Saudi Arabia’s economy has shown remarkable growth in Q1 2025, with a 2.7% year-on-year increase in real GDP. This positive performance, reported by the General Authority for Statistics (GASTAT), highlights the country’s successful shift. Toward economic diversification, moving beyond reliance on oil revenue and embracing other sectors like tourism, entertainment, and technology.
Key Drivers of Growth
- Non-Oil Sector Takes the Lead
The non-oil sector grew by 4.2% in Q1 2025, continuing a strong upward trajectory for the 17th consecutive quarter. This growth, driven by sectors like tourism, entertainment, and technology, demonstrates Saudi Arabia’s commitment to diversifying its economy under Vision 2030. - Government Services
The government services sector saw a 3.2% increase, reflecting continued investments in infrastructure and public services, crucial for meeting the demands of a growing population and enhancing the country’s attractiveness as a global destination for tourism and business. - Oil Sector’s Minor Contraction
The oil sector contracted by 1.4%, which, although a decline, signals the Kingdom’s ongoing success in reducing its dependence on oil for economic stability.
Implications for Event Management and Hospitality
The growth in non-oil sectors, particularly tourism and entertainment, presents tremendous opportunities for businesses in event management and hospitality. As Saudi Arabia continues to host more international conferences, festivals, and exhibitions. The demand for professional event services, including event planning, logistics, and staffing, will increase significantly.
With sectors like tourism and entertainment on the rise, Saudi Arabia is positioning itself. As a major player in the global event industry, offering new avenues for event planners and service providers.
BM Events: Your Partner for Event Staffing in Saudi Arabia
As Saudi Arabia embraces its Vision 2030 and continues to diversify its economy, BM Events, a leading manpower agency in Saudi Arabia, is here to meet the growing demand for expert event staffing solutions. Our experience in event management Riyadh positions us to provide seamless staffing support for all types of events, from global conferences to cultural festivals.
With the rapid expansion of sectors like tourism, hospitality, and entertainment, BM Events is committed to offering high-quality manpower and hospitality services that ensure the success of every event. Whether you’re organizing a small gathering or a large international event, our team is dedicated to delivering exceptional service and a smooth experience for all attendees.
