Saudi Vision 2030

Saudi Vision 2030 is a national strategy launched in 2016 to diversify Saudi Arabia’s economy, expand non-oil sectors, and transform public services.

Vision Realization Programs: Government programs established to implement Saudi Vision 2030 through coordinated initiatives and performance targets. These programs translate the strategy’s objectives into cross-government plans and projects.
Tourism in Saudi Arabia: The travel and hospitality sector in Saudi Arabia, including religious, cultural, leisure, and business tourism. Tourism is a major proposed source of non-oil revenue and employment.
Mohammed bin Salman: The Saudi crown prince and prime minister, who has led major economic and social reform initiatives. He announced Vision 2030 and became its principal political sponsor.
Saudi Arabia's oil economy: An economy in which petroleum production and exports have historically generated a large share of state revenue. Vision 2030 seeks to reduce the country’s fiscal and economic dependence on oil.
Public Investment Fund: Saudi Arabia’s sovereign wealth fund, which invests domestically and internationally in companies and projects. The fund finances major domestic investments intended to grow new industries and generate returns.
NEOM: A development region in northwestern Saudi Arabia announced in 2017, including planned urban and industrial projects. NEOM embodies the strategy’s ambitions for new industries and large-scale investment.
King Salman: The king of Saudi Arabia since 2015 and head of state during Vision 2030’s launch. His reign provided the royal authority under which the strategy was adopted.
Rentier state: A state that derives a large share of public revenue from rents, often from exporting natural resources. The concept describes the political-economic model diversification efforts aim to reshape.
National Transformation Program: A Saudi government program to improve public-sector performance and develop enabling infrastructure and services. It targets administrative and service reforms needed to deliver the strategy.
Saudi Entertainment Ventures: A company owned by Saudi Arabia’s Public Investment Fund that develops entertainment destinations. Its projects support domestic leisure spending and the expansion of entertainment options.

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