Impact of emerging technologies on economic diversification: the case of Saudi Arabia

Amer S. Al-Roubaie

Journal of Business and Socio-economic Development, 2025, vol. 5, issue 4, 402-416

Abstract: PurposeThe main purpose of this paper is to examine the performance of Saudi Vision 2030 and its impact on economic diversification. This study highlights the importance of economic diversification in building capacity for a resilient and productive economy. It evaluates the outcomes of government policy initiatives on various sectors of the economy.Design/methodology/approachThis study adopts a theoretical and descriptive approach. It makes use of data collected from a variety of sources to analyze and highlight the progress of Saudi Vision 2030 in diversifying the economy and reducing the country’s dependence on a limited number of commodities. The sources of data include government reports, academic publications and statistical databases. By analyzing information from these sources, the study aims to shed light on the initiatives and outcomes associated with Saudi Vision 2030, providing insights into the effectiveness of the strategies implemented to achieve economic diversification.FindingsThe study adds value to existing literature by providing updated information on the outcomes of Vision 2030. It highlights the tangible progress made in various non-oil sectors and the overall impact on the Saudi economy. This updated data is crucial for researchers, policymakers and stakeholders to understand the effectiveness of Vision 2030 and to make informed decisions for future initiatives.Originality/valueThe paper features the effectiveness of government policy in promoting economic diversification and establishing a supportive business environment, which are crucial for rapid socioeconomic transformation. Policy-makers, researchers and students can make use of the findings of this research to enhance their knowledge and understanding of the Saudi Vision 2030. The outcomes provided can help in refining strategies, updating educational curricula and guiding future research to align with the objectives of Vision 2030.

Keywords: Economic diversification; Industry 4.0; Vision 2030; Capabilities; Sustainable development (search for similar items in EconPapers)
Date: 2025
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Persistent link: https://EconPapers.repec.org/RePEc:eme:jbsedp:jbsed-12-2024-0130

DOI: 10.1108/JBSED-12-2024-0130

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