What do today’s young people want? In our fast-changing world, understanding the desires and needs of young people is essential for any country’s success. Saudi Arabia, with its Vision 2030 plan, has made youth a top priority and has seen positive results.
On Saudi National Day, we commend Crown Prince Mohammed bin Salman for his visionary leadership in this regard.
One of the biggest concerns for young people everywhere is unemployment. In a recent survey, Saudi youth expressed strong support for economic and social reforms in the country. About 90% supported policies encouraging young graduates to work in the private sector, 91% wanted a larger role for the private sector in the economy, and 96% approved of tourism and leisure projects, which aim to create jobs and diversify the economy.
Saudi Arabia has made significant progress in reducing unemployment, particularly among young people. The overall unemployment rate is now quite low at 4.8%, and youth unemployment has been halved in two years to 16.8%. Women’s participation in the workforce has also increased, surpassing the 30% target set by Vision 2030.
Saudi Arabia has become a global economic powerhouse, not just in oil and gas but also in tourism, entertainment, technology, and renewable energy. It’s the fastest-growing economy among G20 countries, as noted by the International Monetary Fund.
With careful planning and the energy of its youth, Saudi Arabia is transforming living spaces, creating tourist destinations, and fostering development. The economy is no longer solely dependent on oil, with strong growth in non-oil sectors like retail, construction, and transportation.
The country is seen as a model by many because of its economic opportunities, quality of life, education reforms, and its unique blend of modernity and tradition.
Besides unemployment, young Saudis are concerned about corruption, living costs, economic stability, and climate change. However, they have confidence in their government’s ability to address these issues through Vision 2030.
Saudi Arabia has harnessed its youth’s potential by supporting startups, incubators, and venture capital funds. The number of small businesses, especially those led by young and female entrepreneurs, has doubled since Vision 2030’s launch.
More young people aspire to work in the private sector now, a shift from previous generations. This is in line with the World Economic Forum’s report, which predicts job growth in technology and digitalization fields in Saudi Arabia.
Saudi youth are tech-savvy, creative, and ready to embrace the digital age. They are engaged, aware, and connected to the world. Initiatives like the Mohammed bin Salman Foundation and the National Transformation Program are nurturing their skills and confidence.
These are exciting times for Saudi youth, who are poised to make a positive impact on their country and the world.
