Understanding The Implications Of Saudi Arabia’s Youth Boom

A current census states that Saudi’s population is now at 32.2 million, with a tremendous 63% of them being under the age of 30. This provides us a look into their demographics and the obstacles that develop with such a youthful population. Saudi Arabia has been undergoing some major changes in recent years, with the government carrying out reforms to additional modernize the country and draw in more foreign investment.

Economy and Planning Minister Faisal Al-Ibrahim discussed at an interview in Riyadh, that the latest census is Saudi Arabia’s the majority of informative and precise census in the Kingdom’s history. “Its outputs will be an essential pillar for preparation and decision-making, and supporting the investment environment in the kingdom,” Al-Ibrahim states. The census will be a crucial tool for planning and decision-making and will support the investment-driven environment in the kingdom.

The census exposed that Saudi Arabia’s population has grown by an incredible 34.2% considering that 2010, with a typical annual population growth of 2.5%. These figures highlight the obstacles facing Crown Prince Mohammed bin Salman in his ambitious strategies to diversify the economy away from oil and create 10 million jobs for Saudi nationals.

Prince Mohammed has actually introduced an enormous improvement strategy back in 2016, named Vision 2030. The strategy aims to establish local markets, promote tourism, and develop a more business-friendly environment in the kingdom. However, the large young population of Saudi Arabia presents a distinct obstacle in accomplishing these goals.

Regardless of the challenges, the Saudi government stays committed to attaining the Vision 2030 goals and changing the kingdom’s economy. With the insights gained from the most recent census, the government will be better geared up to make educated choices and plan for the future.


Leave a Reply

Your email address will not be published. Required fields are marked *