Saudi Arabia Invests in Future with Record R&D Spending
Saudi Arabia has increased its research and development spending significantly to SR22.61 billion ($6.02 billion) in 2023. This figure represents a remarkable 17.4 percent growth compared to last year, as reported by official data.
Growth in Research and Development Personnel
The General Authority for Statistics (GASTAT) highlighted a notable increase in R&D personnel. By the end of 2023, the workforce reached 49,337, demonstrating a year-on-year rise of 12.2 percent. Among them, researchers numbered 36,832, reflecting an impressive annual growth rate of 22.1 percent.
As part of its Vision 2030 strategy, the Kingdom prioritizes R&D investment across various sectors. Energy, technology, and sustainability receive special attention to diversify the oil-dependent economy effectively. GASTAT reported substantial employment statistics in different sectors, revealing that higher education employed 37,540 individuals, accounting for 76.1 percent.
Allocation of Research Funds
The private sector followed with 8,810 employees, representing 17.9 percent, while the government sector employed 2,987 individuals, making up 6.1 percent. By the end of 2023, Saudi Arabia had 32,209 researchers in higher education, with the private sector employing 2,790 and the government sector employing 1,883 researchers.
In funding distribution, the government sector accounted for the largest share of R&D spending at SR12.12 billion in 2023. This figure represented 53.6 percent of the total R&D expenditure in the Kingdom. The private sector contributed SR9.31 billion, while the higher education sector received SR1.17 billion in funding.
Examining overall expenditure reveals the private sector led with SR8.70 billion spent on R&D initiatives. The government sector closely followed, spending SR8.66 billion, and the higher education sector contributed SR5.24 billion towards R&D goals.
Commitment to Energy Innovation
In August 2023, energy giant Saudi Aramco announced a substantial $100 million commitment towards R&D funding at King Abdullah University of Science and Technology. This investment spans the next decade, illustrating the commitment to innovation in Saudi Arabia.
The partnership aims to foster innovation and develop viable solutions supporting global energy transition and sustainability objectives. Key focus areas include energy transition, sustainability, materials science, upstream technologies, and digital solutions to enhance the Kingdom’s R&D landscape.
