Non-Oil Activities Growth 2024

Non-oil gross domestic product has become the primary narrative in Saudi macro reporting: GASTAT regularly highlights growth in services, construction, wholesale & retail, and financial activities as evidence of diversification progress under Vision 2030.

For foreign investors, sustained non-oil expansion supports demand for commercial registration, payroll, and sector licences — particularly in Technology sector, tourism, and logistics. Use Insights directory to compare sector-specific insights and link feasibility studies to Investment Law where foreign ownership rules apply.

Planning takeaway

Non-oil growth does not eliminate cyclicality in oil-linked fiscal revenue; stress-test scenarios should still include conservative oil price assumptions even when operating purely in domestic services.