Saudi Arabia’s GDP set to reach 4.5% by 2027 amid robust non-oil growth

🇸🇦 Saudi Arabia’s Growing Economy: GDP Could Reach 4.5% by 2027

According to recent economic projections, Saudi Arabia is expected to experience solid GDP growth, with a rate potentially reaching 4.5% by 2027.

🔹 Drivers of this growth

Strong non-oil growth

• Sectors outside of oil, such as services, tourism, finance, and industry, are contributing significantly to this expansion.

• Economic diversification, promoted through the Vision 2030 plan, continues to stimulate investment and innovation.

Foreign investment and structural reforms

• Opening up to foreign investment and regulatory reforms enhance Saudi Arabia’s economic competitiveness.

• Initiatives in technology and digital sectors are supporting job creation and GDP growth.

Resilience to oil price fluctuations

• Despite historical dependence on oil, the growing share of the non-oil economy allows Saudi Arabia to reduce vulnerability to global oil price swings.

⚖️ In summary

Saudi Arabia is on a promising economic trajectory thanks to diversification and investment in non-oil sectors, which could drive GDP growth to 4.5% by 2027. This highlights the effectiveness of economic reforms and the country’s gradual transition toward a less oil-dependent economy.