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Top 5 Booming Industries in Saudi Arabia to Lookout For
Saudi Arabia is competely different from what it was 10 years ago . The goverment is diversifying its economy beyong oil and there are many business and investment opportunities in Saudi Arabia .
With the Vision 2030 project of prince MBS of Saudi Arabia government is actively promoting new
TLDR
- Technology sector is booming , government has pushing for digital transformation and innovation , even most of the goverment services are streamlined through technology .
- Real Estate development is corner stone of economic growht in Saudi Arabia , with significatn opportunities in construction and infrastructure .
- Financial and professional services are in high demand to support the increasing number of new businesses .
- Healthcare and wellness present many opportunities ,with goverment investing heavily .
- Education is also a key focus area , with goverment promoting educational development
Technology Industries
About 2 days ago I read a news about a 3d printed masjid constructed in Saudi Arabia with 30% cost if it would have been created in traditional way .
Saudi government is giving a huge focus on innovative technologies and digital transformation . If you start using government website you will understand . Each website is beautiful and functional and you will get majority of government service through online .
I have friends who work in technology sector and their view is that there are so much opportunities in Saudi Arabia .
There is a surge in demand for innovative technologies and Saudi is committed to becoming a global hub for digital innovation .
As the country propels towards its 2030 goals, the IT landscape is witnessing a transformation, with new opportunities emerging in software development, artificial intelligence, and cybersecurity
Financial and Professional Services
As we see the growth in business , this also requires financial and professional service providers to support the compliance and other financial service . Major Big 4 has already opened their offices in Saudi Arabia and there is opportunities for new small players in this market .
In the next 5-10 years we can see a growth in no of small to medium sized business and they will require financial and other professional services to support them .
Health Care
Saudi Vision 2030 has placed a significant emphasis on the healthcare sector . The initiative aims to create a robust healthcare system that is both top quality and capable of meeting the growing needs of the population .
Health Tech and medical supplies is another industries which has a huge opportunity . With the goverment’s push for Healthcare and Tech ,this is a sweet spot .
Real Estate
You can see that Saudi is imitating the real estate strategy of United Arab Emirates , they are competing on construction of the world tallest building and investing in building new construction that make Saudi Stand apart .
NEOM (The Line Project ) – I have to say this project is out of the world and if it is like it is advertised this is going to be a brilliant project . It is like a huge construction in a line with all the facilities , with new technologies , flying cars and automated transport system. Man that is going to be wild .
If you visit Makkah you can see the 5 star, 7 start buildings like clock tower etc .
There is an opportunities for construction companies ,architect and investors alike
This is also to attract tourism like what Burj khalifa did for Dubai and create a name for the country in global landscape .
Tourism
Saudi government is pushing for tourism in recent years . You should understand Saudi in not just Desert , Saudi is a Big Country you can see all sort of landscape in Saudi .
Tabuk has greenery and hairpin , Jeddah is mostly deserts , Saudi has Sea ,
Hajj and Umra is another part of Tourism known as Religious Tourism , this is huge industry . If you can solve the problems of people coming for Hajj and Umra ,that is a huge huge opportunity .
There are many undiscovered gem in Saudi Arabia like Dammam Corniche , Half Moon Bay Beach , Al Marjan Island , Al Nakheel Beach , Al Fanateer Seafront , Abha , Asir National Park , Al Ahsa , Yellow Lake , Thaif , Uqair Beach etc
One notable tourist place is Wadi Lajab , you should search about it and visit it .
Conclusion
Saudi Arabia a growing country with lots of opportunities and government is trying to diversify to other industries other than oil. The 5 industries talked about in this article is from my research and talking to my friends who works here. Hope this article was helpful .