Saudi digital economy witnesses robust growth, reaching its value SR460 billion

Saudi digital economy witnesses robust growth, reaching its value SR460 billion

Saudi Gazette Report JEDDAH — Saudi Minister of Communications and Information Technology Abdullah Al-Swaha announced that Saudi Arabia’s digital economy witnessed robust growth, reaching its value at about SR460 billion ($122.65 billion). “The digital economy has grown by about 10 percent since the launch of the Kingdom’s Vision 2030,” he said in a press conference held on the sidelines of the LEAP Tech Conference 2024 in Riyadh. Al-Swaha said that the Kingdom’s technical and digital market has grown to more than SR183 billion ($48.7 billion). The four-day conference, which will conclude on Thursday, is being witnessed a large international presence and announcements of billion-dollar investment deals related to digital transformation.In his inaugural speech on Monday, Al-Swaha revealed that the conference would bring in technological investments amounting to $11.9 billion. The conference witnessed announcement of landmark agreements with global technological giants such as Amazon Web Services, IBM, Datavolt and ServiceNow. More than 1,100 speakers including international figures, experts and specialists in the technology sector joined their Saudi counterparts at the 3rd edition of LEAP Tech Conference 2024, under the slogan “New Horizons,” being at the Riyadh International Convention & Exhibition Center.
Saudi digital economy witnesses robust growth, reaching its value