Saudi Arabia will register “incredible” economic growth in the next four years, with its financial wealth growing by a compound annual rate of 4.3 percent to hit $1.3 trillion in 2027, according to global management firm Boston Consulting Group.
A report released on Wednesday further disclosed that real assets in the Kingdom are expected to hit SR3.6 trillion ($960 billion) in 2027, up from SR2.7 trillion in 2022. The report further revealed that currency and deposits represented the largest asset class in Saudi Arabia, making up 48 percent of total personal wealth in 2022.
Earlier this month, the International Monetary Fund said the Kingdom’s fiscal prospects are solid in the near term, with risks broadly balanced, driven by Vision 2030, which has been diversifying the economy since its launch in 2016. “Saudi Arabia’s trajectory signals incredible growth and potential despite global market challenges. —AN