How Saudi Arabia is measuring the progress of its reforms


May 30, 2019

As Saudi Arabia undertakes its ambitious program of economic reforms, we know that it is important not just to implement the reforms, but also to monitor the difference that they are making. We approach this in a number of ways, from high-level key performance indicators to sending “mystery shoppers” to test how well reforms are working in practice. One of the key measures we look to is how Saudi Arabia is ranked in independent reports looking at how global competitive economies are and how easy it is to do business. The reports are important because they tell us how international experts see things and what impact they believe our reforms are having.

I am very pleased to say that we are making considerable progress in this area.

For example, the World Competitiveness Report, which is published by IMD, one of the world’s leading business schools, is the latest example of independent analysis reflecting the progress that Saudi Arabia is making. The report ranked Saudi Arabia as the world’s 26th most competitive economy and the 7th most competitive G20 nation. This is positive in itself, but even more important was the fact that we were the country with the largest improvement — rising 13 places in the rankings from last year. The report noted that Saudi Arabia “registered the highest global ranking for investment in education and fared well in public and business finance.”