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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

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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.

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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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Lead Glass Pro Expands Nationwide Installation Services, Simplifying Radiation Shielding Projects for Healthcare Facilities

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Single-source solutions help healthcare facilities and contractors eliminate delays, coordination issues, and inspection risks.

LAGUNA BEACH, Calif., June 15, 2026 /PRNewswire/ — Lead Glass Pro, a leading supplier of radiation shielding products, has announced the expansion of its turn-key installation services across 26 states, providing healthcare facilities, imaging centers, veterinary hospitals, and contractors with a simpler, faster, and more reliable path to completing radiation-shielded construction projects.

For years, facility owners and general contractors have faced a common challenge when building x-ray rooms, CT suites, cath labs, and other imaging environments: coordinating multiple vendors, installers, shielding materials, and subcontractors while hoping everything comes together correctly at inspection. The result is often project delays, change orders, failed inspections, and costly rework.

Lead Glass Pro’s new turn-key installation service was designed to eliminate that uncertainty.

Rather than sourcing shielding materials from one supplier, hiring a separate installer, and relying on contractors who may have little experience with radiation shielding, customers can now work with a single company that provides both the materials and installation expertise required to complete the project correctly.

“Our goal is simple: make radiation shielding easy,” said a spokesperson for Lead Glass Pro. “Healthcare providers and contractors already have enough to manage. They shouldn’t have to worry about whether the shielding was installed correctly, whether critical components were missed, or whether the project will pass inspection. We provide a complete solution backed by experience, documentation, and accountability.”

The service covers a wide range of healthcare construction projects, including medical imaging rooms, x-ray rooms, CT suites, cath labs, surgical centers, urgent care facilities, and veterinary imaging environments.

The expansion builds on Lead Glass Pro’s reputation for rapid fabrication, responsive customer service, and comprehensive radiation shielding solutions, including lead glass windows, lead-lined doors and frames, lead-backed drywall, shielding accessories, and custom radiation protection products.

Customers also benefit from several industry-leading protections, including:

10-Year Warranty100% Compliance GuaranteePrice MatchingFast fabrication on many standard productsNationwide support and project coordination

As healthcare construction continues to grow nationwide, Lead Glass Pro believes the demand for specialized installation expertise will continue to increase.

By combining material supply and installation into a single-source solution, the company aims to help customers reduce risk, simplify project management, and move from construction to inspection with confidence.

For more information about Lead Glass Pro’s turn-key installation services, visit LeadGlassPro.com.

About Lead Glass Pro

Lead Glass Pro is a nationwide supplier of radiation shielding products and installation services for healthcare, veterinary, industrial, and government facilities. The company specializes in lead glass windows, lead-lined doors and frames, lead-backed drywall, shielding accessories, and complete radiation protection solutions designed to help projects meet compliance requirements while reducing construction complexity.

Media Contact:
Lead Glass Pro
Email: sales@leadglasspro.com
Phone: (800) 506-9972

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SOURCE Lead Glass Pro

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Trutankless® More Than Doubles Sales as Demand for GEN3 Continues to Accelerate

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Consumer adoption and contractor demand for GEN3 technology drive more than 118% year-over-year sales growth

SCOTTSDALE, Ariz., June 15, 2026 /PRNewswire/ — Trutankless®, a leader in smart electric tankless water heating technology, announced a strong start to 2026 as growing demand from homeowners, plumbers, contractors, and wholesale distributors helped drive sales growth of more than 118% compared to the same period last year.

The company reported first-quarter net sales of $940,470, more than double the $430,090 reported during the first quarter of 2025.

The growth reflects increasing adoption of the company’s GEN3 Smart Tankless Water Heater, as consumers seek energy-efficient alternatives to traditional tank water heaters and contractors look for reliable, easy-to-install solutions that deliver long-term value.

“More than doubling our sales year over year is a strong signal that the market is embracing smart tankless technology,” said Guy Newman, CEO of Trutankless®. “Homeowners want endless hot water, lower energy consumption, and better control over their home’s systems. At the same time, plumbers and contractors are looking for products they can confidently recommend to customers. GEN3 is proving it can deliver on both.”

The company’s GEN3 platform combines on-demand hot water with advanced monitoring capabilities and compatibility with recirculation systems and LeakSecure® technology, making it an attractive option for both new construction and retrofit projects.

As demand continues to grow, Trutankless is expanding its network of wholesale distribution partners and contractor relationships across the country, with particularly strong momentum throughout Arizona, Texas, and Florida.

To support that growth, Trutankless® recently expanded operations with a new Phoenix-based production, engineering, and training facility. The company is also continuing to invest in product innovation, including the development of enhanced remote monitoring capabilities through a customizable mobile app and control platform.

“For contractors, success comes down to customer satisfaction and trust,” Newman added. “The more homeowners experience the benefits of smart tankless water heating, the more demand we’re seeing at the contractor and distributor level. That’s creating a powerful cycle of growth that we’re excited to build on.”

About Trutankless®

Trutankless® is an innovator in electric tankless water heating technology, focused on delivering energy-efficient, reliable, and connected solutions for residential and commercial applications. The company’s smart electric tankless water heaters provide endless hot water on demand while helping reduce energy consumption and maintenance requirements. Trutankless® products are available through wholesale plumbing distributors and dealers nationwide.

For more information, visit www.trutankless.com.

Forward-Looking Statement: The statements in this press release regarding any implied or perceived benefits from the release by Trutankless® of its line of electric tankless water heaters or added key strategic sales and distribution partners are forward-looking statements. Such statements involve risks and uncertainties, including, but not limited to, risks of the key strategic sales and distribution partners ability to sell our product, and effects of legal and administrative proceedings and governmental regulation, especially in a foreign country, future financial and operational results, competition, general economic conditions, and the ability to manage and continue growth. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual outcomes may vary materially from those indicated. Important factors that could cause actual results to differ materially from the forward-looking statements we make in this news release include the introduction of new technology, market conditions, and those set forth in reports or documents we file from time to time with the SEC. We undertake no obligation to revise or update such statements to reflect current events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.

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SOURCE Trutankless

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Roam Charging launches electric vehicle charging hub at David Lloyd Clubs in Hatfield

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CRAWLEY, England, June 15, 2026 /PRNewswire/ — Roam Charging, a leading provider of electric vehicle (EV) charging solutions, has announced the launch of its latest EV charging installation at David Lloyd Clubs in Hatfield, marking another milestone in its growing partnership with David Lloyd Clubs to deliver a major EV charging rollout across the UK.

The Hatfield launch, located at Hatfield Business Park, will take place on Thursday 18th June from 8.00am until 4.00pm, with Roam and David Lloyd teams on site to welcome members, showcase the new charging facilities and support drivers in getting set up on the Roam app. On the day, visitors can expect hands-on assistance, the opportunity to ask questions about EV charging as well as free charging throughout the launch event.

This launch follows a successful activation at David Lloyd Clubs Purley, where Roam hosted a similar event that resulted in strong engagement with members and sustained high charger utilisation long after launch day. Roam’s events focus on education, accessibility and creating a seamless charging experience for those using the health club’s car park.

Commenting on the launch, James Randall from Roam, said:

“Our partnership with David Lloyd Clubs is about making EV charging simple, convenient and part of everyday life. The success of our Purley launch showed just how valuable it is to be on-site, speaking directly with members and helping them get set up from day one. We’re excited to bring the same experience to Hatfield and continue supporting David Lloyd Clubs members on their transition to electric driving.”

As part of the partnership, David Lloyd Clubs members receive a free Roam membership, normally priced at £7.20 per month. This benefit provides access to reduced charging tariffs:

AC chargers: 51p per kWh (standard rate 59p)DC chargers: 64p per kWh (standard rate 72p)

Roam’s event at David Lloyd Clubs, Hatfield Business Park, Hatfield AL10 9AX, will take place from 8.00am until 4.00pm on Thursday 18th June.

Roam’s app can be downloaded for free by following this link.

About Roam

Roam is dedicated to transforming the EV charging experience with a comprehensive suite of cutting-edge charging solutions designed for drivers, businesses and communities. With a focus on accessibility, reliability and scalability, Roam provides smart charging stations, intuitive software, and customer-first services that empower the transition to electric mobility. From high-power public chargers to flexible commercial installations, Roam continues to expand its network and support the global shift toward cleaner transportation.

For more information, visit https://www.roamcharging.com.

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