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Saudi Arabia Macroeconomic Boom: 8.7% GDP Growth, Vision 2030 & $7.6% Fiscal Surplus Fuel Transformation Journey – Ken Research



GURUGRAM, India, Feb. 12, 2024 /PRNewswire/ — Saudi Arabia’s macroeconomic landscape is experiencing a dynamic shift, fueled by surging oil prices, ambitious diversification efforts, and transformative Vision 2030 initiatives. Ken Research’s “Saudi Arabia Macroeconomic Assessment” report paints a vibrant picture, highlighting key trends, opportunities, and challenges for businesses and investors. This press release delves into the report’s insights, offering a snapshot of the Kingdom’s evolving economic landscape. 

Key Highlights: A Glimpse into the Saudi Economy 

Booming Oil Revenue: Driven by high oil prices, Saudi Arabia’s real GDP growth reached 8.7% in 2022, with non-oil GDP growth at a promising 4.8%. This translates to a fiscal surplus of 7.6% of GDP in 2022, providing significant resources for development initiatives. Vision 2030’s Transformative Power: The ambitious Vision 2030 plan aims to diversify the economy, reduce oil dependence, and create a vibrant private sector. Initiatives like NEOM and giga-projects are already attracting investments and stimulating non-oil growth. Strategic Reforms: Reforms like opening up new sectors to foreign investment and streamlining regulations are improving the business environment and attracting international interest. Population Growth and Consumption Boom: Saudi Arabia’s young and growing population, coupled with rising disposable incomes, is driving domestic consumption, creating opportunities for diverse sectors like retail, tourism, and healthcare. 

Interested to Know More about this Report, Request a Free Sample Report

Market Segmentation: A Deeper Dive into Key Sectors 

The report segments the Saudi Arabian economy into key sectors: 

Oil & Gas: Despite diversification efforts, oil and gas remain the backbone of the economy, accounting for 50% of government revenue in 2022. Rising oil prices and production are expected to continue fueling economic growth in the near term. Non-Oil Sectors: With a focus on non-oil growth, sectors like construction, manufacturing, and financial services are witnessing significant investments and development. Tourism & Hospitality: Recognizing its tourism potential, Saudi Arabia is investing heavily in developing tourism infrastructure and attracting international visitors. This sector is poised for high growth in the coming years. 

Future Outlook: Charting a Course for Continued Growth 

Despite the positive outlook, some challenges remain: 

Geopolitical Risks: Regional instability and fluctuating oil prices pose potential risks to economic stability. Diversification Challenges: Successfully transitioning away from oil dependence requires sustained efforts in developing non-oil sectors and attracting diverse investments. Human Capital Development: Upskilling and reskilling the workforce are crucial to meet the demands of the diversifying economy. 

Despite these challenges, the Saudi Arabian economy is on a promising trajectory, driven by: 

Continued Government Support: Vision 2030 initiatives and ongoing reforms are expected to continue driving economic diversification and attracting investments. Technological Advancements: Embracing advanced technologies like AI and cloud computing will further enhance efficiency and productivity across sectors. Strategic Partnerships: Collaborations with international players will foster knowledge transfer, skill development, and technology adoption. 

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Key Takeaways for Stakeholders: 

This report offers valuable insights for various stakeholders in the Saudi Arabian economy: 

Investors: Identifying lucrative investment opportunities in high-growth sectors like tourism, healthcare, and technology. Businesses: Understanding the evolving market landscape, regulatory framework, and consumer trends to adapt their strategies effectively. Government Agencies: Formulating policies and regulations that support economic diversification, attract foreign investment, and create a skilled workforce. Individuals: Gaining insights into the economic outlook and potential growth opportunities within the Kingdom. 


Saudi Arabia’s macroeconomic landscape is brimming with potential, presenting exciting opportunities for businesses and investors alike. By navigating the challenges, capitalizing on the growth drivers, and embracing the transformative power of Vision 2030, the Kingdom is poised for a prosperous and diversified future.

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KSA Macroeconomic Assessment

By Population

On the basis of Age

By gender

By nationality

By Educational Level

By Literacy Rate



By Household Size and Income



Average Family Income

Average Individual income with income (SAR)

By Number of Households

Number of Households

Average monthly Household income (SAR)



Saudi and Non-Saudi

Average monthly income (on the basis of gender)



Average monthly income of a Saudi family (On the basis of qualification)




 Average monthly income of a Saudi family (On the basis of marital status)



Never Married


Average per capita monthly income



Saudi and Non-Saudi

Average per capita monthly expenditure



Saudi and Non-Saudi

Breakup of the household expenditure (%), (Saudi- Non-Saudi)

Housing, Water, Electricity, Gas, and other Fuels

Miscellaneous Personal Goods and Services

Food and Beverages


Restaurants and Hotels

Furniture and Furnishings


Fabric, Apparel and Footwear

Recreation and Culture




Labor Force Participation Rate (%)

Male – Non-Saudi

Female – Non-Saudi

Male – Saudi

Female – Saudi

Percentage distribution of Employment (%)

Male (Non-Saudi)

Female (Non-Saudi)

Male (Saudi)

Female (Saudi)

Percentage distribution of Employment (%)

Age 15 – 24

Age 25 – 34

Age 35 – 44

Age 45 – 54

Age 55+

Unemployment rate by nationality (%)

Saudi National

Non-Saudi National

Unemployment rate by Gender (%)



Major Region


Al Arid

Al Qirawan

Al Narjis

Al Yasmin

Al Sahafa

Al Malqa

Al Izdihar



Al Khobar





Al Mohammadiyyah 

Al Ghadir 

King Fahd 

Al Muruj 

An Nafal 

Ar Rabi 

Al Khuzama 

Al Nakheell 


Al Aqiq 

Ar Rihab 

Al Khalidiyah 

Al Faisaliyah 

At Tarif Al Jadid 


King Saud University 


For More Insights On Market Intelligence, Refer To The Link Below: –

Saudi Arabia Macroeconomic Assessment

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Ken Research Private Limited
Ankur Gupta, Director Strategy and Growth


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Walden Group, one of the main players in European healthcare logistics, officially enters the Italian market




The group’s goal is to position itself as a key player in the Italian market and continue to strengthen the offer of logistics solutions for its customers throughout Europe

MILAN and PARIS, March 1, 2024 /PRNewswire/ — Walden Group, one of the main players in the area of healthcare logistics in Europe, officially enters the Italian market after  the acquisition of the two Italian companies XCM Healthcare, a healthcare logistics company, and Unitex, a temperature-controlled last-mile network dedicated to the healthcare sector, belonging to the Marzano family, founder of the Farmacia S. Caterina group, and CEO Gaetano Colella.



With a 2.4% share of the global market in terms of drug consumption, Italy has always been a focus of Walden; the high level of expertise in the field of R&D, especially in the biotech sector, are among the main reasons that convinced the group in this decision. As a major player in the pharmaceutical supply chain and a provider of distribution solutions, the acquisitions have proven to be essential to enter the Italian market.

In addition, Italy is the third European country where the group will expand its operations within a year, following the recent extensions of transport activities in Romania and Germany. The group has significant ambitions for the future, with further projects already in the planning stages.

“I am thrilled to announce what we have achieved together; we share the same values and entrepreneurial mindset with the Marzano family and the CEO Gaetano Colella. This was certainly a key element in the decision to merge our companies,” says Stéphane Baudry, President of the Walden Group.

In recent years, the Marzano family and the CEO Gaetano Colella have developed Unitex, a robust transportation network organized around two main hubs strategically located in the north (Milan) and south (Naples) Italy, to offer comprehensive national coverage through a consolidated network of twenty-four regional depots.

The network will be incorporated into Eurotranspharma, Walden’s subsidiary specializing in last-mile pharmaceutical solutions, which makes daily deliveries to pharmacies, hospitals, wholesalers and other healthcare providers in nine countries. Thanks to the new acquisition, Eurotranspharma will extend its presence to ten European countries to provide an extensive and reliable service to all its customers.

Eurotranspharma will introduce its services to the Italian market while maintaining high quality standards and impeccable distribution practices. This will be supported by Walden Digital’s sophisticated IT systems, specifically dedicated to the healthcare sector, which enable the complete traceability of crucial healthcare products at every stage of the supply chain.

In parallel, XCM Healthcare has developed a promising healthcare logistics business that will be enhanced by integration within Movianto, Walden’s core healthcare logistics solution, which is already present in twelve European countries.

Movianto provides complete solutions for supply chain management, ensuring a reliable transfer of products from the manufacturer to the patient. Its expertise extends particularly to sensitive healthcare products such as biotechnology, vaccines and in vitro diagnostics. In addition to logistics management, the company offers high value-added services, such as order and collection management and laboratories dedicated to quality control. These services cover the entire supply chain, allowing manufacturers to focus solely on their core business.

“The recently completed acquisition marks the first step in our development in Italy. We are excited to collaborate with the Unitex and XCM teams to start the implementation of Eurotranspharma and Movianto solutions in Italy. I’m confident that we will achieve outstanding results, considering the expertise of the Unitex and XCM teams, combined with our international presence in Europe, which contributes to a deep understanding of the global market and experience in different business management models.”

“Of course, continuing to expand our presence in Europe is a priority, but we are a flexible organization and always ready to seize opportunities. Therefore, we are ready to grow wherever we can bring value to our customers and new healthcare markets, expanding beyond Europe,” concludes Baudry.

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For press enquiries
Laure Murat

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GeeTest Introduces Device Fingerprinting, a front-line defence mechanism that effectively combats evolving cyber threats




WUHAN, China, March 1, 2024 /PRNewswire/ — GeeTest, a leader in innovative bot management solutions, proudly presents its latest offering – GeeTest Device Fingerprinting. The advanced cybersecurity solution designed to fortify online platforms against evolving digital threats. Leveraging sophisticated algorithms and cutting-edge technology, it intelligently identifies and tracks devices, providing a robust defense mechanism against malicious activities. Existing security measures often struggle to identify and prevent malicious activities originating from seemingly legitimate devices. GeeTest Device Fingerprinting steps in as a proactive and advanced solution to bridge this gap.

Embrace the future of security with GeeTest Device Fingerprinting – where innovation meets protection. Elevate your risk management strategy with our advanced solution that not only identifies risks but adapts to the evolving landscape of digital threats. GeeTest Device Fingerprinting provides the following 5 key features.

1. Risk Labels

Monitor traffic credibility from both behavioral and device dimensions, providing up to 34 black industry risk labels for reference. It facilitates the identification of devices with similar risk labels, offering optimization references for your security and business strategies.

2. Relation Map

By identifying connections among risky traffic, automating the organization of risk details, frequency information, and associated data for high-risk devices, this process provides data references for business departments.

3. Application Management

You can add as many applications as you need. Each application’s data is distinguished through unique IDs and keys, facilitating secure data analysis for different modules of the business.

4. Access Control

According to your needs, you can manually add blacklists or whitelists to facilitate the management of access permissions to specific objects or resources.

5. Data Studio

Our Device Fingerprinting product includes a robust Data Studio feature, offering users an intuitive analytics dashboard for comprehensive insights. It enables informed decisions, pattern detection, and effective security strategy optimization.

GeeTest Device Fingerprinting leverages cutting-edge technologies such as Triple-Dimensional Review Technology, GCN Knowledge Graph, and Weak Feature Identification Technology. These technologies ensure comprehensive device identification and analysis while prioritizing user privacy. To learn more about key technologies at play you can download the product brochure of GeeTest Device Fingerprinting by clicking here.

In the fast-paced digital landscape, GeeTest’s Device Fingerprinting emerges as a beacon of defense. By intelligently identifying and tracking devices, it offers a robust defense mechanism against a multitude of threats faced by industries today.

For more about GeeTest, follow the company on LinkedIn.

About GeeTest:

GeeTest, a CAPTCHA and bot management provider, protects websites, mobile apps, and APIs from automated bot-driven attacks, like ATO, credential stuffing, web scalping, etc. GeeTest has been developing human-bot verification technology since 2012. Now it processes 2.9 billion CAPTCHA requests daily and serves 320,000+ companies in sectors like blockchain, online games, e-commerce, etc. In November 2021 GeeTest was recognized as a selected vendor in Forrester’s Now Tech: Bot Management, Q4 2021. In Aug 2023, GeeTest CAPTCHA Awarded 2023 Best Ease of Use and Best Value Badges by Capterra.

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Toray ACS Exhibits at Texprocess in Frankfurt, Germany




European Debut of Integrated 2D/3D Fashion CAD Software “CREACOMPO®GLOBAL”

TOKYO, March 1, 2024 /PRNewswire/ — Toray Advanced Computer Solution, Inc. (hereinafter “Toray ACS”) will be exhibiting at Texprocess, held at Messe Frankfurt from April 23rd to 26th, 2024.

Under our purpose “Uplifting the fashion industry, with our love for fashion creation and the power of IT.”, we are proud to offer cutting-edge CAD software to customers worldwide, boasting the No. 1 market share for 2D pattern making software in Japan.

At the exhibition, we will introduce the innovative 2D/3D integrated fashion CAD software “CREACOMPO®GLOBAL”, which revolutionizes our customers’ work efficiency.

CREACOMPO GLOBAL enables advanced 2D pattern making and accurate 3D simulations through simple operations, even without the need for CG skills or high-spec professional PCs.

You can find us at booth No. C65 in Exhibition Hall 8.0.

We look forward to your visit.

How to get there:

For more information about CREACOMPO GLOBAL, please visit

Company information:
Location: 1-1-3, Toranomon, Minato-ku, Tokyo, Japan
President: Kouichirou Ikeda

Company website:   

Note: CREACOMPO is either a registered trademark or a trademark of Toray Advanced Computer Solution, Inc. in Japan and/or other countries.

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