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

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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. 

Visit this Link :- Request for custom report

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. 

Conclusion: 

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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Taxonomy

KSA Macroeconomic Assessment

By Population

On the basis of Age

By gender

By nationality

By Educational Level

By Literacy Rate

Male

Female

By Household Size and Income

Saudi

Non-Saudi

Average Family Income

Average Individual income with income (SAR)

By Number of Households

Number of Households

Average monthly Household income (SAR)

Saudi

Non-Saudi

Saudi and Non-Saudi

Average monthly income (on the basis of gender)

Male

Female

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

PHD

Masters

Diploma

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

Divorced

Married

Never Married

Widowed

Average per capita monthly income

Saudi

Non-Saudi

Saudi and Non-Saudi

Average per capita monthly expenditure

Saudi

Non-Saudi

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

Transport

Restaurants and Hotels

Furniture and Furnishings

Communications

Fabric, Apparel and Footwear

Recreation and Culture

Education

Health

Tobacco

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 (%)

Female

Male

Major Region

Riyadh

Al Arid

Al Qirawan

Al Narjis

Al Yasmin

Al Sahafa

Al Malqa

Al Izdihar

Dammam

Dhahran

Al Khobar

Jeddah

Mecca

Tabuk

Medina

Al Mohammadiyyah 

Al Ghadir 

King Fahd 

Al Muruj 

An Nafal 

Ar Rabi 

Al Khuzama 

Al Nakheell 

Hittin 

Al Aqiq 

Ar Rihab 

Al Khalidiyah 

Al Faisaliyah 

At Tarif Al Jadid 

Diriyah 

King Saud University 

Almugaider

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

Saudi Arabia Macroeconomic Assessment

Related Reports by Ken Research: –

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US Two-Way Radio Market is showing considerable growth over the years, moving forward with an expected CAGR of ~7% within a time period of 2022 to 2028. This rise is in the wake of digitization globally, which is pushing this market to rise up to the newer challenges.

Asia Media and Entertainment Market Outlook to 2027 Driven by Increased Consumer Spending & Government Investments, and Entry of International Brands

Advancements in virtual reality (VR), augmented reality (AR), and other immersive technologies are expected to enhance user experiences and find applications in various entertainment sectors, such as gaming, theme parks, and interactive content. Collaborations between entertainment companies in different Asian countries may increase, leading to the exchange of content, talent, and expertise, fostering a more interconnected and diverse entertainment landscape.

UAE Leisure and Entertainment Market Outlook to 2027 Driven by Increased Consumer Spending & Government Investments, and Entry of International Brands

The integration of cutting-edge technologies, such as virtual reality, augmented reality, and artificial intelligence, is expected to revolutionize the entertainment experiences offered in the UAE. This will create novel and immersive attractions, appealing to both local and international audiences.

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Contact Us:-
Ken Research Private Limited
Ankur Gupta, Director Strategy and Growth
Ankur@kenresearch.com
+91-9015378249

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Cognizant Propels AI Workforce Training with Cognizant Skillspring™: New Talent Transformation Platform Designed to Accelerate Clients’ Workforce AI Readiness

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New AI-native platform equips organizations to achieve AI fluency, aligns workforce capabilities with the demands of an AI-powered economy and drives outcome-based learning tailored to business objectives

Skillspring leverages Cognizant’s long-standing workforce training expertise to help enterprises address skilling as a critical AI infrastructure investment

TEANECK, N.J., April 21, 2026 /PRNewswire/ — Cognizant (Nasdaq: CTSH) today unveiled Cognizant Skillspring™, a multimodal, AI-native, conversational learning platform designed to redefine learning in the AI era and help businesses cultivate AI-ready talent at scale. The platform moves beyond static courses and compliance-driven training to enable organizations to respond to rapidly changing roles, technologies and skills demands, and help learning investments translate to business outcomes.

Cognizant’s New Work New World 2026 research found AI is reshaping work far faster than anticipated, with AI now capable of handling $4.5 trillion in U.S. work tasks and impacting up to 93% of jobs today, outpacing the speed at which conventional learning systems can respond. As enterprises redesign work across human and agentic teams, skilling is becoming a core part of the AI infrastructure every organization needs – building the fluency people require to adapt as work evolves, contribute in new ways and grow into emerging roles.

Cognizant Skillspring uses AI agent-driven tutoring and content creation to deliver high-quality, personalized learning across large workforces while helping organizations manage learning and development costs more efficiently. The platform maps skills directly to roles, projects and performance outcomes, and adapts learning paths as roles and skill requirements evolve. Conversational, multimodal experiences embed learning directly into clients’ daily workflows so employees build skills while work gets done.

Internally, Cognizant Skillspring is complemented by the AI Fluency Dashboard, a personalized, real‑time view that gives every associate visibility into their AI readiness while encouraging real‑world AI usage and innovation across the enterprise. The dashboard provides Cognizant associates with insight into their AI skills, learning progress, usage and innovation – using scoring and gamification to accelerate adoption and drive stronger application of AI in day‑to‑day work. 

“The AI era requires more dynamic learning systems designed to evolve as work, roles and technologies change. Cognizant Skillspring is purpose-built for the pace and complexity of this moment, enabling continuous talent transformation in the flow of work,” said Kathy Diaz, Chief People Officer, Cognizant. “As an AI builder, Cognizant focuses on turning AI investment into real-world outcomes for our clients. Cognizant Skillspring improves time-to-competency and alignment between skills investments and business priorities – helping ensure workforces remain ready as roles and technologies continue to dynamically evolve.”

Cognizant Skillspring is also available for universities, colleges, community and workforce development partners, underscoring Cognizant’s commitment to creating pathways for talent from all backgrounds to thrive in the AI age. This effort builds on the company’s ongoing investments in skilling and workforce readiness, including Synapse, Cognizant’s global upskilling program, and the company’s White House pledge, to invest in America’s youth and AI education.

“Like all education institutions, The Marcy Lab School must evolve in order to meet the pace of change in the economy and prepare our fellows for a rapidly shifting world of work,” said Reuben Ogbonna II, Executive Director, The Marcy Lab School. “In the age of AI, nearly every workflow is being reshaped and we see this as a significant opportunity to strengthen how we prepare young adults for meaningful careers. Through Cognizant’s support and the Skillspring platform, our fellows will build job skills faster through high-quality learning aligned to the roles and projects they’ll take on at leading companies.”

Already deployed internally at Cognizant, Skillspring builds upon the company’s award-winning learning and development expertise and investments that provide a framework to upskill hundreds of thousands of Cognizant employees each year.

“Our upskilling engine combines advanced technology and digital and critical human skills, with learning programs recognized for future-forward curriculum, innovation and measurable impact,” said Thirumala Arohi, Chief Learning Officer, Cognizant. “Cognizant Skillspring brings an AI-native learning experience to businesses, community and academic ecosystems, supporting enterprise-scale workforce transformation as well as partners preparing learners for in-demand roles and evolving skill requirements.”

About Cognizant:

Cognizant (NASDAQ: CTSH) is an AI builder and technology services provider, building the bridge between AI investment and enterprise value by building full-stack AI solutions for our clients. Our deep industry, process and engineering expertise enables us to build an organization’s unique context into technology systems that amplify human potential, realize tangible returns and keep global enterprises ahead in a fast-changing world. See how at www.cognizant.com or @cognizant.

For more information, contact:

U.S.
Name: Bill Abelson
Email: william.abelson@cognizant.com 

Europe / APAC
Name: Sarah Douglas
Email: sarah.douglas@cognizant.com 

India
Name: Vipin Nair
Email: Vipin.Nair@cognizant.com

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CNN to bring its Global Perspectives events series to Bangkok

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Conversations to be led by CNN journalists including Dr. Sanjay Gupta, Richard Quest and Kristie Lu Stout

HONG KONG, April 21, 2026 /PRNewswire/ — CNN will hold the inaugural Asia chapter of its Global Perspectives events franchise in Bangkok, Thailand, on 14 October 2026, reinforcing the network’s commitment to convene global leaders and fostering dialogue on the critical issues shaping international business, policy and economic development.

CNN will bring together dignitaries, visionaries, political and business leaders for Global Perspectives: In Bangkok, to explore big ideas, bold leadership and the dynamic economies at the forefront of global transformation. On-stage conversations will be led by CNN’s esteemed anchors and correspondents, including Dr. Sanjay Gupta, Richard Quest, Kristie Lu Stout, Will Ripley and Hanako Montgomery, with editorial content and news-making interviews from the event featured across CNN platforms.

Expanding the Global Perspectives series with this Bangkok edition underscores CNN’s long-standing engagement in Asia. As a historic economic and cultural crossroads, Bangkok sits at the intersection of global economic dynamism, regional influence and vibrant cultural energy. The event will take place as global leaders, investors and policymakers gather in the city for the International Monetary Fund and World Bank Group Annual Meetings, creating an exclusive platform for CNN to examine a world in transition and the forces reshaping power and influence.

Ellana Lee, Group SVP, GM APAC, & Global Head of Productions at CNN, said: “Global Perspectives: In Bangkok will reflect CNN’s deep commitment to Asia and will aim to foster conversations that matter most on the global stage. At a time of rapid transformation, this event will bring together influential voices to examine the ideas, opportunities and challenges shaping the region and the world.” 

James Hunt, SVP, Head of Client Solutions & Business Lead, Global Perspectives, CNN International Commercial said: “Global Perspectives provides a unique platform for leaders and partners to engage in meaningful dialogue and connect with the forces driving global change. Hosting the event in Bangkok creates new opportunities for brand partners and sponsors to be associated with important conversations about collaboration, insight and impact at the heart of one of the world’s most dynamic regions.”

Expanding its events franchise by holding Global Perspectives: In Bangkok builds on CNN’s long-standing presence in Asia which includes a network of bureaus and correspondents across Hong Kong, Beijing, Bangkok, Taiwan, Seoul, Tokyo, New Delhi and Islamabad.

Global Perspectives is an invitation-only gathering for international decision-makers and influential leaders from across industries, including technology, finance, investment, trade, geopolitics, healthcare, media, entertainment and more. The event will be attended by heads of state, regional and global leaders, and participants can expect to form meaningful connections that will last well beyond the event itself. Global Perspectives will be hosted at The Ritz-Carlton, Bangkok. 

Further details on speakers and programming will be announced in due course. People interested in attending Global Perspectives: In Bangkok can register their interest at: https://cnnicevents.cnn.com/gpbangkok/prl

About CNN Worldwide

CNN Worldwide is the most honored brand in cable news, reaching more individuals through television, streaming and online than any other cable news organization in the United States. Globally, people across the world can watch CNN International, which is widely distributed in over 200 countries and territories. CNN Digital is the #1 online news destination, with more unique visitors than any other news source. HBO Max, Warner Bros. Discovery’s streaming platform, features CNN Max, a 24/7 streaming news offering available to subscribers alongside expanded access to News content and CNN Originals. CNN’s award-winning portfolio includes non-scripted programming from CNN Original Series and CNN Films for broadcast, streaming and distribution across multiple platforms. CNN programming can be found on CNN, CNN International and CNN en Español channels, via CNN Max and the CNN Originals hub on discovery+ and via pay TV subscription on CNN.com, CNN apps and cable operator platforms. Additionally, CNN Newsource is the world’s most extensively utilized news service partnering with over 1,000 local and international news organizations around the world. CNN is a division of Warner Bros. Discovery.

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SOURCE CNN International

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Quality Executive Partners, Inc.® Announces Exclusive Partnership with Vi’eNnI® Training and Consulting LLP to Accelerate Workforce Development in India’s Huge Pharmaceutical Sector with Virtuosi®

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ATLANTA and BENGALURU, India, April 21, 2026 /PRNewswire/ — Quality Executive Partners, Inc.® (QxP), a global leader in pharmaceutical quality, workforce development, regulatory compliance, and manufacturing consulting, today announced an exclusive strategic partnership with Vi’eNnI® Training and Consulting LLP to introduce and scale Virtuosi® across the Indian biopharmaceutical market.

Virtuosi helps biopharmaceutical manufacturers to solve one of their most critical operational challenges—the readiness of the workforce to perform in high-risk, high-complexity GMP environments—by building and sustaining operational capability across the employee lifecycle.

Under this agreement, Vienni will be QxP’s exclusive partner for Virtuosi in India, leading market engagement, client identification, and commercial activities.

Vi’eNnI® TRAINING & CONSULTING LLP: Enabling Scalable Training Excellence Across India

Vi’eNnI® is a recognized leader in pharmaceutical training and capability development in India, with a strong track record in GMP education, regulatory compliance, and industry engagement. Vi’eNnI® through its association with Eduoriens Skill Development LLP and professional bodies such as Parenteral Drug Association (PDA) India, Vienni operates at the center of India’s pharmaceutical training and compliance ecosystem.

With this established network, operational credibility, and relationships across India’s leading pharmaceutical manufacturers, Vienni is uniquely positioned to drive the adoption of Virtuosi at scale across the Indian market.

“This alliance is intended to deepen, enrich, and embed the field of training. The advantage of this collaboration is expected to make learning stick, with recall much higher when a participant leaves the learning zone,” said Vishal Sharma, Co-Founder Director, Vi’eNnI® TRAINING & CONSULTING LLP

“This marks the beginning of driving innovation and shaping outcomes that matter. Together, we forge a partnership that speaks the language of impact, influence, and enduring progress for teaching-learning & implementation,” said Ivy Louis, Founder Director, Vi’eNnI® TRAINING & CONSULTING LLP

“Vi’eNnI®’s mission is to empower doers to excel in their craft. This association with QxP for Virtuosi marks a pivotal step in advancing workforce capability and highlighting the strategic value of immersive training in India. We are proud to continue driving this mission forward.”

“We are honored to partner with Vi’eNnI® , a highly respected organization with deep roots in the Indian pharmaceutical industry,” said Crystal Mersh, Chief Executive Officer of Quality Executive Partners, Inc. “Together, we are enabling broader access to Virtuosi in a way that allows clients to build and sustain the knowledge, skills, and behaviors required to perform under real operating conditions. This embeds compliance and capability into daily execution in order to deliver high quality medicines to patients around the world.”

Virtuosi by QxP: Advancing Workforce Capability in India’s Globally Critical Pharmaceutical Hubs

India is one of the most critical pharmaceutical manufacturing markets globally and is poised for significant growth in the coming years, particularly across biologics, biosimilars, and advanced therapies. As manufacturers expand into more complex product categories and face increasing scrutiny from global regulatory agencies—including the U.S. Food and Drug Administration (FDA) and European Medicines Agency (EMA) —the ability to rapidly build, standardize, and sustain a high-performing, inspection-ready workforce has become a strategic priority.

cGMP experts at QxP created Virtuosi to address this exact challenge. Virtuosi is an immersive workforce readiness program accredited by the International Accreditors for Continuing Education and Training (IACET), aligning with globally recognized standards for continuing education and distinguishing it as the only virtual reality–based training program to achieve such accreditation.

Combining virtual reality interactive experiences with digital course content, Virtuosi enables professionals to practice critical manufacturing and quality processes—such as aseptic operations, microbiology, and advanced therapies—in realistic, risk-free environments. The platform includes over 100 hours of education, 56 technical courses, and 20 immersive VR experiences, and is available in seven languages—English, French, German, Italian, Mandarin, Spanish, and Swedish—to support global workforce standardization. Virtuosi helps organizations reduce human error, accelerate time to competency, and improve compliance and operational performance across global pharmaceutical operations.

By shifting training from passive instruction to experiential learning, Virtuosi helps reduce time to competency and human error, improve inspection readiness, and drive measurable quality outcomes which translates directly to revenue protection and growth. This partnership strengthens not only the competitiveness of individual organizations, but also the long-term resilience, regulatory standing, and global leadership of India’s pharmaceutical sector.

About Quality Executive Partners, Inc.® (QxP)

Quality Executive Partners, Inc. (QxP) is a premium CGMP consulting firm focused on solving complex operational and regulatory challenges in pharmaceutical manufacturing. QxP services pharmaceutical manufactures and CDMOs globally across all major modalities – OTC, oral solid dosage, sterile, biologics, ATMPs, clinical-stage manufacturing, and combination products. We support clients throughout the product lifecycle, including clinical operations, commercial readiness, regulatory strategy, quality transformations, and remediation. Through our ‘Teach and Do®’ model, QxP embeds senior GMP experts / former regulators into day-to-day operations to execute alongside client teams and build internal capability. This model ensures solutions are effective in practice, sustainable, and directly reduce operational risk. .

About Vi’eNnI®

Vi’eNnI® Training and Consulting LLP is a pharmaceutical training and consulting organization based in Bengaluru, India, focused on advancing workforce capability, regulatory compliance, and operational excellence across the life sciences sector, for the past 16 years. The company delivers targeted training and consulting services across GMP, quality systems, aseptic processing, microbiology, and inspection readiness, competency and culture building initiatives, helping organizations strengthen performance, consolidate efficiency and achieve sustainable compliance. Known for its practical, implementation-focused approach, Vi’eNnI® enables pharmaceutical and biotechnology companies to translate training into measurable improvements on the shop floor, supporting continuous improvement and long-term capability development across India’s pharmaceutical industry with a variety of options and tools.

Media Contact (Global)
Robin Mersh
SVP, Virtuosi Sales
Quality Executive Partners, Inc.
Email: RobinMersh@QualityExecutivePartners.com
Phone: (+1) 678-496-7503

Media Contact (India)
Ivy Louis
Founder-Director
Vi’eNnI® Training and Consulting LLP
Email: Ivy_louis@vienni.com
Phone: +91 9986821045
WhatsApp: +91 9986821045

Vi’eNnI® & Virtuosi® are registered trademarks for VIENNI & Quality Executive Partners, Inc., respectively.

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