A decade after Saudi Arabia’s Vision 2030, the non-oil sector makes up 56% of the $1.3 trillion economy.
Good morning From Riyadh where we are hosting Global Luck Forum. We’ve had some great conversations about the business implications of technology convergence, geopolitics, demographics, and more. Artificial intelligence has been our top priority, from Google President Ruth Porat Predictions Turning cancer treatment into the business Influencer Jordi van den Bussche is based on creating 10,000 videos of himself a day, using an AI-generated avatar.
With its investments in AI infrastructure and its clear strengths on the power front, this country is building data centers and positioning itself as a hub for AI, entertainment, sports, finance, high-tech manufacturing, and more. Nearly a decade in the Kingdom Vision 2030 With the economic transformation plan, the non-oil sector now contributes 56% of the Kingdom’s $1.3 trillion economy, and women’s participation in the workforce (34%, according to World Banklatest data) Exceeds early goals675 international companies are now licensed to establish a regional headquarters in Riyadh.
Barclays It is the latest to announce its presence in Riyadh. The British lender says it is Returning to Saudi Arabia after an absence of 11 years. At the global forum, CEO CS Venkatakrishnan said he aims to work with reliable partners who are “there for the long term and who will help you get through teething problems”.
But it is clear that Saudi Arabia is not immune to geopolitics, tariffs, investor sentiment and the challenge of creating viable employment opportunities for its young population. This was stated by Saudi Minister of Investment Khalid Al-Falih luck Editor-in-Chief Alison Shontell said 2025 is a pivotal moment in which “the foundations of global business will, in some ways, be shaken and put at risk.” Rewritten before our eyes“.
I had a fascinating conversation with three leaders from the front lines of business in Africa, which has the world’s youngest population, with an average age of 19. Over the next 25 years, the total GDP of Africa’s 54 countries reached It is expected to grow tenfold While the United States is expected to jump by 30%.
I’ll be back tomorrow to report on the second day of the Global Forum, which includes interviews with Delta CEO Ed Bastian, Hong Kong Stock Exchange CEO Bonnie Chan, Standard Chartered CEO Bill Winters, JPMorgan’s Mary Erdos, and Bridgewater founder Ray Dalio. The program is underway and you can watch the live broadcast here.
More news below.
Contact the CEO daily via Diane Brady at diane.brady@fortune.com
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CEO Daily is compiled and edited by Joey Abrams and Claire Zelman.
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