Saudi Tech Sector Booms in Q2, Driving Economic Growth
AI and Cloud Computing Registrations Soar, Ranking Saudi Arabia 16th in Global Competitiveness
Saudi Arabia’s technology sector experienced remarkable growth in Q2, with significant increases in artificial intelligence (AI) and cloud computing registrations, solidifying the country’s position as a global competitiveness leader.
Sector Highlights
AI technology permits surged to 8,948, up from 5,820 in Q2 last year
Cloud computing services registrations rose to 2,358, from 1,648 year-over-year
Arts, entertainment, and leisure sector saw a 25% increase in commercial records
Electronic games sector expanded by 29% with 336 registrations
Ground passenger transport services, short-term accommodation, mining and quarrying, and pharmaceuticals sectors also showed significant growth
Global Competitiveness
Saudi Arabia ranked 16th out of 67 countries in the World Competitiveness Ranking, a testament to its strong economic performance and competitiveness.
Regional Performance
Riyadh led in AI technology permits, followed by Mecca, Eastern Province, Medina, and Asir.
This growth underscores Saudi Arabia’s commitment to diversifying its economy and fostering innovation in the tech sector.