The Arabian Peninsula has been a hydrocarbon energy distributor to the world, with economies relying on increasing demands and fluctuating energy prices. However, in the last two decades, countries in the region have realigned their efforts and diversified their economies to move away from oil dependence. While many smaller states established a lead on this initiative and demonstrated success, the Kingdom of Saudi Arabia (KSA) has purposely taken time to access and follow trends. With deep pockets, resources, established benchmarks and population dynamics, the Kingdom is transforming at lightning speed.
Saudi Arabia government has undertaken numerous initiatives across various industries to position itself as a business magnet. The government is making significant strides in manufacturing, tourism, education, healthcare, fintech and entertainment sectors through incentives, flexibility, and foreign investments. With a population of over 36 million, the country offers an ideal recipe for innovation, market testing, scalability, and diversification. In short, Saudi Arabia has all the right ingredients for a business to scale up and flourish.