Riyadh, April 25, 2024, Vision 2030 has been pivotal in establishing the Kingdom as a technological and innovative hub within the region. Strong leadership support has empowered the communications and information technology sector, leading to significant progress in digital development.
Since the inception of Vision 2030 eight years ago, the Kingdom has achieved notable milestones, gaining global recognition in digital entrepreneurship, digital infrastructure, digital government, and digital capabilities.
A World Economic Forum report ranked the Kingdom second globally among the Group of Twenty (G20) economies in digital competitiveness. Additionally, a World Bank report placed the Kingdom third globally in the digital government services maturity index. These accolades reflect the Kingdom's efforts to become a leader in supporting the digital economy's growth.
The digital economy's contribution to GDP has risen from 11% to 15%, with the technology and innovation market exceeding SAR 166 billion, making it the largest in the region. Venture capital investments have also surged to SAR 5.2 billion, marking a significant milestone.
The Kingdom's commitment to robust digital services is evident in its digital infrastructure advancements. Fourth-generation services now cover 99% of the Kingdom's regions, ensuring widespread access to high-speed internet. Data center capacity has reached 204 megawatts, providing ample storage for digital data.
The cloud-computing services market has grown substantially, surpassing SAR 9.8 billion, showcasing the Kingdom's readiness to embrace cloud-based technologies.
Vision 2030 has also contributed to developing digital capabilities within the Kingdom. With over 350,000 workers in the technical sector, including a nationalization rate of 64%, and increased participation of women in communications and information technology, reaching 35%, the Kingdom is on track to create a sustainable and prosperous digital economy.
These achievements underscore the Kingdom's dedication to fostering digital innovation, paving the way for a prosperous society and a sustainable future.
