more as a regional power, both politically as militarily.
Inhabitants: 32.9 mill. (25.2% <14 y.)
GDP per capita: $20849
Unemployment: 5.5% (25% 15-24 y.)
Education: 66.6% tertiary education
GDP: $687 billion (-0,9%)
Import/export: $196/239 billion
FX rate SAR/EUR: 0.23 (inflation -0.8%)
Reg. position: 8th EoDB (4th GCR)
FDI (net): $1.4 billion (-81%)
Tax benefits export and R&D
Special economic cities
Financial programs and incubators
Tax and cooperation treaty NL
Member EU-GCC Macro Ec. Dialogue
Member GCC, OPEC and WTO
Most trade with JP, CN, IN, US & KR
Data Population (WB database '17 ('16 Education)), Economy (IMF database '17, WB database '17, XE.com '19, Ease of Doing Business '18, Global Competitiveness Report '18), Investment (World Investment Report '18), International (IMF database '18)
Photo: Maher Najm