From Themes To Objectives, Everything You Need To Know About ‘Saudi Vision 2030’

The historic ‘Saudi Vision 2030’ includes a number of goals and reform strategies for the Kingdom’s economic success, including reforms to several industries such as tourism and defence, and opening Saudi Aramco to private investment through a partial IPO.

It has been built around three primary themes.

In order to achieve a vibrant society, Saudi Arabia will focus on its people and the Islamic faith. This will happen through numerous commitments, including establishing the largest Islamic museum in the world, increasing the number of Umrah visitors, and developing Saudi cities.

Furthermore, in order to achieve a thriving economy, the country will diversify its economy and create dynamic job opportunities for its citizens. This will happen through a series of commitments to education, entrepreneurship and innovation.

In order to be an ambitious nation, Saudi Arabia will focus on accountability, transparency and effectiveness in its governing strategy. The Kingdom will establish zero tolerance for all levels of corruption, boost transparency and bolster the non-profit sector.

Goals and Objectives of Saudi Vision 2030

1. To rank three Saudi cities in top-ranked 100 cities in the world

2. Household spending to be increased on cultural and entertainment activities inside the country from 2.9% to 6%

3. Household savings to be increased from 6% to 10% of total household income

4. Ratio of individuals exercising at least once a week to be increased from 13% of population to 40%

5. Average life expectancy to be increased from 74 years to 80 years

6. Unemployment rate to be reduced to 7% from 11.6%

7. Women participation in workforce to be increased to 30% from 22%

8. To become one of the top 15 largest economies in world from current position of 19th

9. Share of non-oil exports in non-oil GDP to be increased from 16% to 50%

10. Localisation of oil and gas sectors to be increased from 40% to 75%

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