Saudi Arabia

Demographics

As of 1 January 2021, the population of the Kingdom of Saudi Arabia was estimated to be 35,192,038. This is an increase of 1.10 % or 378,167 people compared to a population of 34,813,871 in the middle of 2020 according to the data of the United Nations.

The population increased by 196,893 due to external migration. The gender ratio of the total population was 1.233 (1,233 males per 1,000 females) which is higher than global ratio of approximately 1,016 (1,016 males to 1,000 females) as of 2021.

According to Country Meter’s estimation the age structure was distributed in 10,405,040 young people under 15 years old (5,327,807 males & 5,077,233 females), 23,891,903 people between 15 and 64 years old (13,497,819 males & 10,394,084 females) and 1,045,063 people above 64 years old (546,741 males & 498,322 females) at the beginning of 2021.

The Kingdom of Saudi Arabia is divided in 13 regions and 136 governorates. The population of the three largest regions Makkah, Riyadh and Dammam accounted for over 68 percent of the population.

Economy

The Kingdom of Saudi Arabia was an underdeveloped country until the early 20th century. The country had a poor economic landscape, dominated by barren deserts, camel caravans, isolated date palms and Bedouin lifestyle.

The exceptions were a few coastal areas such as Jeddah on the west-coast because of pilgrims for the purpose of visiting Makkah and Madina as well as Qatif, Jubail and Al-Hasa on the east-coast due to long-time fishing, pearling and date-farming traditions.

The modern history of the country began in 1930s with the discovery of oil. Over a relatively short-span of time the economy has made rapid progress. From a poor country with limited resources, it emerged as a leading economic powerhouse in the Middle East. From a negligible GDP in the early 20th century, the country’s real per capita GDP (in terms of purchasing power parity) reached $56,817 in 2019.

Saudi Vision 2030

The vision is a guide for economic, social, human and environmental development of the country in the coming years. It aims at transforming the Kingdom of Saudi Arabia into a vibrant society, a thriving economy and an ambitious nation by 2030, capable of sustaining its own development and providing for a high standard of living for all of its people for generations to come. The aims and intentions of Business Start Up Saudi Arabia are in line with Saudi Vision 2030 and the plans of the Kingdom of Saudi Arabia.