For those who haven’t heard, Saudi Arabia’s Women are Making Impressive Inroads into the National Economy

Vision 2030 is a comprehensive plan aimed at diversifying the Saudi economy and reducing its dependence on oil. It encompasses various aspects of societal and economic development.

Regarding the inclusion of women in the workforce, Vision 2030 acknowledges the importance of increasing women’s participation in the economy to achieve sustainable development. Some key points related to women in the workforce include:

  1. Increasing Employment Opportunities: The vision aims to provide more job opportunities for women in various sectors. This involves encouraging women to pursue careers in fields traditionally dominated by men. By 2022, the number of women in the workforce increased to 36%, up from just 19% in 2016.
  2. Enhancing Women’s Skills: There is a focus on improving the education and skills of women to enable them to participate more actively in the workforce. Currently, 57% of new graduates in Saudi Arabia are women, many of whom are in the engineering, science and medical fields, as well as law and business.
  3. Empowering Women: Vision 2030 aims to empower women by removing barriers that hinder their full participation in economic activities. This includes addressing social and cultural norms that may limit women’s choices in education and employment. Discrimination against accessing financial services, including incentives, grants, and an increase in women-friendly tech hubs and incubators, are key to this strategy.
  4. Supporting Women Entrepreneurs: The vision recognizes the potential of women in entrepreneurship and aims to support and encourage women to start their own businesses.
  5. Family-Friendly Policies: Efforts are made to introduce policies that support work-life balance, making it easier for women to manage both their professional and personal responsibilities.

Saudi Arabia, long recognized for its oil wealth, is undergoing a remarkable transformation, opening up diverse opportunities for entrepreneurs. Embarking on the ambitious Vision 2030, the country is actively diversifying its economy, embracing sectors like entertainment, tourism, technology, and sports. This evolution presents a dynamic landscape for entrepreneurs, with a young and tech-savvy population, a growing business ecosystem, and a commitment to sustainability. But what are the key drivers of this explosion in entrepreneurship in Saudi Arabia?