Vision 2030 is the forward thinking initiative of Crown Prince Mohammed bin Salman. It sets down a plan for the Kingdom of Saudi Arabia’s future with 24 goals aimed at inspiring economic, political and social development.
Saudi Arabia has undergone consistent modernization and development since its reunification in 1932. Each generation has built on the progress made by the previous generation to improve the lives of the Kingdom’s citizens using the wealth generated from the Kingdom’s natural resources. Every measure of human development – life expectancy, infant mortality, literacy, per capita income, etc. – has improved dramatically in the span of a single generation.
A new generation brings new challenges and opportunities. In April 2016, Crown Prince Mohammed bin Salman unveiled Vision 2030, an ambitious program of development for the Kingdom. Vision 2030 seeks to build on Saudi Arabia’s strengths as an investment powerhouse situated in the heart of the Arab and Islamic worlds, with strong geographic connections to Europe, Asia and Africa.
Vision 2030 outlines 24 specific goals for economic, political and societal development. It further articulates 18 commitments to achieve these goals – with specific initiatives in renewable energy, manufacturing, education, e-governance, entertainment and culture.
For each of the three pillars of Vision 2030 – a vibrant society, a thriving economy, and an ambitious nation – the Kingdom has charted 18 measurable goals to be achieved by the year 2030.
- Increase capacity to welcome Umrah visitors from 8 million to 30 million per year
- Increase average life expectancy from 74 to 80 years
- Have three Saudi cities recognized among the Top 100 cities in the world
- Increase private sector contributions to Gross Domestic Product from 40 per cent to 65 per cent
- Increase foreign-direct investment from 3.8 per cent of GDP to the international average of 5.7 per cent of GDP
- Rank Saudi Arabia among the Top 15 largest economies in the world, moving up from its current position of 19th
- Increase women’s participation in the workforce from 22 per cent to 30 per cent
- Lower the rate of unemployment from 11.6 percent to 7 percent
- Increase contributions of small and medium enterprises from 20 per cent to 35 per cent of GDP
- Increase share of non-oil exports from 16 per cent to 50 per cent of non-oil GDP
- Increase non-oil government revenue from SAR 163 billion to SAR 1 trillion
- Raise the non-profit sector’s contribution from less than 1 per cent of GDP to 5 percent of GDP
For further information on the Kingdom of Saudi Arabia’s Political, Economic & Social Development please see this report.
