Following two years of economic slowdown, GCC economies are projected to grow by 2.2% in 2021, driven by global recovery and rising oil demand. Saudi Arabia is leading the rebound, fueled by strong domestic demand and giga-project investments.
The Kingdom’s top banks have also shown improved profitability post-COVID-19, according to Alvarez & Marsal. Five years into Vision 2030, Saudi Arabia has made significant progress in economic diversification through its successful Vision Realization Programs.