Saudi Arabia is undergoing one of the most significant economic transformations in the world. Dubbed Vision 2030, the Kingdom is working to modernize and diversify virtually every sector of the Saudi economy while developing an innovative workforce.
Saudi public and private entities are looking to bring world-leading technology, products, and services to participate in these economic reforms, creating significant opportunities for Utah businesses. With a GDP of $684 billion, Saudi Arabia is the largest economy in the Arab World and has significant influence and commercial ties throughout the Middle East, North Africa, and South Asia. Saudi Arabia is the second-largest U.S. export market in the Gulf region and a major importer of U.S. services.
The Giga Projects, listed below, are a keystone of Vision 2030. They include a broad array of developments and mega-projects designed to transform Saudi Arabia into a global hub for business, travel, finance, and innovation.
Wake up early on April 29 to tune in at 7:30 am Utah time, 4:30 pm Riyadh time to connect with the Saudi Ministry of Investment and leaders from the Giga Projects. Understanding these projects will enable Utah businesses to calibrate their business development efforts in order to converge with Saudi Arabia’s strategic direction.
The Giga Projects:
AMAALA will establish a new ultra-luxury tourism destination on the pristine north-western coast of Saudi Arabia specialized in wellness, health and meditation. AMAALA represents a unique and transformational luxury experience where full-fledged wellness tourism is integrated alongside a curated mix of arts, culture, and sports offerings that are individually tailored for the ultra-luxury lifestyle, including the availability of a fashion scene, healthy-living services, and year-round sea expeditions.
NEOM is a smart city that will introduce a new model for urban sustainability and be a place that is focused on setting new standards for community health, environmental protection, and the effective and productive use of technology. NEOM will include towns and cities, ports and enterprise zones, research centers, sports and entertainment venues, and tourist destinations. It will be the home and workplace for more than a million citizens from around the world.
THE RED SEA
The Red Sea Project is the world’s most ambitious luxury tourism development, offering an exclusive experience of unparalleled diversity for discerning global travelers. The site encompasses an archipelago of more than 90 pristine islands, miles of sweeping desert and dramatic mountain landscapes.
Qiddiya will be the capital of Entertainment, Sports, and the Arts in Saudi Arabia, an integrated destination offering immersive experiences and memorable moments of delight. Qiddiya is being built around five cornerstones: Parks & Attractions, Sports & Wellness, Motion & Mobility, Arts & Culture, and Nature & Environment. The cornerstones are supported by a Real Estate & Community Services unit, which will create a thriving community with 5,000 residences.