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ECONOMY
Outlook for the economy remains positive, with private sector business activity and foreign investment expected to rise in the foreseeable future.
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December 2024
BUDGET 2025
The country is keen to maintain its favourable economic conditions by driving its diversification strategy, attracting investors, and developing the non-oil sectors.
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COMMODITIES
As well as having the largest gold reserves in the MENA region, the kingdom boasts significant levels of silver, copper, and zinc.
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ESG
Preventing the degradation of land holds several ecological and social benefits, including food and water security
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REGIONAL PROSPECTS
Despite tough market conditions, the region has stayed above water, managing to lower inflation and post modest, yet steady, economic recovery.
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The kingdom has pledged to deliver the “tournament of a lifetime” after it was awarded hosting rights for the FIFA World Cup 2034.
Saudi Arabia will host more teams and more fans in one place than ever before with 48 nations competing across its five proposed host cities 10 years from now.
With a campaign titled “Growing. Together.” Saudi Arabia submitted its o cial bid book for the 2034 FIFA World Cup in July 2024, outlining its plan for hosting the tournament. The bid book unveiled the kingdom’s ambitions to hold the FIFA World Cup across five host cities – Riyadh, Jeddah, Al Khobar, Abha, and NEOM – and in 15 state-of-the art stadiums.
The centrepiece of those will be the new King Salman International Stadium in Riyadh, which will host the opening match as well as the FIFA World Cup Final. It will also become home to the Saudi National Football Team.
Ten FIFA Fan Festival sites are proposed, including one at King Salman Park in Riyadh, built over 100,000 square metres, and another planned along the iconic Jeddah Waterfront.
The compact tournament concept will enable an exceptional experience for players, fans, and o cials alike, with outstanding facilities and accommodations to suit every budget – all with short travel times via well-connected transport links. There is less than a two-hour average flight time between the five host cities and visitors will also benefit from a seamless immigration process.
Fans will have the chance to explore the country’s eight UNESCO World Heritage Sites, as well as appreciate distinctive architecture, delicious food, vibrant art scene, live music events, and ‘hafawah’ – Saudi’s warm hospitality.
Having hosted more than 150 international sports events in recent years, including the FIFA Club World Cup in 2023 and the annual Formula 1 Saudi Arabian Grand Prix in Jeddah, the kingdom has raised its reputation as a world-leading sports hub, with an extensive national infrastructure already in place.
The FIFA World Cup 2034 is expected to further boost the burgeoning tourism industry, which welcomed over 100 million visitors in 2023.
