Introduction
Saudi Arabia’s Vision 2030, launched in 2016, set out to diversify the Kingdom’s economy and drive national transformation. Nine years later, the latest 2024 assessment reveals that 93 percent of key performance indicators (KPIs) have been fully or partially achieved. This blog explores the top seven achievements that highlight Saudi Arabia’s remarkable journey of change.
1. Exceptional KPI Success Rate
Of 374 Level-3 KPIs under Vision 2030, 299 were fully achieved, with 257 surpassing their original targets. An additional 49 indicators reached between 85 and 99 percent of their goals. This performance underscores the success of meticulous planning and strategic execution across national programs.
2. Massive Initiative Delivery
Saudi Arabia launched 1,502 initiatives under Vision 2030. As of 2024, 674 initiatives were completed, and 596 were advancing on schedule, reflecting an 85 percent on-track or completion rate. These initiatives span critical sectors like healthcare, housing, clean energy, digital innovation, and cultural development.
3. Economic Diversification and Private Sector Growth
The Kingdom’s non-oil GDP grew by 3.9 percent in 2024, fueled by robust investments in tourism, mining, technology, and logistics. The private sector’s contribution to GDP rose to 47 percent, exceeding the 46 percent target and showcasing success in reducing oil dependency.
4. Employment Milestones and Inflation Control
Saudi Arabia achieved a 7 percent unemployment rate for nationals by the end of 2024, six years ahead of its 2030 goal. Simultaneously, the inflation rate remained low at 1.7 percent, ranking among the lowest in the G20, reflecting effective economic policies that balance growth and stability.
5. Surging Investment and Global Confidence
Foreign direct investment (FDI) inflows reached SR77.6 billion ($20.7 billion) in 2024. The Public Investment Fund’s (PIF) assets under management grew to SR3.53 trillion, more than tripling since Vision 2030’s launch. The Kingdom also secured upward revisions from the IMF, OECD, and all major credit agencies.
6. Leading in Competitiveness and Digital Governance
Saudi Arabia advanced to 16th place globally in the IMD World Competitiveness Index and 6th place in the UN E-Government Development Index. These achievements reflect rapid digital transformation, improved public sector performance, and an increasingly favorable environment for innovation and investment.
7. Social Development and Environmental Stewardship
Significant social progress includes raising the homeownership rate to 65.4 percent, surpassing the year’s target. The Kingdom planted over 115 million trees as part of its environmental programs and rehabilitated 188,000 hectares of degraded land, signaling commitment to sustainable development goals.
Conclusion
Saudi Arabia’s Vision 2030 has achieved remarkable progress, driven by strong institutional frameworks, strategic execution, and ambitious national programs. With 93 percent of KPIs achieved or nearing completion, the Kingdom is firmly on track to meet its 2030 goals — and its focus now shifts to sustaining momentum well beyond. To learn more about sector-specific achievements, check out our Saudi Arabia Tourism Growth Analysis.
