Saudi Arabia is emerging as a global leader in addressing labor market challenges, skill development, and workforce requalification, according to a report from the Global Labor Market Conference.
The inaugural report, issued by the conference hosted by the Kingdom’s Ministry of Human Resources and Social Development, emphasized the government’s initiatives to bridge the gap between academic qualifications and market demands.
These efforts include enhancing education and training programs and preparing young job seekers for the rapidly evolving global labor landscape.
The findings align with Saudi Arabia’s Vision 2030 goals, which aim to reduce unemployment from 11.6 percent in 2017 to 7 percent by the end of the decade. The strategy focuses on developing national talent, requalifying the workforce, and driving economic diversification to solidify the Kingdom’s global competitiveness.
“Saudi Arabia has made significant strides in increasing access to education, improving quality, and promoting inclusive learning opportunities,” the report said.
The report, based on input from 14,000 participants across 14 countries, highlighted growing global concerns about workforce readiness. Over half of respondents expressed fears that their current skills could become obsolete in the near future, underlining the urgent need for upskilling to meet the demands of a rapidly changing labor market.
