Saudi Economic Council Reviews Economic Growth with Vision 2030 Advancing

Saudi Arabia is charging toward a future that blends ambition with action. On October 1, 2025, the Council of Economic and Development Affairs (CEDA), led by Crown Prince Mohammed bin Salman, held a virtual summit to take stock of the Kingdom’s economic journey. The focus was clear: Saudi Vision 2030, the transformative plan launched in 2016 to shift from an oil-heavy economy to a diverse, innovative powerhouse. With global growth expected to inch up to 3.1% in 2026, Saudi Arabia’s projected 4.6% GDP surge—driven by non-oil sectors now making up 56% of the economy—sets it apart as a beacon of resilience in a world grappling with trade tensions and commodity swings. This isn’t just about numbers; it’s about a nation redefining its identity and inviting the world to join in.

What CEDA Uncovered: A Thriving Economy

The council dug into three key reports that paint a vivid picture of progress. The Ministry of Economy and Planning kicked things off with a global outlook, forecasting a slight rise in world trade for 2025. But challenges loom—think U.S.-China tariff spats, Red Sea shipping snags, and inflation pressures in major economies like the EU. Yet Saudi Arabia stands tall, backed by $450 billion in foreign reserves and a 2.5% GDP current account surplus, giving it the muscle to weather global storms.

At home, the numbers tell a story of transformation. Data from the General Authority for Statistics (GASTAT) shows a 3.9% GDP jump in Q2 2025, marking four quarters of steady gains. Non-oil sectors, growing at 4.7%, are the real stars, fueled by a 4.2% spike in trade, 3.5% in construction, and 5.1% in hospitality. Since Vision 2030 began, non-oil GDP has doubled, powered by $100 billion in annual public-private investments. Jobs are booming too—unemployment among Saudis dropped to 6.8% in Q2, beating Vision 2030’s 7% target years early. Women’s workforce participation has soared to 35%, and youth unemployment is half what it was a decade ago, thanks to training programs like the Human Capability Development Program that’s upskilled over a million people.

The Strategic Management Office shared a Q2 report card, revealing 93% of Vision 2030’s goals are on track or ahead of schedule. From better schools and hospitals to cultural festivals drawing millions, the plan’s pillars—a vibrant society, thriving economy, and ambitious nation—are taking shape. The National Center for Performance Measurement (Adaa) noted a 15% jump in public satisfaction with government services, driven by AI-powered digital platforms that cut red tape by 40%. These insights help leaders fine-tune their approach as Vision 2030 nears its 2026 milestone.

Spotlight on Game-Changing Sectors

CEDA zoomed in on sectors poised to reshape the economy. The halal industry, set to hit $2.5 trillion globally by late 2025, is a standout. Saudi exports of halal-certified goods—think ethical finance, green cosmetics, and specialty foods—jumped 25% in the first half of 2025, clinching $1.2 billion in deals across Asia and Europe. New certification standards, backed by blockchain for transparent supply chains, are breaking down barriers and appealing to eco-savvy consumers. The Makkah Halal Forum in 2026 will push this further, positioning Saudi Arabia to rival Malaysia as a global halal hub.

Privatization is another big win. The National Center for Privatization & PPP reported SAR 12 billion ($3.2 billion) raised in H1 2025 from selling off utility and airport assets, boosting the private sector’s GDP share to 52%—on pace for 65% by 2030. New tenders for schools pulled in $800 million, while healthcare (10 new specialty hospitals) and transport (upgrades at Riyadh and Jeddah airports) are expanding fast. These moves are expected to generate SAR 60 billion in non-oil revenue this year and create thousands of jobs, easing the budget deficit to 3.3% of GDP in 2026.

The Quality of Life Program is making waves too. Riyadh Season 2025 drew 20 million visitors, pumping $2.5 billion into tourism, while the Red Sea Project’s eco-resorts are gearing up for 1 million guests by 2027. On the digital front, the economy’s 14% GDP slice is growing, with AI-driven content tools aiming to push media exports to $50 billion by 2030. The council also backed GCC-wide policies to support people with disabilities and protect intellectual property, ensuring growth benefits everyone.

Why This Matters to the World

For anyone eyeing opportunities in the Middle East, Saudi Arabia is a goldmine. Renewable energy investors can tap into 50-year tax breaks, with solar power set to hit 60 gigawatts by 2030. Fintech and logistics players benefit from a $100 billion AI fund and fast-tracked visas via SAGIA. Tourism is booming, with goals of 100 million visitors yearly, fueled by events like Formula E and women’s sports leagues. Credit agencies like Moody’s (A1 stable) and Fitch (A+) back the Kingdom’s trajectory, even as oil’s share drops to 40% of GDP.

Challenges remain—oil price dips and the need for more skilled workers—but CEDA’s focus on keeping debt at 40.6% of GDP and training 1 million more apprentices by 2030 shows they’re on it. Economist Dr. Sara Al-Faisal sums it up: “Saudi Arabia isn’t just leveraging its resources; it’s building a future driven by its people.”

The Road to 2030 and Beyond

As Vision 2030 nears its final stretch, CEDA’s review is both a progress report and a call to action. With GDP growth projected at 4-5% yearly, unemployment dipping below 6%, and non-oil sectors targeting 70% of GDP, the Kingdom is on track for a $1 trillion diversified economy by 2030. Projects like NEOM’s 1.5-mile Line and halal fintech ventures are just the start. This is a nation inviting global partners to co-create a future where ambition meets opportunity.