In the early 21st century, holographic recreations were enough to imagine a futuristic urbanism, but now this vision is becoming a reality in Saudi Arabia. The country is undergoing a transformation led by Mohamed bin Salmán, with the goal of becoming a hub for tourism, technology, and global trade.
The Saudi government has launched a $3.2 trillion strategy to shift from being reliant on oil to embracing modernity, technology, and financial progress. Vision 2030 is a key part of this plan, aiming for significant economic and social transformation. A major objective is to make Tadawul, the local stock exchange, a global financial center. Historically restricted to foreign investors, recent changes are opening up the market and attracting international attention.
Tadawul’s inclusion in international indices and the increase in IPOs are signs of growing interest in the Saudi stock market. Privatizations and the listing of public companies are boosting market activity and transforming Tadawul into a significant financial center. Multinationals have the opportunity to do business in Saudi Arabia as part of this transformation process.
Despite a relatively high price/earnings ratio, Tadawul is attracting attention from international investors looking to take advantage of the market’s growth potential. The stock market’s role in driving modernization and transparency in Saudi corporations adds to its appeal. As Saudi Arabia continues on its path of transformation, the stock market remains a key player in the country’s economic future
