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Saudi Arabia’s Vision 2030: Recent Milestones and What’s Next

PublishedAugust 10, 2025

In 2016, Saudi Arabia launched Vision 2030 — a bold and ambitious national plan to diversify its economy, reduce its reliance on oil, and build a vibrant society for future generations.

Now, nearly a decade into the journey, the Kingdom has made significant progress in multiple sectors, from tourism to tech. In this blog, we’ll explore:

Key milestones achieved so far
Major projects currently underway
What’s next as we move closer to 2030

What is Vision 2030?

Vision 2030 is a long-term roadmap led by Crown Prince Mohammed bin Salman, focusing on:

Economic diversification
Private sector growth
Job creation
Tourism and cultural development
Innovation and sustainability

The plan is built around three main themes:

A Vibrant Society
A Thriving Economy
An Ambitious Nation

Recent Milestones (2016–2025)

1. Economic Diversification & Non-Oil Revenues

Non-oil revenues more than tripled since 2016, reaching over SAR 400 billion in 2023.
VAT (Value Added Tax) was introduced and increased to 15% in 2020.
The Kingdom has attracted billions in foreign direct investment (FDI) through reforms and regulatory changes.

2. Mega Projects in Progress

NEOM: A $500 billion futuristic smart city under construction in the northwest. Projects include:
- The Line: A linear smart city with zero cars and zero emissions
- Trojena: A mountain tourism destination
- Oxagon: A floating industrial city
Red Sea Project: A luxury tourism development along the western coast
Qiddiya: An entertainment city with theme parks, motorsports, and cultural venues

3. Tourism Transformation

Saudi Arabia opened its doors to international tourists for the first time in 2019 with a new e-visa system.
Target: 100 million visitors per year by 2030
Major events like Riyadh Season, Formula 1, and MDLBEAST Soundstorm are helping promote Saudi as a cultural hub.

4. Women Empowerment

Women’s participation in the workforce jumped from 19% in 2016 to over 35% in 2024.
Legal reforms now allow women to:
- Drive
- Start businesses without a male guardian
- Travel independently
Female entrepreneurship is on the rise across tech, fashion, and F&B sectors.

5. Green Initiatives

Saudi Green Initiative: Committed to planting 10 billion trees and reaching net-zero emissions by 2060.
Renewable energy projects like Sakaka Solar Plant and wind farms are expanding rapidly.

What’s Next? (2025–2030 Goals)

1. Boosting Private Sector Contribution

Aim to increase private sector’s share of GDP from 40% to 65%
Continued efforts to privatize government assets and services (e.g., water, healthcare, airports)

2. Innovation & Tech Leadership

Saudi aims to become a regional hub for AI, cloud computing, and digital transformation
Launch of Smart Government services, digital banks, and blockchain-based solutions
Partnerships with global tech companies (e.g., Alibaba Cloud, Huawei, Oracle)

3. Hospitality & Cultural Investment

Over 315,000 hotel rooms to be added by 2030
Expanding UNESCO heritage site access, cultural museums, and entertainment zones
Support for local art, film, and fashion industries

4. Labor Market Reform & Talent Development

Saudization policies to increase local employment
Training programs in partnership with international institutions
Massive investment in education, digital skills, and entrepreneurship

5. Strengthening Global Positioning

Hosting major international events:
- Expo 2030 (Riyadh)
- Asian Winter Games (Trojena, 2029)
- Bidding for the 2034 FIFA World Cup

Final Thoughts

Saudi Arabia’s Vision 2030 is not just a plan — it’s a transformation.

In less than a decade, the Kingdom has made progress once considered unthinkable:

From an oil-dependent economy to a diversified business environment
From strict societal norms to one of the most dynamic reform agendas in the region
From regional power to an emerging global player