Saudi Arabia FDI surges 24% to $31.8B in 2024
Non-oil investment accounts for 90% of total flows as FDI stock nears $260 billion
RIYADH, Saudi Arabia (MNTV) — Saudi Arabia recorded a 24.2 percent increase in foreign direct investment (FDI) inflows in 2024, reaching $31.8 billion. The country’s cumulative FDI stock nearly doubled to $260.4 billion compared with 2017 levels.
The strong performance reflects the success of Vision 2030, the National Investment Strategy launched in 2021, and other sectoral reforms.
For the fourth year in a row, the strategy’s performance indicators exceeded targets, covering gross fixed capital formation, FDI, and the relocation of multinational headquarters.
Gross fixed capital formation hit a record $346 billion in 2024, surpassing its target by 38 percent. Private sector and non-oil investments accounted for 76 percent of the total, highlighting a dynamic investment climate.
Since 2017, annual FDI inflows have more than quadrupled, rising from $7.5 billion to $31.8 billion.
More than 50,000 foreign investment licenses were issued across diverse sectors, and 660 multinational firms relocated their regional headquarters to the kingdom by 2024, cementing its role as a leading regional hub.
Minister of Investment Khalid Al-Falih said the results underscore investor confidence in the kingdom’s reforms and resilience amid global economic challenges.
He noted that non-oil FDI accounted for 90 percent of total flows in 2024, contributing 4.2 percent to non-oil GDP.
Al-Falih added that Saudi Arabia’s economic strength, strategic location, and ongoing investment reforms will continue to attract international capital, accelerating diversification and supporting the goals of Vision 2030.
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