Digital economy makes up 16% of Saudi Arabia’s GDP in 2024

 



Digital economy makes up 16% of Saudi Arabia’s GDP in 2024

December 31, 2025


The share of the digital economy in Saudi Arabia’s gross domestic product (GDP) recorded an increase of 0.4 percent reaching 16 percent during the year 2024 compared with 15.6 percent in 2023.

The share of the digital economy in Saudi Arabia’s gross domestic product (GDP) recorded an increase of 0.4 percent reaching 16 percent during the year 2024 compared with 15.6 percent in 2023.


Saudi Gazette report


RIYADH —The share of the digital economy in Saudi Arabia’s gross domestic product (GDP)recorded an increase of 0.4 percent reaching 16 percent during the year 2024 compared with 15.6 percent in 2023. This was revealed in the results of the Digital Economy Survey bulletin for the year 2024.



The contribution of the core digital economy stood at 2.7 percent, while the narrow digital economy accounted for 2.4 percent. The broad digital economy represented the largest share at10.9 percent of GDP.



The bulletin stated that operating revenues of the information and communications technology (ICT) sector reached SR249.8 billion in 2024, led by wired and wireless telecommunications activities with revenues of SR133.9 billion, followed by computer programming activities with revenues of SR31.1 billion.



Operating expenditures of the sector amounted to SR122.2 billion, while compensation of employees reached SR29.2 billion, with wired and wireless telecommunications activities topping the list at SR16.1 billion.



Regarding foreign trade, the survey results revealed an increase in imports of ICT goods from SR54.9 billion in 2023 to SR67.9 billion in 2024, a 23.5 percent growth, led by communications equipment valued at SR36.8 billion. The value of exports and re-exports of ICT goods rose to SR25.8 billion, up from SR11.8 billion in 2023, representing 118 percent growth.

Comments

Post a Comment

Popular posts from this blog

Saudi Arabia raises white land tax to 10%, introduces annual levy on vacant properties

  May 01, 2025 The amendments unify the tax application stages, with the annual tax now covering individual or combined landholdings of 5,000 square meters or more within designated urban zones. Saudi Gazette report RIYADH —  Saudi Arabia has approved amendments to its White Land Tax Law, raising the annual levy on undeveloped land from 2.5% to 10% of its value and introducing, for the first time, an annual tax on long-vacant properties without justified use. The changes, passed during Tuesday’s Cabinet session, are aimed at boosting property development and increasing housing supply, as the government works to address rising real estate prices. The Ministry of Municipal and Rural Affairs and Housing announced plans to offer housing units across various regions in partnership with private developers, priced between SR250,000 and SR1.2 million. The initiative targets raising Saudi homeownership to 66% this year, according to Minister Majed Al-Hogail during a recent government p...
Read more

Commerce Ministry unveils updated digital commercial registration with QR code access

May 25, 2025 Commerce Ministry unveils updated digital commercial registration with QR code access Saudi Gazette report RIYADH — The Ministry of Commerce has introduced a redesigned digital commercial registration (CR) certificate for businesses in Saudi Arabia, featuring a more streamlined format and improved data accessibility. The updated CR now consists of a single-page electronic certificate containing all relevant business information. Users can instantly access detailed data by scanning a QR code displayed on the left side of the certificate. This update coincides with the implementation of the new Commercial Registry Law and its executive regulations. Among the key changes is the transition to a unified national CR per establishment, consolidating all activities under one license regardless of geographic location within the Kingdom. The revised system also eliminates the traditional expiration date for the CR. Instead, businesses are now required to electronically confirm their...
Read more

MHRSD: Minimum 10-day paid leave mandatory for employees performing Hajj for first time

 May 01, 2025 The Ministry of Human Resources and Social Development clarified that the Labor Law allows employees to avail of paid leave to perform Hajj once in their service period if they have not previously performed it. The Ministry of Human Resources and Social Development clarified that the Labor Law allows employees to avail of paid leave to perform Hajj once in their service period if they have not previously performed it. Saudi Gazette report RIYADH — The Ministry of Human Resources and Social Development emphasized that Hajj leave must not be less than 10 days and not more than 15 days, including Eid al-Adha holiday, for those employees performing the annual pilgrimage of Hajj for the first time. In a statement marking the beginning of the Hajj season, the ministry clarified that the Labor Law allows employees to avail of paid leave to perform Hajj once in their service period if they have not previously performed it, provided they have completed at least two consecutive...
Read more