Average private-sector salaries for Saudis jump 45%: Minister of Investment Al-Falih

The average salary of Saudi nationals working in the private sector has recorded a cumulative increase of more than 45 percent, Minister of Investment Eng. Khalid Al-Falih said on Tuesday, highlighting significant progress in employment and economic diversification under Vision 2030.

Speaking at a government press conference in Riyadh, Al-Falih said the number of Saudis employed in the private sector rose to 2.48 million by the end of 2025, with job opportunities doubling in key sectors such as tourism.

He noted that the unemployment rate has fallen sharply from 13 percent to just over 7 percent, alongside a “remarkable leap” in women’s participation in the labor market. Women’s contribution to the Saudi economy has more than doubled, while approximately 800,000 jobs have been created across the national economy since 2016.

Al-Falih stressed that non-oil sectors now account for 56 percent of the total economy, while the Kingdom’s GDP has more than doubled in less than a decade, rising from SR2.6 trillion in 2016 to SR4.7 trillion in 2024.

Highlighting Saudi Arabia’s participation at the World Economic Forum, the minister said the Kingdom stood out as a confident and positive model amid global economic uncertainty, driven by a clear vision and tangible achievements.

On investment, Al-Falih said foreign direct investment inflows reached SR119 billion in 2024 and are expected to exceed SR140 billion in 2025, based on preliminary figures. Total fixed capital formation stood at SR1.441 trillion in 2024, while overall investment volume surpassed SR1.5 trillion for the first time in 2025.

He revealed that more than 700 international companies have relocated their regional headquarters to the Kingdom, with the number of foreign investors reaching 62,000. Saudi nationals now hold approximately 1.8 million commercial registrations, while foreign investments exceeded SR1 trillion in 2025.

Al-Falih said sectors such as pharmaceuticals and accounting reflect the strength and sustainability of the Saudi economy and its growing appeal as a global investment destination. He added that the Kingdom is transitioning from facilitating investment procedures to empowering specialized investors, with an updated investment strategy set to launch soon.

Looking ahead, Al-Falih said Humain is poised to become the Kingdom’s “Aramco” in the artificial intelligence sector, while three major automotive manufacturers have begun operations in Saudi Arabia, with combined production expected to reach around 500,000 vehicles in the coming years.

He also pointed to upcoming major IPOs in the Saudi capital market, particularly in the debt segment, alongside new initiatives with the Capital Market Authority and Tadawul aimed at attracting more investors.