Employment 35,000 Saudi citizens take up private sector jobs in July By Inga Stevens August 7, 2024, 10:54 AM Alamy/Ayman Zaid Visitors at Al Diriyah in Riyadh. Jobs in tourism are vital to Saudi employment and economic growth Over 153,000 new jobs in H1 Tourism, culture jobs supported $1bn issued for training The number of Saudi citizens taking up jobs in the private sector doubled to more than 34,600 in July, up from 16,500 in June, as the kingdom looks to diversify employment away from government sectors. The total number of private sector workers reached 11.473 million in July, up slightly from 11.409 million in June, the Saudi Gazette reported, citing a recent report from the National Labour Observatory. The Human Resources Development Fund (HRDF), led by Turki bin Abdullah Al-Jawini, has been instrumental in attracting more Saudi locals away from government sectors. NewsletterGet the Best of AGBI delivered straight to your inbox every week In a statement, Al-Jawini said that the HRDF helped more than 153,000 Saudis get jobs in the first half of 2024. The fund has also disbursed SAR3.8 billion ($1 billion) to private sector establishments for training, employment and empowerment support programmes during this period. More than 1.4 million Saudi men and women, along with approximately 100,000 businesses in key sectors, benefitted from these initiatives. Saudi real estate hiring drops amid giga-project review Vision 2030 is moving along just fine Saudi Arabia’s GDP falls as revenue tightens The surge in new jobs comes amid mixed results for Saudi Arabia’s unemployment rate in the first quarter of 2024. The overall rate increased by just 0.1 percentage points quarter on quarter to 3.5 percent, yet decreased by 0.8 percentage points year on year. The government has launched various initiatives to boost the private sector, such as the Quality of Life Program (QOL), a key part of the Vision 2030 programme aimed at improving the quality of life in Saudi Arabia. The QOL 2023 Annual Report highlights a pledge of nearly $48 million made by the Cultural Development Fund to support culture and heritage projects, creating new opportunities for artists and creatives. The report also highlights tourism sector growth, with more than 535 investors registering with the Tourism Investment Portal, demonstrating tourism’s role in becoming a vital component of the non-oil economy.
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