Saudi Arabia’s emerging sectors see 31% growth, driven by AI
Commercial registrations in key Vision 2030 sectors surged, led by computer programming, IT, and communications, as Saudi Arabia marks its Year of AI.
Key Takeaways
AIThe Ministry of Commerce has reported significant growth in commercial registrations across promising sectors identified in Saudi Vision 2030, highlighting computer programming, information technology, and communications as leading areas. This progress coincides with the Kingdom’s Year of Artificial Intelligence.
In a statement on its X account, the ministry said that artificial intelligence technologies topped the growth rates among emerging sectors, with registrations rising by 31% to 24,552 records. The logistics services sector saw a 25% increase, reaching 32,154 registrations. Creative industries, arts, and entertainment also grew by 25%, totaling 8,650 commercial records.
The ministry added that commercial registrations in the electronic gaming industry rose by 24% to 977 records. Cybersecurity also posted a 22% increase, reaching 11,275 registrations.
According to the statement, virtual and augmented reality technologies saw a 21% growth rate, with 13,853 registrations. Amusement and gaming cities grew by 16%, reaching 9,483 records. Financial and insurance activities increased by 12% to 16,950 registrations, while e-commerce reached 52,241 records, reflecting 9% growth.
Overall, the total number of commercial registrations in Saudi Arabia has surpassed 1.9 million, including 1.3 million for sole proprietorships, 599,000 for limited liability companies, and 5,000 for joint-stock companies.