IMD World Competitiveness Booklet 2023

Competitiveness Country Profiles

Saudi Arabia Competitiveness Trends – Overall

OVERALL PERFORMANCE (64 countries)

BASIC FACTS

Rank

2019

2020

2021

2022

2023

Capital Land area (square km '000)

Riyadh

2.150 2022 3,750 2022

17

Exchange rate (per $)

24

24

26

Population - market size (millions) 34,79 2022 22 Gross Domestic Product (GDP) (US$ billions) 1.108,1 2022 16 GDP (PPP) per capita (US$) 58.008 2022 21 Real GDP growth (%) 8,7 2022 02 Consumer price inflation (%) 2,47 2022 03 Unemployment rate (%) 4,77 2022 30 Labor force (millions) 14,57 2020 24 Current account balance (% of GDP) 13,60 2022 07 Direct investment stocks inward ($bn) 261,1 2021 25 Direct investment flows inward (% of GDP) 2,22 2021 39

32

CHALLENGES IN 2023

• Continue efforts to promote renewable energy and reduce carbon emissions. • Close the gap between the output of higher education and the requirements of the job market. • Ongoing government endeavors to achieve the targets of Saudi 2030 vision throughout all economic, social, and environmental aspects. • Continue efforts to increase productivity, inclusiveness, and sustainability among all economic sectors. • Enhance the digital transformation and future readiness of services in public and private sectors.

PROVIDED BY: NCC, National Competitiveness Center

COMPETITIVENESS LANDSCAPE

Economic Performance Government Efficiency

Business Efficiency

Infrastructure

Domestic Economy

International Trade

International Investment Employment Prices

Public Finance Tax Policy

Institutional Framework Business Legislation

Societal Framework

Productivity & Efficiency Labor Market Finance

Management Practices Attitudes & Values

Basic Infrastructure

Technological Infrastructure Scientific Infrastructure

Health & Environment Education

2

2

3

6

9

10

11

12

15

17

19 18

19

20

26

37

38

43

46

48

PEER GROUPS RANKINGS EUROPE - MIDDLE EAST - AFRICA (41 countries)

POPULATIONS > 20 MILLION (27 countries)

2019

2020

2021

2022

2023

2019

2020

2021

2022

2023

4

12

15

16

8

17

9

20

10

13

105