Launched on April 25, 2016, Vision 2030, Saudi Arabia’s blueprint for economic and social transformation marks it 8th year and the halfway point between 2016 and 2030.
A comprehensive and ambitious roadmap for change, Vision 2030 has three primary themes, a vibrant society, a thriving economy and an ambitious nation. Within these main pillars are a vast number of initiatives, metrics and goals.
According to the 2023 annual report for Vision 2030 of it’s 1,064 initiatives, “An impressive 87 percent planned for 2023 are completed or on track. Key performance indicators for 2023 include 243 metrics, with 81 percent achieving their third-level targets and 105 indicators surpassing their future targets for 2024/2025.”
And, according to the Saudi Gazette:
“… aside from the initiatives’ progress, that 81% of the third-level performance indicators have met their targets, with 105 indicators already surpassing future goals set for 2024/2025. The Public Investment Fund has also seen its managed assets grow significantly to SR2.81 trillion, marking a substantial increase from SR2.09 trillion in 2016.
The Kingdom has achieved a historic increase in the number of Umrah pilgrims, with 13.56 million visitors exceeding the 2023 target. Additionally, the number of Saudi heritage sites listed with UNESCO has grown to seven, reflecting the nation’s rich cultural heritage and its growing recognition on the global stage.
With Saudi Arabia hosting the Expo 2030 in Riyadh, the Kingdom continues to bolster its regional and international stature, contributing to global dialogues on economic and cultural development. The tourism sector, too, has seen impressive growth, with Saudi Arabia welcoming 106 million visitors, including 27.4 million international tourists, and ranking second in the international tourist growth rate.
Efforts to enhance the quality of life have also shown positive results, with life expectancy reaching 78.10 years and health services coverage extending to 96.41% of the population centers. In the realm of physical activity, the percentage of adults engaging weekly has reached 62.3%, nearing the Vision’s overall target.
The housing sector has also seen significant achievements, with 66,000 Saudi families receiving homes and the percentage of citizens owning their homes reaching 63.74%. These efforts are part of the broader goal to increase home ownership to 70% by 2030.”
Ultimately, Saudi Arabia plans to invest $7 trillion to implement Vision 2030, with funding from the PIF and the private sector. Foreign direct investment reached a total of $640 billion in 2022.
As any observer of the Kingdom will note, Vision 2030 initiatives are closely tracked and measured. While more difficult to measure, the psychological impact of Vision 2030 – on Saudi youth, women, entrepreneurs, artists, creatives and other key elements of society – has been even more profound.
For additional commentary on Vision 2030 and Crown Prince Mohammed Bin Salman, please see Richard Wilson’s recent article in Al-Arabiya, Doing the work: MBS’ true legacy
For more on the 8th anniversary of the Vision 2030 launch see here, here and here.
