With the ambitious Saudi Vision 2030 in place pinning hopes on a better future, Kingdom’s almost all the economic sectors have encountered many challenges. The construction sector is no exception but this vital area of economic activities has started to rebound with many giant projects in sight.

Saudi Arabia's population is rising conspicuously. Its population including expatriates reached 32.6 million at the end of 2017. Of the total, according to recent demographic survey by the General Authority of Statistics (GaStat), Kingdom’s domestic population constitutes 62.6 percent or 20.4 million and the remaining 37.4 percent or 12.2 million is represented by non-Saudis.

King Salman bin Abdulaziz Al Saud approved State's General Budget for the fiscal year 2018. The King addressed the nation, announcing the budget, as the largest expenditure budget in the history of the Kingdom. He asserted that the budget takes into account the lower oil price levels compared to previous years, and has been planned in order to continue development and enhancement process towards achieving the Kingdom's Vision 2030.

The Kingdom of Saudi Arabia’s announced plans to build a $500 billion mega city on the Kingdom’s Red Sea coast, as part of a huge national push to diversify its economy

Underlining the potential for tourism development in Saudi Arabia, the economy which had not slowed, despite the global downturn: and the government budget in 2009 which was the biggest ever in order to keep projects on-stream with an unsurpassed expansion of the infrastructure.

Investment potential in the Saudi Arabia’s sports sector is gaining momentum. This fresh boost for the sports investment potentials came when the Council of Economic and Development Affairs (CEDA) in a recent meeting with the Deputy Crown Prince Muhammad Bin Salman to establish a Sports Development Fund and discussed the issues of privatization of sports clubs that are participating in professional league tournaments.

The Saudi Labor Market has undergone significant and dynamic change over the course of the last four years. The labor market is notably segmented and unique challenges are being encountered with the employment of Saudi nationals into the private sector. The Saudi Labor Market has undergone significant and dynamic change over the course of the last four years.

On Thursday, 22 December 2016, the Council of Ministers endorsed the government’s budget for 2017 and announced the final outcome of fiscal operations and macroeconomic performance for 2016. In 2016, actual government expenditures are expected to record their first back-to-back decline since 1999, falling by 15.6 percent to settle at SR825 billion.

The moderation of private credit growth around 9.8 percent for two consecutive months might reflect a tendency to avoid cyclical risks by deficit financing the government at the expense of financing private projects. All data illustrates that moderation is gaining traction, and given the current dynamics a similar performance next year is the most likely scenario.

The contracting and construction sector had raised much concern over new labor regulations. However, it seems they have situation which can be handled by having proper project management. The present condition should not dent the contacting sector provided if they use the labor laws in proper way.

Saudi Arabia has turned its attention to the development of a new source of energy -- shale gas, which is to strengthen its position as a key player in the global energy supplies. This ambitious initiative for the exploration of shale gas estimated to be a deposit of over 600 trillion cubic feet, more than double of the current proven conventional reserves, will undoubtedly save more of the Kingdom’s crude oil for lucrative exports.