Al-Falih: Unemployment falls to 7.5% and GDP grows to 4.7 trillion
Minister of Investment, Engineer Khalid bin Abdulaziz Al-Falih, revealed historic figures reflecting the radical transformation taking place in the Saudi economy, announcing a decrease in the unemployment rate in the Kingdom from 13% to about 7.5%, an achievement that reflects the success of the economic policies and localization programs adopted by the state in recent years.
A qualitative leap in GDP and investment
During the government press conference, Al-Falih explained that the Kingdom's GDP had witnessed a remarkable leap in less than ten years, rising from 2.6 trillion riyals to 4.7 trillion riyals. This significant increase is a direct result of the Kingdom's Vision 2030 programs, which focused on diversifying income sources and reducing reliance on oil as the sole driver of the economy, thus strengthening the Kingdom's financial position regionally and internationally.
In discussing investment attractiveness, the minister noted that foreign direct investment inflows reached SAR 119 billion in 2024, while total gross fixed capital formation amounted to SAR 1,441 billion. He emphasized that these figures reflect the international community's confidence in the Saudi economy, with the number of foreign investors in the Kingdom reaching approximately 62,000, demonstrating the success of legislative and regulatory reforms that have facilitated the business environment.
Labor market and women's empowerment
Regarding the labor market, the Minister of Investment confirmed the creation of 800,000 jobs in the Saudi economy, including 150,000 high-quality jobs in the financial sector alone. This figure indicates a shift in the types of jobs available, with a focus on high-value-added sectors.
Al-Falih also highlighted the remarkable progress in women's empowerment, noting the doubling of women's contribution to the Saudi economy. This growth in women's participation is considered one of the most important achievements of the Vision, as women's employment has shifted from a social empowerment issue to a fundamental pillar of economic development, contributing to increased productivity for Saudi families and bolstering local purchasing power.
The importance of the government press conference
This announcement comes as part of the government press conference scheduled for Monday, January 26, 2026, which serves as a strategic communication platform between officials, citizens, and the media. During the conference, the minister is expected to provide further details on investment achievements and their direct impact on quality of life, as well as an overview of the future directions of the Kingdom's investment system and answer journalists' questions about the next steps to enhance the Kingdom's position as a global investment destination.
