Understanding The Implications Of Saudi Arabia’s Youth Boom

A recent census states that Saudi’s population is now at 32.2 million, with a whopping 63% of them being under the age of 30. This gives us a glimpse into their demographics and the challenges that arise with such a youthful population. Saudi Arabia has been undergoing some major changes in recent years, with the government implementing reforms to further modernize the country and attract more foreign investment.

Economy and Planning Minister Faisal Al-Ibrahim explained at a press conference in Riyadh, that the latest census is Saudi Arabia’s most insightful and accurate census in the Kingdom’s history. “Its outputs will be a key pillar for planning and decision-making, and supporting the investment environment in the kingdom,” Al-Ibrahim states. The census will be a crucial tool for planning and decision-making and will support the investment-driven environment in the kingdom.

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The census revealed that Saudi Arabia’s population has grown by a staggering 34.2% since 2010, with an average annual population growth of 2.5%. These figures highlight the challenges facing Crown Prince Mohammed bin Salman in his ambitious plans to diversify the economy away from oil and create 10 million jobs for Saudi nationals.

Prince Mohammed has launched a massive transformation plan back in 2016, named Vision 2030. The plan aims to develop local industries, promote tourism, and create a more business-friendly environment in the kingdom. However, the large young population of Saudi Arabia presents a unique challenge in achieving these goals.

Despite the challenges, the Saudi government remains committed to achieving the Vision 2030 goals and transforming the kingdom’s economy. With the insights gained from the latest census, the government will be better equipped to make informed decisions and plan for the future.

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