Economic Diversification in the Kingdom of Saudi Arabia: realty and ways to develop in light kingdom’s Vision 2030 for the period (2016-2022)

Abstract

This study aimed to highlight the reality of economic diversification in the Kingdom of Saudi Arabia and to reduce the heavy dependence on the oil sector by developing non-oil sectors and implementing structural reforms to diversify the economic base and increase private sector participation in light of the Kingdom's Vision 2030. The study found that the Saudi economy has achieved some of its goals in diversifying the economic base, as the degree of diversification has increased in some productive activities.