Science & Technology

Saudi Arabia Achieves 2nd Place Globally in IMD Digital Competitiveness

Saudi Arabia excelled digitally, achieving second place globally in key technical indicators, according to the Global Competitiveness Yearbook by the International Institute for Management Development (IMD).

The Kingdom ranked second globally in company digital transformation and technology development and application. It was first in the number of Internet users, second in financing technical development, and fourth in supporting public-private partnerships for technical development.

These achievements in the technology sector are due to the wise leadership’s support and empowerment, enhancing the Kingdom’s digital position. The sector’s continuous development  have made it a key source of support for the Kingdom’s economic sectors.

The Kingdom achieved rank 16 globally out of 67 of the world’s most competitive countries, advancing one rank in the 2024 edition due to improved business legislation and infrastructure. Moreover, this progress highlights the Kingdom’s commitment to fostering a business-friendly environment and enhancing its economic landscape. Key reforms in regulatory policies and investment in state-of-the-art infrastructure have driven this advancement. Strategic initiatives to diversify the economy have also bolstered the Kingdom’s global position.

Authorities are continuously streamlining business operations and attracting foreign investment, which is expected to further elevate the Kingdom’s competitive standing in the coming years.

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