Saudi Arabia has achieved a major economic milestone by surpassing $1 trillion in GDP, positioning itself as the 19th largest economy globally. With a projected 4.1% GDP growth in 2024, driven by rapid expansion in non-oil sectors, the Kingdom is emerging as a prime destination for international investors. For entrepreneurs and corporations considering company formation in Saudi Arabia, the opportunities have never been more promising.
Aligned with the goals of Vision 2030, Saudi Arabia is transforming its economy by reducing reliance on oil and welcoming foreign direct investment across a range of industries. At ABREEM, we specialize in streamlining the business setup process and helping clients capitalize on the Kingdom’s evolving market.
If you’re looking to establish a presence in the region, here are the top 5 sectors to invest in that offer high potential for growth and returns.
1) Construction: Shaping the Kingdom’s Future
Saudi Arabia’s construction industry is experiencing rapid growth, fueled by mega-projects such as NEOM Future Cities, The Line, and the Red Sea Project. By 2024, the sector is projected to reach a market value of $70.33 billion, with sustained expansion in the coming years. For entrepreneurs considering company formation in Saudi Arabia, the construction sector represents a highly lucrative opportunity.
Aligned with Vision 2030, the Kingdom is prioritizing infrastructure development and the creation of smart cities, making construction one of the most dynamic sectors for investment. From commercial and residential buildings to smart urban developments and renewable energy projects, there are numerous entry points for businesses ready to contribute to Saudi Arabia’s ambitious transformation.
Why Invest in Saudi Arabia’s Construction Sector?
Saudi Arabia is home to some of the world’s most ambitious construction projects, offering unmatched potential for foreign companies, contractors, and developers. With ABREEM by your side, you can seamlessly navigate the business setup process and position your company at the heart of this monumental growth.
2) Tourism: The New Global Destination
Saudi Arabia’s tourism industry is experiencing a historic transformation, driven by Vision 2030 and government-backed initiatives like the Instant E-Visa and liberalized foreign investment regulations. The Kingdom aims to welcome 150 million visitors by 2030, positioning itself as a premier global tourism destination.
Upcoming international events such as the World Expo 2030 and the FIFA World Cup 2034 are expected to significantly accelerate growth in the tourism sector, making now the ideal time for businesses and entrepreneurs to establish a company in Saudi Arabia.
Key Investment Opportunities:
Hotel and resort development
Event and entertainment management
Cultural and heritage tourism
Wellness and luxury travel experiences
Why Invest in Saudi Arabia’s Tourism Industry?
With the government’s strong commitment to diversification and global outreach, Saudi Arabia offers unparalleled potential in the tourism sector. At ABREEM, we help investors navigate the process of company formation in Saudi Arabia, ensuring compliance and strategic entry into this booming market.
3) Information and Communication Technology (ICT)
With a market value exceeding $40.9 billion, Saudi Arabia’s Information and Communication Technology (ICT) sector is at the heart of the Kingdom’s ambitious Vision 2030 agenda. The government’s focus on building smart cities, advancing e-government services, and enhancing digital healthcare is unlocking vast opportunities for foreign tech investors.
Saudi Arabia is rapidly evolving into a regional technology hub, leading the Middle East in cloud computing, cybersecurity, AI, and 5G infrastructure—making it a fertile ground for innovation and investment.
Key Investment Opportunities:
Cloud computing infrastructure and services
Cybersecurity and data protection solutions
Artificial intelligence and automation
Smart city technologies
Digital health platforms and e-services
Why Invest in Saudi Arabia’s Tech Sector?
As Saudi Arabia accelerates its digital transformation, it offers long-term growth potential for international tech companies. With ABREEM as your trusted partner, you can confidently navigate the company formation process in Saudi Arabia, ensuring compliance and unlocking high-impact tech opportunities.
4) Sports: A Growing Industry with Global Reach
Saudi Arabia is rapidly emerging as a global sports hub, hosting prestigious events such as Formula 1, international boxing championships, and the upcoming 2034 FIFA World Cup. This momentum is transforming the Kingdom’s sports sector into a major driver of economic growth.
According to Vision 2030, the sports sector is projected to grow five to seven times by the end of the decade. This growth opens up exciting opportunities for foreign investors and entrepreneurs looking to establish a presence in areas like:
Key Investment Opportunities:
Professional and youth sports academies
Event management and large-scale sports coordination
Modern fitness centers and wellness facilities
Sports equipment retail and merchandising
Why Invest in Saudi Arabia’s Sports Sector?
With billions being invested in infrastructure and event planning, Saudi Arabia is setting the stage for long-term sports development. ABREEM can help you set up your sports-related business in Saudi Arabia, ensuring full compliance with local regulations and maximizing your return in this fast-growing industry.
5) Food and Beverage: Catering to Growing Demand
Saudi Arabia’s food and beverage (F&B) market is flourishing, with the sector expected to reach $23.48 billion by 2024. This growth is driven by a rapidly increasing population, rising disposable incomes, and a vibrant tourism industry that’s creating strong demand for diverse and high-quality food options.
Key Investment Opportunities:
Food production and processing
Restaurant franchises and international cuisine brands
Halal food manufacturing and exports
Organic and health-focused product lines
Why Invest in Saudi Arabia’s F&B Sector?
With evolving consumer preferences and Vision 2030 initiatives promoting tourism and lifestyle changes, the F&B sector offers immense potential for foreign investors. Whether you’re expanding a brand or launching a new venture, ABREEM can support your business setup in Saudi Arabia, helping you navigate regulations and seize emerging opportunities in this thriving market.
