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Home Internationalization

Vision 2030: Overview and Goals for Saudi Arabia’s Economic and Social Development

Is Vision 2030 Program Achieving Its Goals as Planned?

Matteo Ippoliti by Matteo Ippoliti
January 18, 2023
in Internationalization, Middle East Markets
0
saudi arabia
https://www.linkedin.com/company/azimuth-international

We have previously provided a general overview of Vision 2030, a project in which Saudi Arabia is fully committed to achieving its goals by, indeed, 2030. 

Specifically, Vision 2030 was mainly developed by the Council of Economic Affairs and Development, headed by Deputy Crown Prince Mohammed bin Salman. The main goal is to “harness the strengths God has given” by improving its positions related to investments and strategies in the Islamic world.

Vision 2030, as we have already seen, is based upon 3 main pillars: a vibrant society, a thriving economy, and an ambitious nation.

In a nutshell, Saudi Arabia wants to be noticed by the whole world by excelling in all existing fields, including technology, tourism, and medicine.

To date, there has been a lot of progress, and everything seems to be going according to plan. Below we will briefly look at some of the main achievements Saudi Arabia has made since the launch of the Vision 2030 program.

Vision 2030: main goals achieved

The Vision 2030 program is undoubtedly one of the most ambitious in the world, with so many goals of which several have already been achieved. Notably, Saudi Arabia has committed itself to achieving the most in technology, in the investment world, and in the construction and tourism sectors.

Since the launch of Vision 2030, for example, GCC residents wishing to discover Saudi Arabia’s history can apply for a new Visitor Visa. This has led to an increase of as many as 56,000 visitors in just one month.

At the same time, Vision 2030 has led to a major drop in traffic levels. The Kingdom has heavily invested in constructions and maintenance of roads infrastructure, with the number of accident deaths decreased by 55% in just 5 years.

The medical field has also reached important levels, with more than 90% of patients receiving medical care within 4 hours of arrival.

In the field of tourism, as is easy to guess, Saudi Arabia has held its own against some of the most popular countries in the world, with over 3800 entertainment events and over than 80,000,000 attendees.

Social goals achieved thanks to Vision 2030

One of the most important areas for the Vision 2030 program is definitely the social field. After all, Saudi Arabia has only been evolving exponentially in recent years, especially with the development of big cities including Dubai.

As of today, thanks to projects such as Vision 2030, the population is definitely living better, and women have many more rights. Suffice it to say that the average life expectancy has increased from 74.8 to 73.5 Years from 2016 to 2020 and the whole Kingdom is ranked as the 3rd happiest country in the Arab Worlds.

Moreover, Saudi Arabia scored 80/100 in the 2022 World Bank Women Business and Law Report, 10 points up from 2020.

Other Vision 2030 achievements

Below is a short list of some of the goals achieved through Vision 2030 in other fields:

  • Increased investment from foreign countries worth $13,800,000,000;
  • Increased acceptance rate in universities to 10%;
  • Entry of as many as 220,000 graduates into the labor market;
  • Increase in the number of annual visitors to Saudi Arabia to 10,000,000;
  • Housing programs enjoyed by as many as 210,000 Saudi families;
  • Record investment of $987,000,000 in Saudi startups, a growth of 72% from 2021 to 2022.

We are still 7 full years away from 2030, but all this already makes it clear that Vision 2030 is one of the most ambitious programs ever, as well as one of the most concrete. 

The full program is available here, while more information is available on the Vision 2030 Website. 

Foto di Abdullah Shakoor da Pixabay

Tags: Saudi Arabia

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