Saudi Arabia has achieved 85 per cent of its Vision 2030 programmes and initiatives ahead of schedule, with the Kingdom’s economy more than doubling to approximately US$1.3 trillion since 2016. Speaking at the Fortune Global Forum Conference 2025 in Riyadh, Minister of Investment Khalid Al-Falih revealed that the country has already surpassed key targets, including attracting 675 regional headquarters—well ahead of the 500 target set for 2030.
The remarkable progress reflects the scale of economic transformation unfolding across the Gulf region, where neighbouring emirates are similarly advancing infrastructure and investment initiatives. Saudi Arabia’s success underscores the competitive landscape for regional business hubs that extends across the GCC.
Economic Expansion and Regional Headquarters
Minister Al-Falih highlighted that the Kingdom’s gross domestic product has grown from US$650 billion in 2016 to approximately US$1.3 trillion today—a doubling of economic output in less than a decade. The acceleration has been driven by significant foreign direct investment, which has increased from 22 per cent five years ago to 30 per cent at present.
A flagship achievement is the establishment of 675 regional headquarters in Saudi Arabia, exceeding the Vision 2030 target of 500 by 175 locations. This expansion reflects the Kingdom’s success in creating a competitive business environment that attracts multinational corporations and financial institutions seeking Middle East operational bases.
Women’s Workforce Participation Surpasses Targets
Another significant milestone achieved six years ahead of schedule is women’s participation in the Saudi workforce, which has reached 37 per cent. This substantial increase reflects broader societal reforms and policy changes aimed at unlocking the full potential of the Kingdom’s human capital.
Employment and Economic Diversification
The Minister noted that unemployment has declined dramatically from 30 per cent to 7 per cent, demonstrating the effectiveness of Vision 2030’s economic reforms. Meanwhile, the contribution of non-oil sectors to GDP has increased significantly to 56 per cent, compared to just 40 per cent before the vision’s launch.
This diversification mirrors regional efforts to reduce oil dependency across the GCC, with strategic industrial protections now being implemented to support emerging sectors.
Implications for the Gulf Region
Saudi Arabia’s accelerated achievement of Vision 2030 targets reflects the Kingdom’s economic momentum and regional competitiveness. The success in attracting regional headquarters and expanding non-oil sectors has implications for the broader Gulf business landscape, as companies weigh options across multiple economic centres in the region.
The progress also underscores Saudi Arabia’s appeal as an investment destination and highlights the ongoing competition among GCC nations to attract foreign capital and establish themselves as regional hubs for corporate operations and innovation.
