The Impact of The Digital Transformation Led by Vision 2030 On the Saudi Economy

In the midst of the ever-changing socioeconomic environment, Saudi Arabia’s 2030 vision that was conceptualized in 2016 continues to shape the modernization of the country’s economic prosperity and the social fabric of Saudi’s society (Surf & Mostafa, 2017). Following the 2003 to 2013 oil boom that led to the vast growth in the Saudi economy almost by double in size, that led to over 1.7 million Jobs created in Saudi with 75% adjusted inflation growth and over $450 billion invested on education, Infrastructure and health (Abdelfattah, 2017). Based on the context of 2030 vision based on economic expansion and improving the living standards and quality of Saudi Arabians, the authorities developed a growth model that was dependent on public spending and oil exports. Despite such ambitious development plans and modernization of Saudi Arabia, there have been significant concerns on the depletion of its oil for exports that it depends on for the realization of it 2030 vision (Al-Zahrani, 2015). Thus, there have been significant suggestions on the impact of digital transformation the vision 2030 would have in the Saudi Arabia’s Economy. As globalization continues to shape the socioeconomic and the labor environment in Saudi, there are some factors that the current study aims to articulated and access their future implications on Saudi’s Economy. There have concerns on the future of Saudi’s economy with significant concerns being raised to possible depletion of Oil as its primary export production and means of foreign earnings (Abdelfattah, 2017). Thus, investment in infrastructure and technology such as digital transformation are the critical pillars of vision 2030. The paper aims to articulate the impact of the digital transformation led by vision 2030 on the Saudi economy and access the future orientation of such digital transformation in achieving the 2030 vision objectives.