Saudi Arabia’s rapid transformation under Vision 2030 was the central theme at the first-ever Gulf Business Saudi Business and Investment Summit, held on September 3rd at the Sheraton Riyadh Hotel & Towers. The event brought together over 130 influential leaders from government, business, and international organizations to explore how the Kingdom is translating its bold vision into tangible results through innovation, regulatory reform, and public-private collaboration.
By the Numbers
The summit highlighted the staggering growth of key sectors in the Kingdom:
- $17.6 Billion: The economic impact generated by events from the organizer Tahaluf in just three years—a bigger contribution than the Qatar FIFA World Cup.
- 700,000 sqm: The projected footprint for Tahaluf’s events by the end of 2025, up from just 100,000 sqm in 2022.
- 100 Million Passengers: The number of passengers moved by the Riyadh Metro in less than nine months since its launch.
A Kingdom on the Move
The summit’s discussions painted a clear picture of a nation transforming at an extraordinary speed. “From mega-projects like the Riyadh Metro to the upcoming Expo 2030 and the 2034 FIFA World Cup, the Kingdom is transforming at an extraordinary speed,” said Gareth van Zyl, group editor of Gulf Business. “The Saudi story is growing, getting bigger and more exciting by the day”.
Keynote speaker Michael Champion, CEO of Tahaluf, revealed the massive growth in the Kingdom’s events sector, noting that over 100,000 international visitors will fly in for their events this year, “positioning Saudi Arabia as a serious global business hub”.
Progress, Priorities, and Emerging Opportunities
Panel discussions throughout the day explored how key sectors are advancing Vision 2030’s goals. Saud Adham, director of policy & innovation at the Ministry of Culture, emphasized the power of the nation’s youth, with over 70% of the population under 35, as a key driver of the economy. Other speakers highlighted the huge momentum in the education sector, the foundational importance of cybersecurity for giga-projects, and the soaring demand in tourism, which saw Saudi Arabia hit its 2030 target seven years early in 2023.
The International Perspective
The final panel explored what it takes for global companies to succeed in Saudi Arabia. Main Canaan, general manager at GE Aerospace Middle East, spoke on building local capabilities, noting that “more than half our workforce in the Kingdom are Saudis operating at world-class aviation standards”. Tarek Miknas, CEO of FP7McCann MENAT, emphasized the importance of authentic storytelling, stating, “Global strategies only work when they are built on genuine local voices and understanding”.
The summit concluded with high-level networking and the presentation of the inaugural Gamechanger Awards, recognizing leaders driving transformation across the Kingdom.
Source: Gulf Business
