Saudi Arabia's Vision 2030: Achieving 87% Completion Rate, Booming Tourism, and Economic Diversification
Saudi Arabia's Vision 2030, launched eight years ago by Crown Prince Mohammed bin Salman, is a strategic initiative to transform the Kingdom by leveraging its cultural heritage, investment potential, and geographical location.
The plan aims to make Saudi Arabia a global hub for commerce, culture, and innovation, and has fostered significant growth and development in various sectors.
Endorsed by King Salman bin Abdulaziz, the initiative seeks to diversify the economy and improve quality of life.
The 2023 annual report shows that 87% of its 1,064 initiatives have been completed or are on track.
The text summarizes the progress of Saudi Arabia's Vision 2030 plan.
Key performance indicators for the third level show that 81% have met their targets, with 105 indicators surpassing goals set for the next two years.
Notable achievements include tourism, where Saudi Arabia welcomed 106 million visitors in 2023, making it the second fastest-growing tourism destination globally, and hosting a record-breaking 13.56 million Umrah performers.
In cultural heritage, the Kingdom has exceeded its target by increasing the number of UNESCO-listed Saudi heritage sites to seven.
The text reports on the strong economic growth in Saudi Arabia, with a GDP of SR2,959 billion and a non-oil GDP of SR1,889 billion.
The private sector contributed 45% to the GDP, indicating progress towards economic diversification.
The Public Investment Fund (PIF) managed assets worth SR2.81 trillion, surpassing targets.
Vision 2030 brought improvements in public health, with life expectancy at 78.10 years and health services covering 96.41% of the population.
Over 66,000 families received new homes, increasing the homeownership rate to 63.74%.
Saudi Arabia focuses on environmental sustainability and clean energy, exporting clean ammonia and integrating renewable energy into the national grid.
The Saudi Green Initiative involves planting over 49 million trees to improve the Kingdom's ecological footprint as part of its Vision 2030 plan.
Saudi Arabia aims to exceed its goals in the next phase of this strategic vision, focusing on sustainable development and innovation to become a global leader.