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![Riyadh’s retail space to grow by 28 percent to 4.6 million square meters by 2026: Report](https://economysaudiarabia.com/cdn-cgi/imagedelivery/Xfg_b7GtigYi5mxeAzkt9w/economysaudiarabia.com/2024/07/Riyadh-retail-.jpg/w=1024,h=683)
E-commerce market in Saudi Arabia expanded by 28 percent to SAR157 billion in 2023
![Riyadh ranks among 15 fastest-growing cities in the world by 2033: Report](https://economysaudiarabia.com/cdn-cgi/imagedelivery/Xfg_b7GtigYi5mxeAzkt9w/economysaudiarabia.com/2024/07/Riyadh-.jpg/w=1024,h=683)
Riyadh's population to grow from 5.9 million to 9.2 million in 10 years
![Saudi Arabia’s non-oil sector continues to grow in June, employment rises: PMI](https://economysaudiarabia.com/cdn-cgi/imagedelivery/Xfg_b7GtigYi5mxeAzkt9w/economysaudiarabia.com/2024/07/Saudi-Arabia-non-oil-sector.jpg/w=1024,h=683)
Export sales across the non-oil sector grew in June at the fastest rate so far this year
![Saudi Arabia’s unemployment rate stabilizes at 3.5 percent in Q1: GASTAT](https://economysaudiarabia.com/cdn-cgi/imagedelivery/Xfg_b7GtigYi5mxeAzkt9w/economysaudiarabia.com/2024/07/Saudi-unemployment.jpg/w=1024,h=685)
The unemployment rate for Saudi females rose to 14.2 percent in Q1 2024, up from 13.9 percent in the previous quarter
![Saudi Arabia strengthens economic ties with Switzerland at financial dialogue](https://economysaudiarabia.com/cdn-cgi/imagedelivery/Xfg_b7GtigYi5mxeAzkt9w/economysaudiarabia.com/2024/06/Saudi-Arabia-Switzerland.jpeg/w=1024,h=683)
Switzerland is one of Saudi Arabia's notable trading partners with over 100 companies in the Kingdom
![Riyadh among top 5 startup ecosystems in MENA region: Report](https://economysaudiarabia.com/cdn-cgi/imagedelivery/Xfg_b7GtigYi5mxeAzkt9w/economysaudiarabia.com/2024/06/Riyadh-startup-ecosystem.jpg/w=1024,h=683)
Riyadh is among the top emerging ecosystems globally with four unicorns in the last 10 years
![Saudi Arabia’s international reserves reach $467.5 billion in May, highest in 18 months](https://economysaudiarabia.com/cdn-cgi/imagedelivery/Xfg_b7GtigYi5mxeAzkt9w/economysaudiarabia.com/2024/06/Saudi-Arabia-international-reserves-1.jpg/w=1024,h=680)
International currency holdings amounted to SAR1.66 trillion, up 6 percent during this period
![Saudi Arabia’s GDP grows 1.4 percent in Q1 2024, non-oil activities up by 3.4 percent YoY: GASTAT](https://economysaudiarabia.com/cdn-cgi/imagedelivery/Xfg_b7GtigYi5mxeAzkt9w/economysaudiarabia.com/2024/06/Saudi-Arabia-GDP.jpg/w=1024,h=681)
Non-oil activities also rose by 0.9 percent in the first three months of 2024 compared to the previous quarter
![Saudi Arabia’s non-oil private sector maintains steady growth with PMI at 56.4: Report](https://economysaudiarabia.com/cdn-cgi/imagedelivery/Xfg_b7GtigYi5mxeAzkt9w/economysaudiarabia.com/2024/06/Saudi-Arabias-non-oil-private-1.jpg/w=1024,h=682)
Robust inventory growth continued as companies sought to prepare for strong sales performances in the future, the report said
![Saudi Arabia issues 127 regional HQs licenses for companies in Q1, up 477 percent YoY](https://economysaudiarabia.com/cdn-cgi/imagedelivery/Xfg_b7GtigYi5mxeAzkt9w/economysaudiarabia.com/2024/06/Saudi-Arabia-HQs-1.jpg/w=1024,h=683)
MISA processed during the quarter 445 investor visit visa applications, enabling overseas businesses to explore opportunities
![What is QIWA KSA: A comprehensive guide](https://economysaudiarabia.com/cdn-cgi/imagedelivery/Xfg_b7GtigYi5mxeAzkt9w/economysaudiarabia.com/2024/05/QIWA-KSA-1.jpg/w=1024,h=680)
QIWA is a platform aiming to enhance the electronic services provided to the labor sectorÂ
![Saudi Arabia’s non-oil sector projected to grow 4.8 percent in 2024, 5.2 percent in 2025: Report](https://economysaudiarabia.com/cdn-cgi/imagedelivery/Xfg_b7GtigYi5mxeAzkt9w/economysaudiarabia.com/2024/05/Saudi-Arabia-non-oil-1.jpg/w=1024,h=683)
The Kingdom's GDP is expected to expand by 2.3 percent in 2024 and accelerate to 5.8 percent in 2025, the report said
![Saudi Arabia maintains ‘A1’ credit rating with positive outlook amid successful economic reforms: Report](https://economysaudiarabia.com/cdn-cgi/imagedelivery/Xfg_b7GtigYi5mxeAzkt9w/economysaudiarabia.com/2024/05/Saudi-Arabia-credit-rating.jpg/w=1024,h=683)
The rating reflects the government's significant progress in implementing a broad-based reform agenda since 2016
![Point-of-sale spending in Saudi Arabia reaches $3.1 billion: Report](https://economysaudiarabia.com/cdn-cgi/imagedelivery/Xfg_b7GtigYi5mxeAzkt9w/economysaudiarabia.com/2024/05/Saudi-Arabia-POS-1-1-1.jpg/w=1024,h=683)
The largest share of spending (15 percent) was on beverages and food, amounted to $471.94 million
![Saudi Arabia’s e-commerce market projected to hit $44 billion by 2030](https://economysaudiarabia.com/cdn-cgi/imagedelivery/Xfg_b7GtigYi5mxeAzkt9w/economysaudiarabia.com/2024/05/Saudi-Arabia-e-commerce.jpg/w=1024,h=683)
The sector is predicted to experience a 13.5 percent annual growth, surpassing the global average of 11.2 percent
![Saudi Arabia maintains steady inflation rate of 1.6 percent in April 2024](https://economysaudiarabia.com/cdn-cgi/imagedelivery/Xfg_b7GtigYi5mxeAzkt9w/economysaudiarabia.com/2024/05/Saudi-Arabia-inflation.jpg/w=1024,h=682)
Inflation in April was driven by a 10.4 percent increase in rental prices, largely due to a 9.4 percent jump in villa rents
![U.K. second largest foreign investor in Saudi Arabia with $16 billion in investment shares](https://economysaudiarabia.com/cdn-cgi/imagedelivery/Xfg_b7GtigYi5mxeAzkt9w/economysaudiarabia.com/2024/05/U.K.-Saudi-Arabia.jpg/w=1024,h=683)
Saudi minister highlights the Kingdom's status as the fastest-growing economy over the past six years
![$3.7 billion Saudi investments set to boost North East England’s economy, generate 2,000 jobs: U.K. Official](https://economysaudiarabia.com/cdn-cgi/imagedelivery/Xfg_b7GtigYi5mxeAzkt9w/economysaudiarabia.com/2024/05/UK-Saudi1.jpg/w=1024,h=683)
An Education Task Force will be also established to promote cooperation in higher education
![Unemployment rate in Saudi Arabia’s labor market at 8.6 percent, women’s participation reaches 34.2 percent](https://economysaudiarabia.com/cdn-cgi/imagedelivery/Xfg_b7GtigYi5mxeAzkt9w/economysaudiarabia.com/2024/05/Saudi-employment-1.jpg/w=1024,h=683)
Over 1,000 government employees received training at international agencies, enhancing their work effectiveness
![Nearly 30,500 new employees join Saudi Arabia’s private sector in April](https://economysaudiarabia.com/cdn-cgi/imagedelivery/Xfg_b7GtigYi5mxeAzkt9w/economysaudiarabia.com/2024/05/Saudi-Arabia-private-sector.jpg/w=1024,h=683)
As many as 2.36 million citizens were working in the Kingdom's private sector in April
![Saudi Arabia, Malaysia discuss trade, economic partnerships in priority sectors](https://economysaudiarabia.com/cdn-cgi/imagedelivery/Xfg_b7GtigYi5mxeAzkt9w/economysaudiarabia.com/2024/05/Saudi-Arabia-Malaysia.jpg/w=1024,h=683)
Saudi-Malaysian Business Council launched
![Saudi Arabia’s non-oil sector starts Q2 2024 with strong growth, says PMI](https://economysaudiarabia.com/cdn-cgi/imagedelivery/Xfg_b7GtigYi5mxeAzkt9w/economysaudiarabia.com/2024/05/Saudi-Arabia-non-oil-sector.jpg/w=1024,h=683)
To meet rising demand, purchasing activity in Saudi Arabia's non-oil sector saw a sharp increase in April
![Saudi Arabia’s non-oil revenues rise 9 percent to $29.73 billion in Q1 2024: MoF](https://economysaudiarabia.com/cdn-cgi/imagedelivery/Xfg_b7GtigYi5mxeAzkt9w/economysaudiarabia.com/2024/05/Saudi-Arabia-revenues.jpeg/w=1024,h=684)
Saudi Arabia's total revenues saw a 4 percent annual increase to SAR293.433 billion
![Saudi Arabia’s net FDI surges 16 percent to $3.49 billion, supporting non-oil growth](https://economysaudiarabia.com/cdn-cgi/imagedelivery/Xfg_b7GtigYi5mxeAzkt9w/economysaudiarabia.com/2024/05/Saudi-Arabia-FDI.jpeg/w=1024,h=682)
Saudi Arabia aims to attract $100 billion in FDI by 2030