Economic Diversification

Saudi Arabia is aggressively diversifying its economy away from oil under its Vision 2030 plan. Over 50% of the economy is now decoupled from oil, with non-oil sectors contributing 40% of government revenue. The Kingdom is investing heavily in AI, aiming to be a key player and establish large-scale data centers. The Public Investment Fund is instrumental in acquiring stakes in tech, gaming, and sports. Tourism is also a key growth area, with plans to increase its GDP contribution to 10% by 2030 and a long-term target of 20%.