Submitted By:Sayed Muhammmad Sohail

Submitted To:Porf, Ahmed Hamed Abdullah AL Farhan

Departement:Microbiology

Program:Environmental Sciences

Date of Submission:04/03/2024
ECCONOMIC VALUE OF ENVIRONMENT IN SAUDI ARABIA:

The economy of Saudi Arabia is the largest in the Middle East and the eighteenth-largest in the
world.[15] The Saudi economy is highly reliant on its petroleum sector. Oil accounts on average in
recent years for approximately 40% of Saudi GDP and 75% of fiscal revenue, with substantial
fluctuations depending on oil prices each year.[16]

The kingdom has the second-largest proven petroleum reserves,[17]and the fourth-
largest measured natural gas reserves.[18] Saudi Arabia is currently the largest exporter of
petroleum in the world.[19] Other major parts of the economy include refining and chemical
manufacturing from the oil reserves, much of which is vertically integrated in the state-owned
enterprise, Saudi Aramco. Saudi Arabia is permanent and founding member of OPEC

In 2016, the Saudi government launched its Saudi Vision 2030program to reduce its dependency
on oil and diversify its economic resources.[20] By 2022, Saudi Arabia had only modestly reduced
its dependence on oil.[16]

Monetary policy in Saudi Arabia is anchored by the fixed exchange rateof the Saudi Riyal to the
U.S. Dollar.[21]

Saudi oil reserves are the second largest in the world (after Brazilian–Venezuelan oil reserves),
and Saudi Arabia is the world's leading oil exporter and second-largest oil producer. Proven
reserves, according to figures provided by the Saudi government, are estimated to be 260 billion
barrels (41 km3), which is about one-quarter of the world oil reserves. Petroleum in Saudi Arabia
is not only plentiful but also located under pressure close to the earth's surface, which makes it
less expensive and more profitable to extract compared to other places.[24] The petroleum sector
accounts for roughly 87% of Saudi budget revenues, 90% of export earnings, and 42% of GDP.
[25]
Saudi Arabia's oil reserves and production are largely managed by the state-owned
corporation Saudi Aramco.[26]

Another 40% of the GDP comes from the private sector. An estimated 7.5 (2013)
million foreigners work legally in Saudi Arabia[27] and play a crucial role in developing the Saudi
economy, for example in the oil and service sectors. The government has been encouraging the
growth of the private sector for many years to decrease the kingdom's dependence on oil and to
increase employment opportunities for the swelling Saudi population. In recent decades, the
government started allowing private sector activity and foreign investor participation in certain
sectors, such as power generation and telecommunications, and acceded to the World Trade
Organization. During much of the 2000s, high oil prices[28] allowed the government to
post budget surpluses and boost spending on job training and
education, infrastructure development, and government salaries.

With its absolute monarchy, large state sector, and supply of welfare benefits, the Saudi
economy has been described asː
A bewildering (at least to outsiders) combination of a feudal fealty system and a more modern
political patronage one. At every level in every sphere of activity, Saudis maneuver through life
manipulating individual privileges, favours, obligations, and connections. By the same token, the
government bureaucracy is a maze of overlapping or conflicting power centers under the
patronage of various royal princes with their own priorities and agendas to pursue and
dependents to satisfy.[29]
HISTORY:

Saudi Arabia was a subsistence economy until the 1930s. In 1933, the Saudi government signed
an oil concession agreement with the Standard Oil Company of California;[30] five years
later, commercial volumes of oil were discovered in the kingdom.[31][32] The development of oil
fields continued in Saudi Arabia, managed mainly by Arabian American Oil
Company (Aramco), a company formed by the partnership of Texaco and Chevron.[33] In 1951,
the first offshore field in the Middle East was established by Aramco at Raʾs Al-Saffāniyyah
area.[34] By 1949, Saudi oil production reached 500,000 barrels per day (bpd) and rose rapidly to
1 million bpd in 1954.[35][36] Moreover, in 1951, Aramco started operating the Trans-Arabian
Pipelinethat moved oil from the eastern region of Saudi Arabia to the Mediterranean Sea through
Jordan, Syria, and Lebanon. However, in 1981, this line was no longer used after a new line
began operations that linked Jubail on the Persian Gulf and Yanbuon the Red Sea. The new pipe
contributed greatly to speed up oil transport.[34] In 1960, OPEC was established, with Saudi
Arabia as one of its founding members.[37]During the 1973 oil crisis, the price of oil rose from $3
per barrel to nearly $12, and the Saudi economy started growing rapidly,[38] with GDP increasing
from approximately $15 billion in 1973 to almost $184 billion by 1981.[39] After gradually
purchasing Aramco assets, the Saudi government nationalized the company in 1980. In
1988, Saudi Aramco was established to take over the responsibilities of Aramco.[40]
In 1980, the price of oil peaked, and demand started decreasing as a result of recessions in
industrialized nations and more efficient oil use, which produced surpluses.[41] This created
a worldwide oil glut, with the price of oil dropping from approximately $36 per barrel in 1980 to
approximately $14 by 1986.[42] Saudi oil production, which had increased to almost 10 million
barrels (1,600,000 m3) per day during 1980–81, fell 80% to about 2 million barrels per day
(320,000 m3/d) in 1985.[43] Budgetary deficits developed, and the government drew down its
foreign assets.[44] As a result of the oil glut and the pressure from declines in production, after
1985 Saudi Arabia started enforcing production quotas more harshly for the OPEC members.[45]

In June 1993, Saudi Aramco absorbed the state marketing and refining company (SAMAREC),
becoming the world's largest fully integrated oil company. Most Saudi oil is exported by tankers
from oil terminals at Ras Tanura and Ju'aymah in the Persian Gulf. The remaining oil for export
is transported via the east–west pipeline across the kingdom to the Red Sea port of Yanbu. A
major new gas initiative was supposed to attract significant investments from the American and
European oil companies to develop non-associated gas fields in three separate parts of Saudi
Arabia. Following final technical agreements with concession awardees in December 2001,
development was expected to begin in 2002

In the 1990s, Saudi Arabia experienced a significant contraction of oil revenues combined with a
high rate of population growth. Per capita income fell from a high of $11,700 at the height of the
oil boom in 1981 to $6,300 in 1998.[46] Taking into account the impact of the real oil price
changes on the kingdom's real gross domestic income, the real command-basis GDP was
computed to be 330.381 billion 1999 USD in 2010.[47] Increases in oil prices in the early
2000s helped boost per capita GDP to $17000 in 2007 dollars (about $7,400 adjusted for
inflation),[48] but have declined since oil price drop in mid-2014.[49]

However, beginning in late 1997, Saudi Arabia again faced the challenge of low oil prices.
Because of a combination of factors—the East Asian economic crises, a warm winter in the West
caused by El Niño, and an increase in non-OPEC oil production—demand for oil decreased and
pulled oil prices down by more than one-third.[50]

Saudi Arabia was a key player in coordinating the successful 1999 campaign of OPEC and other
oil-producing countries to raise the oil price to its highest level since the (Persian) Gulf War by
managing petroleum supply and production. That same year, Saudi Arabia established
the Supreme Economic Council to formulate and better coordinate economic development
policies to accelerate institutional and industrial reforms.[51]

Saudi Arabia joined the World Trade Organization (WTO) in 2005 after many years of
negotiations.
Foreign investment:

Before 2000, there were strict limits placed on foreign direct investment in Saudi Arabia. The
1979 Foreign Investment Act prohibited foreign ownership in some sectors of the economy,
allowed foreign investment only if the investor qualified for a license based on their expertise,
and gave priority to businesses that were Saudi-owned or partially Saudi-owned.[52]

However, in the mid-1990s, foreign ownership rules were relaxed, with investment sought in
telecommunications, utilities, and financial services.[53] The 2000 Foreign Direct Investment Act
made substantial changes to the rules on foreign investment, including allowing projects to be
run by 100% foreign-owned companies for the first time.[52]

Since 2008, extensive Saudi land investment has taken place, especially in Africa. For more, see
the section on the Non-petroleum sector.

According to UNCTAD's June 2018 report, Saudi Arabia's foreign direct investment was only
$1.4 billion in 2017, down from $7.5 billion the year before and as much as $12.2 billion in
2012. The fall in investment is attributed to negative intra-company loans by foreign
multinationals and various divestments.[54] In the first quarter of 2018, net capital outflows were
running at approximately 5% of GDP, compared to less than 2% of GDP in late 2016.
[55]
However, according to a report published in Trading Economics, in the second quarter of
2018, foreign direct investment in the country raised by $882 million.[56] Moreover, SAGIA's
data indicate that licenses provided to foreign investment increased by 130% in the first quarter
of 2018 as a result of reforms in the economy.[57]

As Saudi oil income declined in the late 2010s, the kingdom's international debt soared. In
December 2018, Saudi Arabia announced it would be issuing bonds worth approximately
120 billion riyals ($32 billion) to cover its 4.2% GDP deficit of 131 billion riyals.[58] In January
2019, the kingdom sold bonds worth $7.5 billion.[59] In almost two and a half years, bonds worth
$60 billion were sold by Saudi, which became one of the biggest borrowers globally.[60]
In September 2018, the Public Investment Fund completed a deal with a group of global lenders
for a loan of $11 billion.[61]The deal raised more than initially planned and was the first time the
PIF had incorporated loans and debt instruments into its funding.[62] According to data from Fitch
Ratings, over two years starting from May 2016 Saudi Arabia went from having zero debt to
raising $68 billion in dollar-denominated bonds and syndicated loans—one of the fastest rates
among emerging economies.[63]

Foreign investments in the kingdom witnessed a rapid increase in the first quarter of 2019. The
number of new licenses approved for foreign businesses grew 70% over 2018. Most licenses
were approved for British and Chinese companies, which drove the increase.[64] In the first
quarter of 2019, foreign investment in Saudi Arabia jumped by 28%.[65]
Diversification and the development plans:

The government has sought to allocate its petroleum income to transform its relatively
undeveloped, oil-based economy into a modern industrial state, while maintaining the kingdom's
traditional Islamic values and customs. Although economic planners have not achieved all their
goals, the economy has progressed rapidly. Oil wealth has increased the standard of living of
most Saudis. However, significant population growth has strained the government's ability to
finance further improvements in the country's standard of living. Heavy dependence on
petroleum revenue continues, but industry and agriculture now account for a larger share of
economic activity. The mismatch between the job skills of Saudi graduates and the needs of the
private job market at all levels remains the principal obstacle to economic diversification and
development; about 4.6 million non-Saudis are employed in the economy.[66]

Saudi Arabia first began to diversify its economy to reduce dependency on oil in the 1970s as
part of its first five-year development plan. Basic petrochemical industries using petroleum
byproducts as feedstock were developed.[67] The fishing villages of al-Jubail on the Persian
Gulf and Yanbu on the Red Sea were developed. However, their effect on Saudi Arabia's
economic fortunes has been small.[68]

Saudi Arabia's first two development plans, covering the 1970s, emphasized infrastructure. The
results were impressive—the total length of paved highways tripled, power generation increased
by a factor of 28, and the capacity of the seaports grew by a factor of 10. For the third plan
(1980–85), the emphasis changed. Spending on infrastructure declined, shifting instead to
education, health, and social services. The share for diversifying and expanding productive
sectors of the economy (primary industry) did not rise as planned, but the two industrial cities
of Jubail and Yanbu—which were built around the use of the country's oil and gas to produce
steel, petrochemicals, fertilizer, and refined oil products—were largely completed.[66]

In the fourth plan (1985–90), the country's basic infrastructure was viewed as largely complete,
but education and training remained areas of concern. Private enterprise was encouraged, and
foreign investment in the form of joint ventures with Saudi public and private companies was
welcomed. The private sector became more important, rising to 70% of non-oil GDP by 1987.
While still concentrated in trade and commerce, private investment increased in industry,
agriculture, banking, and construction companies. These private investments were supported by
generous government financing and incentive programs. The objective was for the private sector
to have 70% to 90% ownership in most joint venture enterprises.[66]

The fifth plan (1990–95) emphasized consolidation of the country's defences; improved and
more efficient government social services; regional development; and, most importantly, creating
greater private-sector employment opportunities for Saudis by reducing the number of foreign
workers.[66]

The sixth plan (1996–2000) focused on lowering the cost of government services without cutting
them and sought to expand educational training programs. The plan called for reducing the
kingdom's dependence on the petroleum sector by diversifying economic activity, particularly in
the private sector, with special emphasis on industry and agriculture. It also continued the effort
to "Saudize" the labour force.[66]

The seventh plan (2000–2004) focused more on economic diversification and a greater role of
the private sector in the Saudi economy. For 2000–04, the government aimed at an average GDP
growth rate of 3.16% each year, with projected growths of 5.04% for the private sector and
4.01% for the non-oil sector. The government also set a target of creating 817,300 new jobs for
Saudi nationals.[66] By 2007, advertising expenditures had reached new peaks due to emphasis on
value-added manufacturing.[69]

In 2016, the main investing countries in Saudi Arabia were the US, UAE, France, Singapore,
Kuwait, and Malaysia. They mainly invested in chemical industry, real estate, tourism, fossil
fuels, automobiles, and machinery.[70] As part of its diversification, Saudi Arabia arranged major
refinery contracts with Chinese and other companies.[71]

After Saudi Arabia became a member of the World Trade Organization (WTO) in 2005, the
overall foreign investment environment in Saudi Arabia improved thanks to the kingdom's stable
economy, massive oil reserves, high power of expenditure, developed infrastructure, reinforced
finance, and banking system. Since then, and pursuant to its commitment to the WTO, Saudi
Arabia has been developing trade-related policies and legislations. Moreover, foreign investment
has been highly encouraged by Saudi Vision 2030 and its economic diversification.[70]

Since 2017, to boost the economy and decrease the country's dependency on oil, Crown
Prince Mohammed bin Salman has introduced multiple changes, such as raising the prices of
gasoline and electricity, levying new taxes, and prioritizing Saudi workers over foreign workers.
However, some government officials claimed the policies were causing serious ill effects on the
economy. Saudi businessmen reported a decline in sales for 2018, and a few blamed the
government.[72]

In 2019, the Financial Times reported that the plans to float state-owned oil beneficiary Saudi
Aramco were stranded between the company's attachment to the oil ministry and the desire to
meet international standards. However, Energy Minister Khalid Al Falih has long maintained
that Aramco's association with the state is a "win-win policy" for both parties.[73]

Future:

Saudi Arabia has announced plans to invest about $47 billion in three of the world's largest and
most ambitious petrochemical projects. These include the $27 billion Ras Tanura integrated
refinery and petrochemical project, the $9 billion Saudi Kayan[74] petrochemical complex
at Jubail Industrial City, and the $10 billion Petro Rabigh refinery upgrade project. Together, the
three projects will employ more than 150,000 technicians and engineers.[75] Upon completion in
2015–16, the Ras Tanura project would become the world's largest petrochemical facility of its
kind with a combined production capacity of 11 million tons per year of different petrochemical
and chemical products.[needs update?] The products will
include ethylene, propylene, aromatics, polyethylene, ethylene oxide, chlorine derivatives,
and glycol.[75]
Saudi Arabia made plans to launch six "economic cities" (e.g., King Abdullah Economic City) in
an effort to diversify the economy and provide jobs.[76] At a total construction cost of $60 billion
(2013), they were "expected to contribute $150bn to the economy".[77] [78] However, these cities
have failed to attract either the population or the financial investment that the government
claimed they would.[79]

The privatization program Saudi Vision 2030 is running behind schedule. Oil prices have
doubled since the government began to consider the program in 2015. Delay in Aramco's initial
public offering further demonstrated a lack of urgency to privatize, even though in July 2018,
the International Monetary Fund urged accelerating the process.[80]

As Vision 2030 has been recently adopted by the Saudi government, several reforms[which?] have
been undertaken, including in business environments and the financial sector. Moreover, the
government has been seeking to achieve greater transparency by issuing a draft law regarding the
involvement of the private sector. Other reforms have been passed to increase manpower in the
private sector.[81]

According to many reports, the Saudi government is interested in granting more liberties to the
foreign investment system and giving a 100% allowance to foreign investors to work in the
wholesale and retail sector in certain cases.[70]

The Saudi Ministry of Commerce and Investment expected that the kingdom would see an
increase in the GDP per capita from US$20,700 to $33,500 by 2020.[82] However, the GDP per
capita by 2020 had stagnated at $US20,000.[83]

EMPOLYMENT:

As of 2008, roughly two-thirds of workers employed in Saudi Arabia were foreigners, and in the
private sector the proportion was approximately 90%.[84] In January 2014, the Saudi government
claimed it had lowered the 90% rate, doubling the number of Saudi citizens working in the
private sector to 1.5 million (compared to 10 million foreign expatriates working in the
kingdom).[85]

According to Reuters, economists "estimate only 30–40 percent of working-age Saudis hold jobs
or actively seek work", although the official unemployment rate is only around 12 percent. Most
Saudis with jobs are employed by the government, but the International Monetary Fund has
warned that the government cannot support such a large payroll in the long term.[85][86] The
government has announced a succession of plans since 2000 to deal with the imbalance by
"Saudization" of the economy, but the foreign workforce and unemployment has continued to
grow.[87] Since the beginning of 2017, however, Saudi Arabia has seen record numbers of foreign
workers leaving the country as the Saudi government imposed higher fees on expatriate workers,
with more than 677,000 foreigners leaving the kingdom. This has done little to lower the
unemployment rate, which rose to 12.9 percent, the highest on record.[88]

Each year, about a quarter-million young Saudis enter the job market. With the first phase of
Saudization into effect, 70% of sales jobs are expected to be filled by Saudis. However, the
private sector still remains hugely dominated by foreigners. The rate of local unemployment is
12.9%, its highest in more than a decade.[62] According to a report published by Bloomberg
Economics in 2018, the government needs to produce 700000 jobs by 2020 to meet its 9%
unemployment target.[62]

One obstacle is social resistance to certain types of employment. Jobs in service and sales are
considered totally unacceptable for citizens of Saudi Arabia—both to potential employees and
customers.[89]

NON-PETROLUM RESOURCES SECTOR:

Saudi Arabia has natural resources other than oil, including small mineral deposits of gold,
silver, iron, copper, zinc, manganese, tungsten, lead, sulfur, phosphate, soapstone, and feldspar.
[68]
The country has a small agricultural sector, primarily in the southwest where annual rainfall
averages 400 mm (16 in). The country is one of the world's largest producers of dates. Prior to
2009, wheat was grown using desalinated water for irrigation,[68] but was phased out by 2016 due
to costly water usage.[90] As of 2009, the livestock population amounted to 7.4 million sheep,
4.2 million goats, half a million camels, and a quarter of a million cattle.[68]

Although the jobs created by the roughly two million annual Hajj pilgrims do not last long, they
employ more people than the oil industry—40,000 temporary jobs (butchers, barbers, coach
drivers, etc.)—and generates US$2–3 billion in revenue.[91]

In 2008, the "Initiative for Saudi Agricultural Investment Abroad" was launched, leading to
extensive billion-dollar purchases of large tracts of land around the world, including
in Ethiopia, Indonesia, Mali, Senegal, and Sudan. Described as land-grabbing by critics, in
various instances these purchases have also led to uproars in the respective countries. Competing
industrializing nations with food security problems seeking agricultural land include
China, South Korea, and India, as well as the Persian Gulf States of Kuwait, Qatar, and the UAE.
[92][93][94][95][96]

In 2016, Mohammad bin Salman announced Saudi Vision 2030, a plan to reduce Saudi Arabia's
dependence on oil, diversify its economy, and develop public service sectors such
as health, education, infrastructure, recreation, and tourism.
REAL ESTATE:
One of the fastest growing sectors in the country is real estate, supported by the introduction
of real estate investment trusts (REITs). Despite significant growth in the number of REITs,[97]
[98]
the sector has yet to achieve its full potential due to shortages in both residential and
commercial real estate.

In 2016, the value of real estate transactions including sales of existing units amounted to
$74.91 billion from 15 October to 16 September.[99] This is a major drop compared to the number
of transactions recorded a decade earlier, which reached $239.93 billion. The real estate sector
has been driven recently by strong local demand fundamentals and only a small amount of
speculation.

Ownership of land property in Saudi Arabia is generally restricted to Saudis, but this is subject to
certain qualifications. For example, Gulf Cooperation Council (GCC) nationals and GCC
companies have certain rights to own land, subject to a number of restrictions.[100] Foreigners
(being non-GCC nationals) are entitled to ownership and investment in real estate with some
conditions. A foreign company needs to have a foreign investment license from the Saudi
Arabian General Investment Authority (SAGIA) and the owned real estate must be related to a
particular investment project for property development.[101]A foreign individual needs to have
normal legal residency status and a permit from the Ministry of the Interior to own land or
property.[101]

The major expansion in this sector attracted the top real estate consultancies—such as Jones
Lang LaSalle,[102] Knight Frank,[103] and Cluttons[104]—who have now opened offices in the
country. Beyond this, demand for professional real estate services is attracting regional educators
such as DREI to provide courses on Saudi real estate, and even dedicated books focused on the
market, such as Saudi Real Estate Companion.

Real estate plays an important role in the Saudi Vision 2030, which maps out significant
commitments by the Saudi government relating to housing and the development of land for a
variety of uses. In particular, Vision 2030 states: "Where it exists in strategic locations, we will
also capitalize on the government's reserves of real estate. We will allocate prime areas within
cities for educational institutions, retail, and entertainment centers, large areas along our coasts
will be dedicated to tourist projects and appropriate lands will be allocated for industrial
projects."[105]

In 2016, new rules were introduced by the Capital Market Authority to form REITs. This aimed
at opening the real estate market to a wide range of investors.[100][98] The REITs consist of units
representing the ownership of the underlying real estate. These units are offered to the public and
traded on the Saudi Stock Exchange.[100][106]

The introduction of REITs was a part of the National Transformation program, one of Saudi
Arabia's Vision 2030 programs, and has targets of:

 Increasing the real estate sector contribution from GDP of five percent to 10 percent
annually.[100]
 Supporting the construction of 1.5 million homes by providing the required private
capital.[100]
 Establishing partnerships with private sector developers to develop government land
for housing projects.
 Establishing fast-track licenses and special finance packages to encourage private
sector investment in housing projects.

In 2019, the Saudi government introduced the Premium Residency scheme, which allows
wealthy investors of any nationality to purchase residency and buy and sell real estate.[107]
AUTOMOTIVE:

In 2010, the KSU Gazal-1, an SUV built by students at King Saud University, became the first
mass-produced vehicle manufactured domestically in Saudi Arabia.[108]
In 2022, the US car company Lucid Motors announced plans to build an electric
vehicle manufacturing plant in Jeddah.[109] Construction began in May 2022, and the plant will
have capacity for 150,000 vehicles.[110]

Toyota is the leading brand in Saudi Arabia, accounting for 30% of car sales in the country; they
are followed by Kia and Hyundai who together make up 26%, and Renault/Nissan/Mitsubishi at
9%. The American Big Three auto makers (Ford, GM, and Chrysler) comprise the remainder.
[111]
As for the quantity of vehicle units sold, in the first half of 2023, Toyota had the highest in
the country with 112,584 and the second-most was the Hyundai badge with 47,218.[112]
PRIVATE SECTOR:

Saudi Arabia's private sector is dominated by a handful of big businesses in the service sector,
primarily in construction and real estate, such as Olayan, Zamil, Almarai, Mobily, STC, SABIC,
Sadara, Halliburton, Baker Hughes, Flynas, Hilton, Zain, Yanbu Cement, Alhokair, MBC,
Mahfouz, Al Rajhi, and Alfanar. These firms are "heavily dependent on government spending",
which is dependent on oil revenues.[113]

From 2003 to 2013, "several key services" were privatized—municipal water supply,
electricity, telecommunications—and parts of education and health care, traffic control, and car
accident reporting were also privatized. According to Arab News columnist Abdel Aziz
Aluwaisheg, "in almost every one of these areas, consumers have raised serious concerns about
the performance of these privatized entities."[114]

A relatively small sector until a boom in the 1980s,[115] the food service industry in Saudi Arabia
today is valued at around $13 billion.[116]

To provide the best support for the private sector and entrepreneurs, the kingdom announced a
decision approved by the Saudi Cabinet in July 2019 allowing businesses in the country to be
given the option to remain open 24 hours a day.[117] As of 2023, the average monthly salary for
Saudis working in the private sector is SR9600, up 45% from SR6600 in the year 2018.[118]
REGIONAL GDP:
Data are for the year 2022. Data calculated by dividing total GDP with provided percentage.[119]
[120]
 GDP (billion Percentage
Ranking Province
$US) of total GDP

1 Eastern 243.793 22%

2 Riyadh 243.793 22%

3 Mecca 144.059 13%

4 Rest of provinces 476.504 43%

5 Saudi Arabia 1,108.149 100%

TRADE:

In April 2000, the government established the Saudi Arabian General Investment Authority to
encourage foreign direct investment in Saudi Arabia. Saudi Arabia maintains a negative list of
sectors in which foreign investment is prohibited, but the government planned to open some
closed sectors such as telecommunications, insurance, and power transmission/distribution over
time.[121]

Saudi Arabia became a full World Trade Organization (WTO) member on 11 December 2005.
[122]
In 2019, the government established the General Authority for Foreign Trade to enhance the
kingdom's international commercial and investment activities.[123]

In early July 2020, Saudi Arabia announced the nomination of its former Minister of Economy
and Saudi royal court adviser, Mohammad Al-Tuwaijri, for the role of WTO's director-general.
[124]
The nominations were made public about a month after the WTO reported the kingdom for
copyrights infringement following distribution of pirated sports broadcasting content on the
state-owned broadcast service, BeoutQ.[125] The nomination of al-Tuwaijri received criticism
from human rights groups in mid-August 2020, demanding the rejection of the Saudi nominee
due to the kingdom's violation of human rights in addition to his silence over it.[126] On 7 October
2020, Al-Tuwaijri, along with other nominees from the UK and Kenya, lost the bid for the role
due to lack of support, as compared to the nominees from Nigeria and South Korea who
qualified for the final round of selection.[127]

Saudi Arabia is part of the following trade organizations:

 World Trade Organization (WTO)[122]

 International Monetary Fund (IMF)[128]
 International Chamber of Commerce (ICC)[129]
 International Organization for Standardization (ISO)[130]
 World Customs Organization (WCO)[131]
CHALANGES:
Among the challenges to the Saudi economy include halting or reversing the decline in per capita
income, improving education to prepare youth for the workforce and providing them with
employment, diversifying the economy, stimulating the private sector and housing construction,
and diminishing corruption and inequality. In answer to the question of why the Saudi economy
is so dependent on foreign labor, the UN Arab Human Development Report blamed stunted
social and economic development inhibited by lack of personal freedom, poor education,
government hiring based on factors other than merit, and the exclusion of women.[132]
INCOME DROP:
Despite possessing the second largest petroleum reserves in the world, per capita income
dropped from approximately $18,000 at the height of the oil boom (1981) to $7,000 in 2001,
according to one estimate.[133] As of 2013, due to the rapid population growth of Saudi
Arabia,[134] per capita income in Saudi was "a fraction of that of smaller Persian gulf
neighbors", even less than petroleum-poor Bahrain.[135]

Unlike most developed countries, where GDP growth is a function of increases in productivity
and inputs such as employment, in Saudi Arabia the fluctuation of oil prices is the most
important factor in the growth or decline of domestic production. "Saudi reserves are steadily
being depleted, and no significant new discoveries have been found to replace them," according
to Middle East journalist Karen House.[as of?] Saudi population grew sevenfold from 1960 to 2010,
[136]
and petrol prices are subsidized and cost users less than equivalent quantities of bottled
water.[137] With production stagnant, growth in population and domestic energy consumption
means a decline in per capita income unless oil prices rise to match that growth.[135]

DEMOGRAPHICS:

The Saudi population is young. About 51% of the total population are under the age of 25 (as of
February 2012).[138]According to a 2013 report by the International Monetary Fund, up to
1.6 million young nationals of the Persian Gulf countries(of which Saudi Arabia is the largest)
will enter the workforce from 2013 to 2018, but the economies of those countries will have jobs
in the private sector for less than half (approximately 600,000).[139]
EDUCATION:

According to The Economist, the Saudi government has attempted in past years to raise
employment by forcing "companies to fill at least 30% of their positions" with Saudi citizens.
However, "employers complained bitterly about the lack of skills among young locals; years of
rote-learning and religious instruction fail to prepare them for the job market." However, many
argue that young Saudis couldn't compete with foreigners due to the low compensation and
salaries most companies had used to offer for employees from Asian, Indian subcontinent, and
other Arab poor countries, which this cheap labor happily accepts; in addition to the bad work
conditions, culture, and environment present in most of the Saudi private sector, largely due to
the fact that it was initially modeled to accommodate very-low-income employees from other
nations, not the Saudi medium-income and somewhat highly educated population. As a
consequence, "the quota has now been dropped and replaced with a more flexible system".[140]

According to scholar David Commins, the kingdom depends "on huge numbers of expatriate
workers to fill technical and administrative positions" in part because of an educational system
that, despite "generous budgets", has suffered from "poorly trained teachers, low retention rates,
lack of rigorous standards, weak scientific and technical instruction and excessive attention to
religious subjects".[141][142][143]
A 2015 survey conducted by Bayt.com showed that over a quarter (28%) of professionals in
North Africa and the Middle East believe that there is a skills shortage in their country of
residence. This belief was even more prominent among respondents in Saudi Arabia (39%).[144]
INNOVATION:

Saudi has not been a hotbed of technological innovation. The number of Saudi patents registered
in the United States between 1977 and 2010 came to 382—less than twelve per year—compared
to 84,840 patents for South Korea or 20,620 for Israel during that period.[145][146] However, in
2017 Saudi Arabia was granted 664 patents by the United States Patent and Trademark Office,
ranking 23rd among 92 countries.[147][148] The number of granted patents was double that of all
Arab countries combined during the same period.[149] Saudi Arabia hopes to increase
technological innovation, particularly with the King Abdullah University of Science and
Technology, and thus to stimulate the economy.[citation needed]
BUREAUCRACY:

Business journalist Karen House criticized the Saudi bureaucracy, explaining that someone
seeking to start a business in Saudi Arabia:
has to complete innumerable applications and documents at multiple layers of multiple
ministries, which invariably requires seeking favours from various patronage networks and
accumulating obligations along the way, most probably including having to hire less-than-
competent dependents of his patrons. Then, for any business of any size, government contracts,
not private competition, are the financial lifeblood. So this means more patrons, more favours,
and more obligations. Not surprisingly, Saudi businesses that can compete outside the protected
Saudi market are few.[150]
CORROUPTION:

The cost of maintaining the Royal Family is estimated by some to be about US$10 billion per
year.[68]

A 2005 survey by the Riyadh Chamber of Commerce found that 77% of businessmen polled felt
they had to 'bypass' the law to conduct their operations. By 2012, "businessmen say it has only
gotten worse".[151]
Saudi Arabia has been severely criticized for failing to tackle money laundering and international
terrorism financing. A report released by the Financial Action Task Force on 24 September 2018,
says, "Saudi Arabia is not effectively investigating and prosecuting individuals involved in larger
scale or professional [money laundering] activity" and is "not effectively confiscating the
proceeds of crime".[152]
POVERTY:

Estimates of the number of Saudis below the poverty line range from between 12.7%[153] and
25%.[154] Press reports and private estimates as of 2013 "suggest that between 2 million and 4
million" of the country's native Saudis live on "less than about $530 a month" – about $17 a day
– considered the poverty line in Saudi Arabia.[154][155]

The Saudi state discourages calling attention to or complaining about poverty. In December
2011, days after the Arab Springuprisings, the Saudi interior ministry detained reporter Feros
Boqna and two colleagues (Hussam al-Drewesh and Khaled al-Rasheed) and held them for
almost two weeks for questioning after they uploaded a 10-minute video on the topic (Mal3ob
3alena, or 'We are being cheated') to YouTube.[156][157] Authors of the video claim that 22% of
Saudis are considered to be poor (2009) and 70% of Saudis do not own their houses.[158] Statistics
on the issue are not available through the UN resources because the Saudi government does not
issue poverty figures.[159] Observers researching the issue prefer to stay anonymous[160] because of
the risk of being arrested, like Feras Boqna.[157][161]
HOUSING:

50% of Saudi Arabia's citizens owned their own home in 2017, a rise from 30% in 2011 but
below the international average rate of 70%.[162] In 2011, analysts estimated 500,000 new homes
per year were needed to match the growth in Saudi population, but as of early 2014 only 300,000
to 400,000 houses per year were being built.[163]

One problem is that the government Real Estate Development Fund (REDF)—which provides
81% of all loans for housing—had an 18-year waiting list for loans due to pent-up demand.
Another is that the REDF's maximum loan is 500,000 SR ($133,000), while in 2012 the average
price for a small free-standing home in Riyadh is more than double that—1.23 million SR
($328,000).[164] However, as part of the economic reforms undertaken by the government to
enhance national living standards, new funding solutions have been established to boost the
mortgages for existing and new borrowers to help finance their housing plans. This was
announced in August 2018 by the Minister of Housing, Mr. Majed Al-Hogail.[165]

A major reason for the high cost of housing is the high cost of land. In urban areas, the price of
land has been bid up because nearly all of it is owned by the Saudi elite (members of the royal
family or other wealthy Saudis), who have lobbied the government for land "giveaways".
[163]
Landlords have seen prices rocket by 50% from 2011 to 2013.[163] The owners benefit from
these price increases as they hold the land for future development.[166][167] To deal with the key
"land banking" issue, the Minister of Housing suggested in 2013 that vacant property within city
limits could be subject to a tax. However, no firm plans for any tax have been unveiled.[163]
FURTHER DIVERSTIFICATION:

According to journalist Karen House, "every" Saudi five-year plan "since the first one in 1970"
has called for diversifying the economy beyond oil, but with marginal success.[168]

As of 2007, manufacturing outside of the petroleum industry contributed 10% to Saudi Arabian
GDP and less than 6% of total employment.[169]
PRIVATE SECTOR GROWTH:

In 2018, the imposition of a 5% value-added tax (VAT) brought private-sector growth to a

halt. Consumer spending was also restrained after a sharp increase in prices for energy,
electricity, and water earlier in 2018. The kingdom witnessed a mass departure of around
750,000 foreign workers after imposing new government levies on ex-pat workers. The
government is also forcing small-business owners to hire Saudi nationals at comparatively higher
wages than foreign workers. Gaining money from large, direct foreign investments is also not
working in favor of the government. Rich Saudis are reluctant to invest within the kingdom due
to the fear of triggering government scrutiny.[170]

On 11 May 2020, the government announced that it would triple the kingdom's VAT on goods
and services, raising it from 5% to 15%.[171] It also stated that the increase in VAT—introduced
due to the country's current financial crisis due to plummeting oil prices and impact
of coronavirus—would also be followed by a cut in monthly allowance for state workers worth
approximately $266, and financial benefits for contractors.[172] Aramco decreased the production
of its Arab Light grade of crude oil by a significant amount[by how much?] to be shipped to Asia. The
firm also cut down oil pricing for its US buyers following wavering demand for fuel due to the
global relapse of the coronavirus pandemic.[173]

According to the General Authority for Statistics, Saudi Arabia's inflation accelerated to 6.2% in
August 2020, as compared to the same month last year. The report states that the annual inflation
rate increased from only 0.5% (in June) to 6.1% (in July), before the increase of VAT to 15%
from 5% was introduced, effective from 1 July 2020.[174]

INVESTEMENT:

Saudi Arabia has two stock exchanges, the Tadawul and The Saudi Parallel Market (Nomu),
whose financial markets are regulated by the Capital Market Authority.[175][176] The stock market
capitalization of listed companies in Saudi Arabia is valued at $2.22 trillion. According to the
International Institute for Management Development, Saudi Arabia experienced the largest
improvement in business competitiveness of all countries in 2019; the kingdom rose 13 places to
26th in the world.[177]
DOING BUSSINESES:

Saudi Arabia is among the countries with the most notable improvement in doing business,
according to the World Bank Group's "Doing Business" 2020 report. The country jumped 30
places to rank 62nd in ease of doing business, compared to the previous year.[178][179]
[180]
Previously, the kingdom had been declining in the overall rankings, from 22nd in 2013[181] to
92nd in 2018.[182]

According to the World Bank in 2019, Saudi Arabia had conducted reforms in eight areas of
business: (1) starting a business, (2) getting construction permits, (3) getting electricity, (4)
getting credit, (5) protecting minority investors, (6) trading across borders, (7) enforcing
contracts, and (8) resolving insolvency.[179]

Saudi Arabian companies dominate 2009's "MEED 100", with companies listed on
the Tadawul accounting for 29 out of the region's 100 biggest publicly quoted companies ranked
by market capitalization. Just three of the 20 companies that have dropped out of the top 100
over the past year are listed on the Saudi stock exchange.[183]
Foreigners are allowed to wholly own limited liability companies in the majority of industries.
Non-Saudi nationals are required to obtain a foreign capital investment license from the Saudi
Arabian General Investment Authority.[184]

With a total of 291 foreign investor licenses issued in the second quarter of 2019, the kingdom
has witnessed an increase in international investment, reflecting the economic reforms under the
Saudi Vision 2030. Obtaining a foreign investor license became more straightforward as it
requires only two documents, and it is processed in three hours.[185]
CONTROVERSIES:

Sharmarke Gaani, a Somali businessman, travelled to Saudi Arabia on 25 January 2021 to spread
his home-health business in the country, which he had visited twice since 2017. On his arrival,
the New Albany businessman faced 3-day detention for no discernible reason. According to his
statements, the detention facility was cramped, cold, and didn't offer masks despite housing eight
other inmates during the COVID-19 pandemic. Gaani claimed that he suffered "mentally,
physically and emotionally" and just wanted "justice". His call to the United States consulate in
the country went unanswered. On the third day of his detention, Gaani was informed that he
could leave, without receiving any explanation or apology for the incident.[186]
COMPANIES:

Saudi Aramco (officially the Saudi Arabian Oil Co.) is Saudi Arabia's national oil, petroleum,
and natural gas companyheadquartered in Dhahran.[187][188][189] Saudi Aramco was listed for public
trading on 10 December 2019 and had a valuation as of US$2 trillion as of 12 December 2019.
Saudi Aramco has both the second largest proven crude oil reserves, which it claims to be more
than 260 billion barrels(4.1×1010 m3), and the largest daily oil production.[190] The company
operates the world's largest single hydrocarbon network, the Master Gas System. Its yearly
production is 3.479 billion barrels (553,100,000 m3),[191] and it manages over 100 oil and gas
fields in Saudi Arabia, including 284.8 trillion standard cubic feet (scf) of natural gas reserves.
[191]
Saudi Aramco owns the Ghawar Field, the world's largest oil field, and the Shaybah Field,
another one of the world's largest oil fields.[192]

On 16 November 2020, Saudi Aramco announced hiring banks to sell dollar-denominated bonds
with the aim of improving finances after the coronavirus pandemic caused a sharp fall in the
global demand for crude oil. Aramco's multi-tranche offer was set to run between 3 and 50 years,
depending on the market conditions. The banks hired for the transaction included Citi Bank,
Goldman Sachs International, HSBC, JP Morgan, Morgan Stanley and NCB Capital.[193] Other
banks involved in the deal included BNP Paribas, BOC International, BofA Securities, Credit
Agricole, First Abu Dhabi Bank, Mizuho, MUFG, SMBC Nikko and Societe Generale.[194]

In 2021, Saudi Aramco made a net-income of 95.5 billion riyals ($25.5 billion) in the second
quarter alone, which was the highest level since 2018.[195]

SABIC:

The Saudi Arabian Basic Industries Corporation (SABIC was established by a royal decree in
1976 to produce chemicals, polymers, and fertilizers. In 2008, SABIC was Asia's largest (in
terms of market capitalization) and most profitable publicly listed non-oil company, the world's
fourth-largest petrochemical company, the second-largest producer of ethylene
glycol and methanol in the world, the third-largest producer of polyethylene and overall the
fourth-largest producer of polypropylene and polyolefin. It ranked 186th as the world's largest
corporation on the Fortune Global 500 for 2009. Standard & Poor's and Fitch Ratings claimed
SABIC to be the world's largest producer of polymers and the Persian Gulf region's largest steel
producer for 2005 and assigned SABIC an "A" corporate credit rating. In 2008, Fortune 500
ranking records SABIC revenues at $40.2 billion, profits at $5.8 billion, and assets standing at
$72.4 billion.[196]

Ma'aden (company):

Ma'aden was formed as a Saudi joint stock company on 23 March 1997 for the purpose of
facilitating the development of Saudi Arabia's mineral resources. Ma'aden's activities have
focused on its active gold business which has grown in recent years to include the operation of
five gold mines: Mahd Ad Dahab, Al Hajar, Sukhaybarat, Bulghah, and Al Amar. Ma'aden is
now expanding its activities beyond its gold business with the development of phosphates,
aluminium, and other projects. In addition, since its formation, Ma'aden (through the Ministry of
Petroleum and Mineral Resources) has collaborated with the government and local legislators to
develop a regulatory framework for the governance of the mining industry.

ICT SERVICES:
Saudi Arabia experienced a boom in computer use since deregulation in 2002. The number of
PCs per capita grew from 13% of the population owning a computer in 2002 to nearly 43% in
2005, leapfrogging the rest of West Asia. By 2018, 50.57% of the population owned computers.
[197]
The electrical and electronic market was estimated to be around $3.5 billion in 2004. [198]

The Saudi ICT sector has grown significantly over the last decade and is still showing strong
growth. In 2012, ICT sector spending was recorded at SAR 94 billion, with 13.9% annual
growth, and reached approximately SAR 102 billion in 2013, with approximately 14% annual
growth.[199]. The e-commerce market was estimated at just over $1 billion in 2001, and grew to an
estimated $7.7 billion in 2021.[200][201]

Economy of Saudi Arabia:

As of October 2018, Saudi Arabia is the largest economy in the Middle East and the 18th largest
in the world.[308] It has the world's second-largest proven petroleum reserves and is the largest
exporter of petroleum.[309][310] The country has the world's second-largest oil reserves[311] and
the sixth-largest proven natural gas reserves.[33] Saudi Arabia is considered an "energy
superpower,"[312][313] having the second highest total estimated value of natural resources, valued
at US$34.4 trillion in 2016.[314]

The command economy is petroleum-based; roughly 63%[315] of budget revenues and 67%[316] of
export earnings come from the oil industry. The oil industry constitutes about 45% of Saudi
Arabia's nominal gross domestic product, compared with 40% from the private sector. It is
strongly dependent on foreign workers with about 80% of those employed in the private sector
being non-Saudi.[317][318] Challenges to the economy include halting or reversing the decline in
per-capita income, improving education to prepare youth for the workforce and providing them
with employment, diversifying the economy, stimulating the private sector and housing
construction, and diminishing corruption and inequality.[319]
OPEC (the Organization of Petroleum Exporting Countries) limits its members' oil production
based on their "proven reserves." Saudi Arabia's published reserves have shown little change
since 1980, with the main exception being an increase of about 100 billion barrels (1.6×1010 m3)
between 1987 and 1988.[320] Matthew Simmons has suggested that Saudi Arabia is greatly
exaggerating its reserves and may soon show production declines (see peak oil).[321]
From 2003 to 2013, "several key services" were privatized—municipal water supply, electricity,
telecommunications—and parts of education and health care, traffic control and car accident
reporting were also privatized. According to Arab News columnist Abdel Aziz Aluwaisheg, "in
almost every one of these areas, consumers have raised serious concerns about the performance
of these privatized entities."[322] In November 2005, Saudi Arabia was approved as a member of
the World Trade Organization. Negotiations to join had focused on the degree to which Saudi
Arabia is willing to increase market access to foreign goods and in 2000, the government
established the Saudi Arabian General Investment Authority to encourage foreign direct
investment in the kingdom. Saudi Arabia maintains a list of sectors in which foreign investment
is prohibited, but the government plans to open some closed sectors such as telecommunications,
insurance, and power transmission/distribution over time. The government has also made an
attempt at "Saudizing" the economy, replacing foreign workers with Saudi nationals with limited
success.[323]

In addition to petroleum and gas, Saudi has a significant gold mining sector in the Mahd adh
Dhahab region and significant other mineral industries, an agricultural sector (especially in the
southwest) based on vegetables, fruits, dates etc. and livestock, and large number of temporary
jobs created by the roughly two million annual hajj pilgrims.[319] Saudi Arabia has had five-year
"Development Plans" since 1970. Among its plans were to launch "economic cities" (e.g. King
Abdullah Economic City) in an effort to diversify the economy and provide jobs. The cities will
be spread around Saudi Arabia to promote diversification for each region and their economy, and
the cities are projected to contribute $150 billion to the GDP.

Saudi Arabia is increasingly activating its ports in order to participate in trade between Europe
and China in addition to oil transport. To this end, ports such as Jeddah Islamic Port or King
Abdullah Economic City are being rapidly expanded, and investments are being made in
logistics. The country is historically and currently part of the Maritime Silk Road.[325][326][327][328]

Statistics on poverty in the kingdom are not available through the UN resources because the
Saudi government does not issue any.[329] The Saudi state discourages calling attention to or
complaining about poverty. In December 2011, the Saudi interior ministry arrested three
reporters and held them for almost two weeks for questioning after they uploaded a video on the
topic to YouTube.[330][331][332] Authors of the video claim that 22% of Saudis may be considered
poor.[333] Observers researching the issue prefer to stay anonymous[334] because of the risk of
being arrested.

The unexpected impact of the COVID-19 pandemic on the economy, along with Saudi Arabia's
poor human rights records, laid unforeseen challenges before the development plans of the
kingdom, where some of the programs under 'Vision 2030' were also expected to be affected.
[335]
On 2 May, the Finance Minister of Saudi Arabia admitted that the country's economy was
facing a severe economical crisis for the first time in decades, because of the pandemic as well as
declining global oil markets. Mohammed Al-Jadaan said that the country will take "painful"
measures and keep all options open to deal with the impact.[336]

AGRICULTURE:

Serious large-scale agricultural development began in the 1970s. The government launched an
extensive program to promote modern farming technology; to establish rural roads, irrigation
networks and storage and export facilities; and to encourage agricultural research and training
institutions. As a result, there has been a phenomenal growth in the production of all basic foods.
Saudi Arabia is self-sufficient in numerous foodstuffs, including meat, milk, and eggs. The
country exports dates, dairy products, eggs, fish, poultry, fruits, vegetables, and flowers. Dates,
once a staple of the Saudi diet, are now mainly grown for global humanitarian aid. In addition,
Saudi farmers grow substantial amounts of other grains such as barley, sorghum, and millet. As
of 2016, in the interest of preserving precious water resources, domestic production of wheat,
which it used to export, ended.[337]Consuming non-renewable groundwater resulted in the loss of
an estimated four-fifths of the total groundwater reserves by 2012.[338]

The kingdom has some of the most modern and largest dairy farms in the Middle East. Milk
production boasts a remarkably productive annual rate of 6,800 litres (1,800 US gallons) per
cow, one of the highest in the world. The local dairy manufacturing company Almarai is the
largest vertically integrated dairy company in the Middle East.[339]

The olive tree is indigenous to Saudi Arabia. The Al Jouf region has millions of olive trees, and
the number is expected to increase to 20 million trees.[340]
WATER SUPPLY:
One of the main challenges for Saudi Arabia is water scarcity. Substantial investments have been
undertaken in seawater desalination, water distribution, sewerage and wastewater treatment.
Today about 50% of drinking water comes from desalination, 40% from the mining of non-
renewable groundwater, and 10% from surface water in the mountainous southwest of the
country.[341] Saudi Arabia is suffering from a major depletion of the water in its underground
aquifers and a resultant break down and disintegration of its agriculture as a consequence.[342]
[343]
As a result of the catastrophe, Saudi Arabia has bought agricultural land in the United States,
[344][345]
Argentina,[346] and Africa.[347][348][349][350] Saudi Arabia ranked as a major buyer of
agricultural land in foreign countries.[351][352]
According to the Joint Monitoring Program (JMP) for Water Supply and Sanitation of
the WHO and UNICEF, the latest reliable source on access to water and sanitation in Saudi
Arabia is the 2004 census. It indicates that 97% of the population had access to an improved
source of drinking water and 99% had access to improved sanitation. For 2015, the JMP
estimates that access to sanitation increased to 100%. Sanitation was primarily through on-site
solutions, and about 40% of the population was connected to sewers.[354] In 2015, 886,000 people
lacked access to "improved" water.[355][356]
TOURISM:

Although most tourism largely involves religious pilgrimages, there is growth in the leisure
tourism sector. According to the World Bank, approximately 14.3 million people visited Saudi
Arabia in 2012, making it the world's 19th-most-visited country.[357] Tourism is an important
component of the Saudi Vision 2030, and according to a report conducted by BMI Research in
2018 both religious and non-religious tourism have significant potential for expansion.[358]

The kingdom offers an electronic visa for foreign visitors to attend sports events and concerts.
[359]
In 2019, the kingdom announced its plans to open visa applications for visitors, where people
from about 50 countries would be able to get tourist visas to Saudi.[360] In 2020 it was announced
that holders of a US, UK or Schengen visa are eligible for a Saudi electronic visa upon arrival.
[361]

EDUCATION:
Education is free at all levels, although higher education is restricted to citizens only.[412] The
school system is composed of elementary, intermediate, and secondary schools. Classes are
segregated by sex. At the secondary level, students are able to choose from three types of
schools: general education, vocational and technical, or religious.[413] The rate of literacy is 99%
among males and 96% among females in 2020.[414][415] Youth literacy rose to approximately
99.5% for both sexes.[416][417]
Higher education has expanded rapidly, with large numbers of universities and colleges being
founded particularly since 2000. Institutions of higher education include King Saud University,
the Islamic University at Medina, and the King Abdulaziz University in Jeddah. Princess Norah
University is the largest women's university in the world. King Abdullah University of Science
and Technology, known as KAUST, is the first mixed-gender university campus in Saudi Arabia
and was founded in 2009. Other colleges and universities emphasize curricula in sciences
and technology, military studies, religion, and medicine. Institutes devoted to Islamic studies, in
particular, abound. Women typically receive college instruction in segregated institutions. [153]

The Academic Ranking of World Universities, known as Shanghai Ranking, ranked five Saudi
institutions among its 2022 list of the 500 top universities in the world.[418] The QS World
University Rankings lists 14 Saudi universities among the 2022 world's top universities and 23
universities among the top 100 in the Arab world.[419] The 2022 list of U.S. News & World
Report Best Global University Ranking ranked King Abdulaziz University among the top 50
universities in the world and King Abdullah University of Science and Technology among the
top 100 universities in the world.

In 2018, Saudi Arabia ranked 28th worldwide in terms of high-quality research output according
to the scientific journal Nature.[420] This makes Saudi Arabia the best performing Middle Eastern,
Arab, and Muslim country.[citation needed] Saudi Arabia spends 8.8% of its gross domestic product on
education, compared with the global average of 4.6%.[421] Saudi Arabia was ranked 48th in
the Global Innovation Index in 2023, up from 68th in 2019.[422][423][424]

The Saudi education system has been accused of encouraging Islamic terrorism, leading to
reform efforts.[425][426] Following the 9/11 attacks, the government aimed to tackle the twin
problems of encouraging extremism and the inadequacy of the country's university education for
a modern economy, by slowly modernising the education system through the "Tatweer" reform
program.[425] The Tatweer program is reported to have a budget of approximately US$2 billion
and focuses on moving teaching away from the traditional Saudi methods of memorization and
rote learning towards encouraging students to analyse and problem-solve. It also aims to create
an education system which will provide a more secular and vocationally based training. [427][428]

In 2021, the Washington Post reported on the measures taken by Saudi Arabia to clean textbooks
from paragraphs considered antisemitic and sexist. The paragraphs dealing with the punishment
of homosexuality or same-sex relations have been deleted, and expressions of admiration for the
extremist martyrdom. Antisemitic expressions and calls to fight the Jews became fewer. David
Weinberg, director of international affairs for the Anti-Defamation League, said that references
to demonizing Jews, Christians, and Shiites have been removed from some places or have toned
down. The U.S. State Department expressed in an email that it welcomed the changes. The Saudi
Ministry of Foreign Affairs supports a training program for Saudi teachers.[429]
HEALTH CARE:
Saudi Arabia has a national health care system in which the government provides free health care
services through government agencies. Saudi Arabia has been ranked among the 26 best
countries in providing high quality healthcare.[430] The Ministry of Health is the major
government agency entrusted with the provision of preventive, curative, and rehabilitative health
care. The ministry's origins can be traced to 1925, when several regional health departments were
established, with the first in Makkah. The various healthcare institutions were merged to become
a ministerial body in 1950.[431] The Health Ministry created a friendly competition between each
of the districts and between different medical services and hospitals. This idea resulted in the
creation of the "Ada'a" project launched in 2016. The new system is a nationwide performance
indicator, for services and hospitals. Waiting times and other major measurements improved
dramatically across the kingdom.[432]

A new strategy has been developed by the ministry, known as Diet and Physical Activity
Strategy or DPAS for short,[433] to address bad lifestyle choices. The ministry advised that there
should be a tax increase on unhealthy food, drink and cigarettes. This additional tax could be
used to improve healthcare offerings. The tax was implemented in 2017.[434] As part of the same
strategy, calorie labels were added in 2019 to some food and drink products. Ingredients were
also listed as an aim to reduce obesity and inform citizens with health issues, to manage their
diet.[435] As part of the ongoing focus on tackling obesity, women-only gyms were allowed to
open in 2017. Sports offered in each of these gyms include bodybuilding, running and swimming
to maintain higher standards of health.[436][437]
Smoking in all age groups is widespread. In 2009 the lowest median percentage of smokers was
university students (~13.5%) while the highest was elderly people (~25%). The study also found
the median percentage of male smokers to be much higher than that of females (~26.5% for
males, ~9% for females). Before 2010, Saudi Arabia had no policies banning or restricting
smoking.

The MOH has been awarded "Healthy City" certificates by the World Health
Organization (WHO) for the cities of Unayzahand Riyadh Al Khabra as 4th and 5th Healthy
Cities in Saudi Arabia.[438] The WHO had earlier classified three Saudi Arabian cities, Ad
Diriyah, Jalajil, and Al-Jamoom as "Healthy city", as part of the WHO Healthy Cities Program.
Recently Al-Bahahas also been classified as a healthy city to join the list of global healthy cities
approved by the World Health Organization.[439]

In May 2019, the then Saudi Minister of Health Tawfiq bin Fawzan AlRabiah received a global
award on behalf of the Kingdom for combatting smoking through social awareness, treatment,
and application of regulations.[440] The award was presented as part of the 72nd session of
the World Health Assembly, held in Geneva in May 2019. After becoming one of the first
nations to ratify the WHO Framework Convention on Tobacco Control in 2005, it plans to
reduce tobacco use from 12.7% in 2017, to 5% in 2030.[440]

Saudi Arabia has a life expectancy of 74.99 years (73.79 for males and 76.61 for females)
according to the latest data for the year 2018 from the World Bank.[441] Infant mortality in 2019
was 5.7 per 1000.[441] In 2016, 69.7% of the adult population was overweight and 35.5% was
obese.[442]

Foreigners:

The Central Department of Statistics & Information estimated the foreign population at the end
of 2014 at 33% (10.1 million).[443] The CIA Factbook estimated that as of 2013 foreign nationals
living in Saudi Arabia made up about 21% of the population.[11] Other sources report differing
estimates.[444] Indian: 1.5 million, Pakistani: 1.3 million,[445] Egyptian: 900000,
Yemeni: 800000, Bangladeshi: 400000, Filipino: 500000,
Jordanian/Palestinian: 260000, Indonesian: 250000, Sri Lankan: 350000,
Sudanese: 250000, Syrian: 100000 and Turkish: 80000.[446]
According to The Guardian, as of 2013 there were more than half a million foreign-born
domestic workers. Most have backgrounds in poverty and come from Africa, the Indian
subcontinent and Southeast Asia.[447] To go to work in Saudi Arabia, they must often pay large
sums to recruitment agencies in their home countries. The agencies then handle the necessary
legal paperwork.[448]

As the Saudi population grows and oil export revenues stagnate, pressure for "Saudization" (the
replacement of foreign workers with Saudis) has grown, and the Saudi government hopes to
decrease the number of foreign nationals in the country.[449] Saudi Arabia
expelled 800000 Yemenis in 1990 and 1991[450] and has built a Saudi–Yemen barrier against an
influx of illegal immigrants and against the smuggling of drugs and weapons.[451] In November
2013, Saudi Arabia expelled thousands of illegal Ethiopian residents from the kingdom. Various
Human Rights entities have criticized Saudi Arabia's handling of the issue.[452]

Over 500000 undocumented migrant workers—mostly from Somalia, Ethiopia, and Yemen—
have been detained and deported since 2013.[453] An investigation led by The Sunday Telegraph,
exposed the condition of African migrants who were detained in Saudi Arabia allegedly for
containing COVID-19 in the kingdom. They were beaten, tortured, and electrocuted. Many of
the migrants died due to heatstroke or by attempting suicide, after being severely beaten and
tortured. The migrants lack proper living conditions, provision of food and water.[454]

Foreigners cannot apply for permanent residency, though a specialized Premium Residency visa
became available in 2019.[455] Only Muslims can become Saudi citizens.[456] Foreigners who have
resided in the kingdom and hold degrees in various scientific fields may apply for Saudi
citizenship,[457][458] and exception made for Palestinians who are excluded unless married to a
male Saudi national, because of Arab League instructions barring the Arab states from granting
them citizenship. Saudi Arabia is not a signatory to the 1951 UN Refugee Convention.[459]

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Slide, Commerzbank Says". bloomberg.com. Bloomberg L.P. Retrieved 30
September2023.
3. "World Economic Outlook Database, April 2019". IMF.org. International
Monetary Fund. Archived from the original on 22 December 2019. Retrieved 29
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