Horizon Saudi Arabia

Saudi Arabia is at the heart of an unprecedented economic transformation in the Middle East. With Vision 2030, the Kingdom is accelerating its diversification to build a leading industrial and technological ecosystem.

Recent announcements from the Public Investment Fund (PIF) confirm this ambition, with strategic investments in AI, tourism, mobility and the
infrastructure. On the horizon, Expo 2030 in Riyadh and the 2034 World Cup will enhance the country's global appeal, catalyzing urban, tourism and digital projects.

These are all opportunities for French companies in engineering, energy transition, industry and services. A market undergoing rapid change, at the heart of regional and global ambitions.

Maël Mbaye – Regional Manager Middle East North Africa – Bpifrance

KEY FIGURES

• Population : 36 million inhabitants
• GPD : 1084 billion (in USD)
• 19ème world economic power
• Currency Saudi Riyal (SAR)
• Exchange rate regime Fixed rate pegged to the USD

COUNTRY RISKS

• Growth vulnerability : 73% of export revenues still come from oil, exposing the country to price fluctuations.
• External attractiveness : Despite reforms, FDI flows remain low (≈1,5% of GDP in 2025), far from the ambitious target of 5,7% set for 2030, which leads to a downward revision of ambitions for the implementation of certain projects.
• Geopolitical tensions Saudi Arabia is located in a geographical area exposed to geopolitical and security risks (attacks in the Red Sea in particular).
• complex energy transition The country's strong dependence on hydrocarbons and the delay in developing renewable energies (target of 50% solar by 2030 compared to almost 0% today) expose it to risks related to global decarbonization and climate pressures.

AREA OPPORTUNITIES

• Economic diversification The Saudi Vision 2030 plan aims to double non-oil GDP by 2030 by developing strategic sectors (tourism, technology, logistics, renewable energy) and increasing the share of the private sector to 65%.
• Financial solidity Foreign exchange reserves covering more than 14 months of imports, low public debt (≈30% of GDP) and sovereign wealth fund (PIF) assets of USD 925 billion give the Kingdom a high capacity to absorb external shocks and finance its strategic projects.
• Expanding tourism : The development of cultural and sports tourism, supported by global events (2029 Winter Olympics, Expo 2030, 2034 World Cup), stimulates non-hydrocarbon growth.
• Improvement of the business climate The country is undertaking numerous reforms to strengthen its regulatory framework (privatization law, authorization for foreigners to own 100% of the capital in certain sectors, etc.).

To discover the full content, check out our edition Horizon Saudi Arabia.