Saudi Arabia surpasses key Vision 2030 targets ahead of schedule

Saudi Arabia has made significant strides in its Vision 2030 initiative, achieving and surpassing numerous targets ahead of schedule, according to the Vision 2030 Annual Report 2024.

Launched in 2016 under the leadership of King Salman bin Abdulaziz Al Saud and Crown Prince Mohammed bin Salman, Vision 2030 aims to reduce the kingdom’s dependence on oil, diversify its economy, and develop public service sectors.

The initiative is structured into three five-year phases, each building upon the successes of the previous.​

As of the end of 2024, 85 per cent of the 1,502 active initiatives under Vision 2030 are either completed or on track, with 674 completed and 596 progressing as planned.

Additionally, 93 per cent of national programme and strategy indicators have met, exceeded, or are close to meeting their 2024 interim targets.

Eight Vision 2030 targets have been achieved six years ahead of scheduled, reported Saudi Press Agency (SPA).

Reflecting on these accomplishments, Crown Prince Mohammed bin Salman stated, “Nine years into Vision 2030, we stand proud of what our people have accomplished. They have turned ambition into action and goals into milestones. We have not only met key targets – we have surpassed many. Looking ahead, our resolve is stronger than ever. We will accelerate delivery, embrace every opportunity, and further elevate the kingdom’s position as a global leader.”

Growth across sectors aligns with Vision 2030 aims

In the tourism sector, the kingdom welcomed over 100 million tourists, surpassing its 2030 target seven years early.

This achievement is attributed to key government initiatives, robust international marketing campaigns, and partnerships with global platforms.

The introduction of e-visa programmes, now available to 66 countries, has enhanced accessibility for international visitors. ​

Cultural advancements include the registration of eight Saudi sites on the UNESCO World Heritage List and the inscription of 16 cultural elements on UNESCO’s Representative List of Intangible Cultural Heritage.

The kingdom also launched its first specialised college of arts at King Saud University.​

Economic diversification efforts have led to the Public Investment Fund’s assets under management exceeding SAR3.53tn, more than triple since Vision 2030’s launch.

The private sector’s contribution to GDP reached 47 per cent, surpassing the 2024 target. Employment in small and medium-sized enterprises reached 7.86 million, exceeding expectations.​

Social reforms have seen women’s labour force participation rise to 36 per cent by the end of 2024, a significant increase from 17 per cent in 2017.

The percentage of Saudi women in middle and senior management positions reached 43.8 per cent.

The kingdom also achieved its 7 per cent unemployment target.​

Healthcare coverage expanded to 96.4 per cent of population centers, moving closer to the 2030 goal of 99.5 per cent. The average life expectancy increased to 78.8 years, nearing the 2030 target of 80 years. Homeownership among Saudi households reached 65.4 per cent, surpassing the 2025 target.​

Environmental initiatives under the “sustainable vision” axis include the planting of over 115 million trees and the rehabilitation of more than 118,000 hectares of degraded land.

The kingdom also launched its first hydrogen-powered bus and taxi, and established the world’s first solar-powered desalination plant.​

Digital transformation in Saudi Arabia

In the realm of digital transformation, Saudi Arabia ranks first in the internet users index and second globally in both the digital transformation index for companies and the technology development and application index.

The digital transformation of the judicial system saw 98 per cent of litigation sessions conducted electronically, totaling over 2.3 million sessions.​

Major projects contributing to these achievements include the Red Sea Project, which has opened several luxury resorts and aims to attract one million visitors annually by 2030.

The Sindalah luxury island destination in NEOM was inaugurated in October 2024, and the Soudah Peaks project aims to develop a mountain tourism destination in ‘Asir Province.