Saudi Arabia’s financial ecosystem reached a remarkable milestone in 2024, with its total value surpassing $267 billion (equivalent to SAR 1 trillion).
This achievement reflects the Kingdom’s rapid progress in realizing the objectives of Vision 2030, particularly in building a robust, diversified, and globally competitive economy.
The growth is the result of a series of ambitious reforms and national initiatives aimed at enhancing the resilience of the financial sector, expanding financing options, and fostering innovation in financial technology (fintech).
These efforts have also empowered small and medium-sized enterprises (SMEs) and supported the entrepreneurial ecosystem.
Throughout 2024, the Kingdom witnessed a significant surge in domestic and foreign investment, driven by strong investor confidence and a business environment that has become increasingly dynamic due to wide-ranging regulatory updates.
The accelerated development of digital financial services and increased financial inclusion have further contributed to the digital transformation of the sector.
Government entities emphasized that this milestone marks a turning point in Saudi Arabia’s journey toward becoming a global financial hub.
The country has successfully enhanced market efficiency, improved transparency, and increased the availability of strategic sector funding.
National programs, such as low-interest financing and expanded digital banking services, have seen high adoption among entrepreneurs and startups, creating a vibrant, innovation-driven financial landscape.
The positive momentum is expected to continue in the coming years, backed by a strategic vision to raise the financial sector’s contribution to GDP and boost the Kingdom’s global competitiveness.
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