Economic Landscape Analysis: A Comprehensive Study of Saudi Arabia Macroeconomic Indicators
Population, Literacy Rate, Household Size and Income, Employment and Unemployment Rate
July 2023
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About the Report
About the Report
Country Overview:
Saudi Arabia is spread over approximately 2,149,690 square kilometers and has a population exceeding 35 million as of 2023. While the total population is substantial, the distribution is highly uneven, with the majority of residents concentrated in a few urban areas. The cities of Riyadh, Jeddah, Mecca, and Medina are the most populous, collectively hosting approximately 60% of the total population
Regions like the Northern Borders, Al Jawf, and Najran each house less than 2% of the national population. These demographic disparities result from historical, geographical, and economic factors, including the centrality of the Hejaz region in Islamic history, the presence of oil reserves in certain areas, and the development of Riyadh as the political and administrative capital.
KSA Macroeconomic Assessment Analysis
- KSA has an extensive coastline stretching about 2,640 kilometers along the Red Sea and Arabian Gulf. This geographical advantage provides opportunities for major economic activities.
- Urban areas like Riyadh and the Hejaz region serve as the main economic engines, contributing significantly to the GDP and generating the majority of job opportunities and income. Key economic sectors in these regions include oil and gas, real estate, finance, and religious tourism, driven by the Hajj and Umrah pilgrimages.
- Areas like the Northern Borders and Al Jawf are predominantly agrarian, with limitations in water and arable land resources hindering robust economic growth. Despite these challenges, they contribute to the national economy by providing agricultural products, such as dates and wheat.
- Vision 2030 places a strong focus on education and workforce training. The plan aims to equip the Saudi population with the necessary skills and knowledge to excel in a rapidly changing global economy. It is an initiative to improve the education system, promote vocational training, and enhance lifelong learning opportunities.
Key Trends by Market Segment:
By Avg Monthly Household Income: In Mecca, KSA, the average monthly household income for Saudi families has shown a steady increase over the years, reaching SAR ~19,400. This upward trend reflects positive economic growth and improved financial well-being for Saudi households in the region. On the other hand, non-Saudi households in Mecca have also experienced a gradual rise in average monthly income, reaching SAR ~15,800. This increase signifies the financial opportunities available to expatriate families living and working in the city
By Labour Force Participation Rate: In the city of Medina, Saudi Arabia, the labor force participation rates have shown distinct trends for both Saudi and non-Saudi individuals. Among non-Saudi males, the rates have been consistently high, ranging from 89.6% to 93.6%, indicating strong involvement in the workforce. This can be attributed to the city's economic opportunities, including the tourism sector, as Medina is one of the holiest cities in Islam and attracts a significant number of visitors each year.
For non-Saudi females in Medina, the labor force participation rates have shown a gradual increase, starting at 13.8% and reaching 25.6%. While these rates are relatively lower compared to males, they reflect a positive shift towards greater female workforce engagement, likely influenced by social and economic factors that have enabled more women to participate in the job market.
By Geography: In 2022, Mecca, being one of the holiest cities in Islam, experiences a significant inflow of religious tourists each year, contributing to its economic growth and development. The city's tourism sector, centered around the annual Hajj pilgrimage and Umrah, has been a major driver of economic activity. Followed by Medina and Dammam.
Medina is another important religious city in Saudi Arabia, attracting pilgrims and visitors from around the world. Similar to Mecca, the city experiences significant economic activity related to religious tourism. Investments in infrastructure, hotels, and transportation have contributed to the city's economic growth.
Dammam, located in the Eastern Province, is an important commercial and industrial hub in Saudi Arabia. The city is a major center for the country's oil and gas industry, with many oil-related companies and refineries based in the region. Dammam's strategic location on the coast of the Arabian Gulf makes it a significant port city, facilitating trade and export activities.
Recent Developments:
- Several "Giga Projects" including NEOM, Qiddiya, and the Red Sea Project are part of Saudi Arabia's strategy to diversify its economy. These ambitious projects aim to attract international investments and tourism, create jobs, and enhance the quality of life as per the objectives of Vision 2030.
- Saudi Arabia has made significant strides in digital transformation, driven by its goal to create a digital-first economy. The focus has been on enhancing digital infrastructure, fostering tech start-ups, and promoting e-governance.
- According to the 2022 census, the total population of KSA is 32.12 million with the median age of 29 years. The KSA fertility rate is 2.8. Of the total population, 58.4% are Saudis, while 41.6% are non-Saudis. Furthermore, Males make up 61.2% of the population, while females make up 38.8% of the population. The average household size of Saudis is 4.8, while the average household size of non-Saudis is 2.7.
Scope Of The Report
Scope of the Report
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KSA Macroeconomic Assessment |
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By Population |
On the basis of Age By gender By nationality By Educational Level |
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By Literacy Rate |
Male Female |
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By Household Size and Income |
Saudi Non-Saudi Average Family Income Average Individual income with income (SAR) |
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By Number of Households |
Number of Households |
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Average monthly Household income (SAR) |
Saudi Non-Saudi Saudi and Non-Saudi |
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Average monthly income (on the basis of gender) |
Male Female |
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Average monthly income of a Saudi family (On the basis of qualification) |
PHD Masters Diploma |
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Average monthly income of a Saudi family (On the basis of marital status) |
Divorced Married Never Married Widowed |
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Average per capita monthly income |
Saudi Non-Saudi Saudi and Non-Saudi |
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Average per capita monthly expenditure |
Saudi Non-Saudi Saudi and Non-Saudi |
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Breakup of the household expenditure (%), (Saudi- Non-Saudi) |
Housing, Water, Electricity, Gas, and other Fuels Miscellaneous Personal Goods and Services Food And Beverages Transport Restaurants and Hotels Furniture and Furnishings Communications Fabric, Apparel and Footwear Recreation and Culture Education Health Tobacco |
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Labor Force Participation Rate (%) |
Male - Non-Saudi Female - Non-Saudi Male - Saudi Female - Saudi |
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Percentage distribution of Employment (%) |
Male (Non-Saudi) Female (Non-Saudi) Male (Saudi) Female (Saudi) |
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Percentage distribution of Employment (%) |
Age 15 - 24 Age 25 - 34 Age 35 - 44 Age 45 - 54 Age 55+ |
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Unemployment rate by nationality (%) |
Saudi National Non-Saudi National |
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Unemployment rate by Gender (%) |
Female Male |
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Major Region |
Riyadh Al Arid Al Qirawan Al Narjis Al Yasmin Al Sahafa Al Malqa Al Izdihar Dammam Dhahran Al Khobar Jeddah Mecca Tabuk Medina Al Mohammadiyyah Al Ghadir King Fahd Al Muruj An Nafal Ar Rabi Al Khuzama Al Nakheell Hittin Al Aqiq Ar Rihab Al Khalidiyah Al Faisaliyah At Tarif Al Jadid Diriyah King Saud University Almugaider |
Products
Products
Key Target Audience – Organizations and Entities Who Can Benefit by Subscribing This Report:
- Consultants
- Investors and venture capitalists
- Research institutions and universities
- International Org. monitoring Economic development
- Financial Institution
- Economists & Financial Analysts
- Researchers
- Industry Associations
- Consulting Agencies
- Government Bodies & Regulating Authorities
Time Period Captured in the Report:
- Time Period: 2010-2022
Table of Contents
Table of Contents
1. Executive Summary
1.1 Executive Summary – KSA Macroeconomic Assessment
2. Country Overview
2.1 Country Overview of KSA
2.2 KSA Population Analysis (Population by Gender, Ethnic Composition, and Age)
2.3 Internet Population and Smart Phone Penetration
3. Infrastructural Analysis
3.1 KSA as a Trans-shipment Hub
4. KSA Macroeconomic Assessment, 2010-2022
4.1KSA Macroeconomic Assessment Segmentation, 2010-2022
4.1.1 Population by Gender
4.1.2 Population on the basis of Age
4.1.3 Population by Nationality
4.1.4 Population by Educational Level
4.1.5 Literacy Rate (%)
4.1.6 Household Size and Income
4.1.7 Number of Households
4.1.8 Average monthly Household Income (SAR)
4.1.9Average monthly income (on the basis of gender)
4.1.10 Average monthly income of a Saudi family (On the basis of qualification)
4.1.11 Average per capita monthly income
4.1.12 Average per capita monthly expenditure
4.1.13 Breakup of the household expenditure (%), Saudi – Non-Saudi
4.1.14 Labor Force Participation Rate (%)
4.1.16 Percentage distribution of Employment (%)
4.1.17 Unemployment rate by nationality (%)
4.1.18 Unemployment rate by Gender (%) By Major Region: Riyadh, Al Arid, Al Qirawan, Al Narjis, Al Yasmin, Al Sahafa, Al Malqa, Al Izdihar, Dammam, Dhahran, Al Khobar, Jeddah, Mecca, Tabuk, Medina, Al Mohammadiyyah Al Ghadir, King Fahd, Al Muruj, An Nafal, Ar Rabi, Al Khuzama , Al Nakheell Hittin, Al Aqiq, Ar Rihab, Al Khalidiyah , Al Faisaliyah, At Tarif Al Jadid Diriyah, King Saud University, Almugaider
5. Research Methodology
6. Definitions
7. Methodology
8. Hypothesis Creation
9. Estimation Process and Statistical tools
10. Limitation
11. Disclaimer
12. Contact Us
Research Methodology
Research Methodology
Step 1: Identifying Key Variables:
Ecosystem creation for all the major entities and referring to multiple secondary and proprietary databases to perform desk research around Industry level information.
Step 2: Market Building:
Collating statistics on Population of KSA over the years, penetration of marketplaces and obtained from Statistical Annual Yearbook published by public authorities of KSA, reports, journals, online articles, ministries, government associations and data from General Authority of Statistics, Human Resource Development Authority, World Bank, International Monetary Fund (IMF), and others.
Step 3: Validating and Finalizing:
The research team had then conducted CATI (Computer Assisted Telephonic Interviews) with local authorities and associations in KSA to get their insights on the factors onboard and to seek justification to the hypothesis framed by the team.
Step 4: Research output:
Our team has approached multiple Sources of information and understanded the KSA population and macroeconomics, which supported us validate statistics.
Frequently Asked Questions
Frequently Asked Questions
01 What is the labor force participation rate for non-Saudi females in Medina?
The labor force participation rate for non-Saudi females in Medina is ranging from 89.6% to 93.6% in 2022.
02 What is the average monthly income of families in Saudi Arabia?
The average monthly income of families in Saudi Arabia reached SAR 19,400 in 2022.
03 Which regions serve as the main economic engines of Saudi Arabia?
The urban areas like Riyadh and the Hejaz serve as the main economic engines, contributing significantly to the GDP and generating the majority of job opportunities and income.
04 Which cities in Saudi Arabia are most populated?
The cities Riyadh, Jeddah, Mecca, and Medina are the most populated cities of Saudi Arabia, collectively hosting approximately 60% of the total population of Saudi Arabia.
05 Which major factors are contributing to regional disparities in the population of Saudi Arabia?
Hejaz region centrality in Islamic history, presence of oil reserves and major industries in certain regions, and development of Riyadh as the national capital are the major factors contributing to regional disparities in population of Saudi Arabia.
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