Saudi Arabia Emerges as the Largest Digital Economy in MENA
Saudi Arabia has established itself as the largest digital economy in the Middle East and North Africa (MENA), valued at over SR495 billion, which accounts for 15% of the country’s gross domestic product (GDP).
This achievement aligns with the goals of Saudi Vision 2030 and was highlighted in a report coinciding with World Telecommunication and Information Society Day on May 17.
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Key Highlights
Market Growth
- The telecommunications and information technology market is projected to grow by more than SR180 billion in 2024, fueled by increased private sector investments and innovation.
- This growth reinforces Saudi Arabia’s status as the largest technology market in the Middle East.
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Knowledge-Based Economy
- The Kingdom is transitioning to a knowledge-based economy focused on innovation and investment in technology and human capital.
- Over SR55 billion has been invested in artificial intelligence (AI) technologies and data centers, positioning Saudi Arabia as a regional hub for future industries.
- The digital sector has generated over 381,000 quality jobs in technology.
Digital Governance Achievements
- Saudi Arabia ranks sixth globally in the E-Government Development Index and fourth in the Digital Services Index.
- Among G20 countries, it holds the second position and is first in the region.
- Key sub-indicator rankings:
- First globally in digital skills and open digital government.
- Seventh worldwide in the E-Participation Index.
These developments reflect a significant shift in Saudi Arabia’s economic landscape, showcasing its commitment to accelerating income diversification through a smart economy.
The Kingdom’s advancements in digital governance and technology further solidify its position as a regional and global digital powerhouse.
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