Non-Oil GDP Share: 76% ▲ -7.7pp vs 2020 | Saudi Unemployment: 3.5% ▲ -0.5pp vs 2023 | PIF AUM: $941.3B ▲ +$345B vs 2022 | Inbound FDI: $21.3B ▼ -6.4% vs 2023 | Female Participation: 33% ▲ -1.1pp vs 2023 | Credit Rating: Aa3/A+ ▲ Moody's / Fitch | GDP Growth: 2.0% ▲ +1.5pp vs 2023 | Umrah Pilgrims: 16.92M ▲ vs 11.3M target | Non-Oil GDP Share: 76% ▲ -7.7pp vs 2020 | Saudi Unemployment: 3.5% ▲ -0.5pp vs 2023 | PIF AUM: $941.3B ▲ +$345B vs 2022 | Inbound FDI: $21.3B ▼ -6.4% vs 2023 | Female Participation: 33% ▲ -1.1pp vs 2023 | Credit Rating: Aa3/A+ ▲ Moody's / Fitch | GDP Growth: 2.0% ▲ +1.5pp vs 2023 | Umrah Pilgrims: 16.92M ▲ vs 11.3M target |

Annual Reviews

Year-by-year analysis of Vision 2030 progress covering KPI movements, policy shifts, and programme milestones.

The Annual Reviews provide consolidated year-over-year assessments of Vision 2030 progress, synthesising KPI movements, policy developments, programme milestones, and strategic recalibrations into a single authoritative narrative for each reporting period.

Each review benchmarks the Kingdom’s progress against its own published targets, international peer comparators, and the implied delivery velocity required to meet 2030 endpoints. This longitudinal perspective reveals acceleration and deceleration patterns that point-in-time snapshots cannot capture.

Annual Reviews are published following the release of official Saudi progress reports and updated as supplementary data from international organisations and credit rating agencies becomes available. See the Vision 2030 overview for strategic context and our investment analysis for capital markets implications.

Vision 2030 Annual Progress Review 2017

Assessment of Saudi Vision 2030 progress in 2017 covering NTP launch, giga-project announcements, and early employment reforms.

Feb 22, 2026

Vision 2030 Annual Progress Review 2018

Assessment of Saudi Vision 2030 progress in 2018 covering VAT introduction, women driving, cinema reopening, and economic legislation.

Feb 22, 2026

Vision 2030 Annual Progress Review 2019

Assessment of Saudi Vision 2030 progress in 2019 covering the Aramco IPO, MISA establishment, and tourist visa introduction.

Feb 22, 2026

Vision 2030 Annual Progress Review 2020

Assessment of Saudi Vision 2030 progress in 2020 covering COVID-19 impact, VAT increase to 15%, and fiscal resilience measures.

Feb 22, 2026

Vision 2030 Annual Progress Review 2021

Assessment of Saudi Vision 2030 progress in 2021 covering the Green Initiative, Shareek launch, HCDP, and post-COVID recovery.

Feb 22, 2026

Vision 2030 Annual Progress Review 2022

Assessment of Saudi Vision 2030 progress in 2022 covering Gaming Strategy, SEZs, Companies Law, and record economic growth.

Feb 22, 2026

Vision 2030 Annual Progress Review 2023

Assessment of Saudi Vision 2030 progress in 2023 covering early UNESCO target achievement, giga-project construction, and culture.

Feb 22, 2026

Vision 2030 Annual Progress Review 2024

Assessment of Saudi Vision 2030 progress in 2024 covering 7% unemployment achieved, PIF at $941.3B, and 93% KPIs on track.

Feb 22, 2026