Latest news with #SR180
Saudi Gazette
04-07-2025
- Business
- Saudi Gazette
Saudi Arabia tops global ICT Development Index for 2025
Saudi Gazette report RIYADH — Saudi Arabia has secured the top global ranking in the 2025 International Telecommunication Union (ITU) ICT Development Index, which assesses the digital progress of 164 countries across universal and effective connectivity. The Communications, Space and Technology Commission (CST) confirmed the Kingdom's leading position, crediting it to sustained national efforts in strengthening competitiveness and driving sustainable growth in the ICT sector. The CST highlighted that Saudi Arabia's advanced digital infrastructure has been instrumental in enabling the expansion of its digital economy, which reached SR459 billion in 2024, contributing 15% to the gross domestic product (GDP). The Kingdom's ICT market, valued at SR180 billion in 2024, is the largest and fastest growing in the Middle East and North Africa. The country also recorded a mobile subscription penetration rate of 212% and monthly data usage per user three times higher than the global average.
Gulf Insider
18-05-2025
- Business
- Gulf Insider
Saudi Arabia Stands Out as Largest Digital Economy in MENA With a Value of Over SR495 Billion
Saudi Arabia stood out as the largest digital economy in the Middle East and North Africa (MENA), having made significant strides in artificial intelligence (AI), data centers, digital government, and human capital development, aligning with the goals of Saudi Vision 2030. Saudi Arabia's digital economy is valued at over SR495 billion, representing 15 percent of the gross domestic product (GDP). This was revealed in a report published on the occasion of World Telecommunication and Information Society Day, observed annually on May 17. The telecommunications and information technology market registered record growth of more than SR180 billion in 2024, driven by increased private sector investment and heightened innovation, further reinforcing the Kingdom's position as the largest technology market in the Middle East. These achievements have formed the groundwork for a knowledge-based economy driven by innovation and investment in people and technology, solidifying the Kingdom's position as a regional and global digital power. This reflects a significant shift in the national economic landscape and highlights the Kingdom's success in accelerating income diversification through a smart economy. In its pursuit of transitioning to the smart era, the Kingdom has invested over SR55 billion in AI technologies and data centers, establishing itself as a regional hub for future industries. By empowering digital human capabilities, Saudi Arabia has boosted its regional prominence as a major hub for digital talent, generating over 381,000 quality jobs in the technology sector. In the field of digital governance, Saudi Arabia has made exceptional progress in United Nations indicators, ranking sixth globally in the E-Government Development Index. It also ranked fourth globally in the Digital Services Index, second among G20 countries, and first in the region. In sub-indicators, the Kingdom ranked first globally in digital skills and open digital government, and seventh worldwide in the E-Participation Index.
Saudi Gazette
18-05-2025
- Business
- Saudi Gazette
Saudi Arabia stands out as largest digital economy in MENA with a value of over SR495 billion
Saudi Gazette report RIYADH — Saudi Arabia stood out as the largest digital economy in the Middle East and North Africa (MENA), having made significant strides in artificial intelligence (AI), data centers, digital government, and human capital development, aligning with the goals of Saudi Vision 2030. Saudi Arabia's digital economy is valued at over SR495 billion, representing 15 percent of the gross domestic product (GDP). This was revealed in a report published on the occasion of World Telecommunication and Information Society Day, observed annually on May 17. The telecommunications and information technology market registered record growth of more than SR180 billion in 2024, driven by increased private sector investment and heightened innovation, further reinforcing the Kingdom's position as the largest technology market in the Middle East. These achievements have formed the groundwork for a knowledge-based economy driven by innovation and investment in people and technology, solidifying the Kingdom's position as a regional and global digital power. This reflects a significant shift in the national economic landscape and highlights the Kingdom's success in accelerating income diversification through a smart economy. In its pursuit of transitioning to the smart era, the Kingdom has invested over SR55 billion in AI technologies and data centers, establishing itself as a regional hub for future industries. By empowering digital human capabilities, Saudi Arabia has boosted its regional prominence as a major hub for digital talent, generating over 381,000 quality jobs in the technology sector. In the field of digital governance, Saudi Arabia has made exceptional progress in United Nations indicators, ranking sixth globally in the E-Government Development Index. It also ranked fourth globally in the Digital Services Index, second among G20 countries, and first in the region. In sub-indicators, the Kingdom ranked first globally in digital skills and open digital government, and seventh worldwide in the E-Participation Index.
Saudi Gazette
12-05-2025
- Business
- Saudi Gazette
CST: Volume of communications and technology market reaches SR180 billion in 2024
Saudi Gazette report RIYADH — The Communications, Space and Technology Commission (CST) revealed that the volume of the communications and technology market reached SR180 billion in 2024, with a compound annual growth rate of 7.5 percent over the past five years. The announcement was made during the 11th edition of the ICT Indicators Forum 2025, held in Riyadh on Monday, in the presence of Acting CST Governor Eng. Haitham Al-Ohali. The event, attended by leading experts and sector leaders, featured five key presentations along with a panel discussion reviewing the financial performance of the Kingdom's communications and technology sector. According to a press release issued by the CST, the forum opened with a presentation on performance indicators for the telecommunications and technology sector, delivered by CST General Manager of Regulations Eng. Thamer AlKhwaiter. He revealed that the median mobile internet speed in the Kingdom has reached 129 Mbps, ranking the fourth among G20 countries in 2024. Mobile telecommunications subscriptions have grown to 68.2 million, with an annual growth rate of 7 percent. The presentation also disclosed that the space market volume reached approximately SR7.1 billion in 2024. The event featured a presentation by Vice President of Research for META at IDC Ranjit Rajan, titled "Tech Transformation in Saudi Arabia in the AI Era." He shared key figures on the Kingdom's communications and technology market, highlighting major developments in cloud computing, artificial intelligence (AI), and related sectors. In a third presentation titled "ICT Sector Financial Performance in Arqaam," Al Jazira Capital's Head of Research Jassim AlJubran delivered a comprehensive financial analysis of the sector. He reported that the total assets of ICT-listed companies in the Kingdom have reached SR255 billion, with total revenues amounting to SR128 billion and a market cap of SR427 billion. Meanwhile, the panel discussion examined the financial performance of the sector in Arqaam, with the participation of AlJubran, Vice President of Investor Relations at Mobily Mohammed Aljbali, and Vice President of Budgeting and Financial Planning at Etihad Atheeb Telecom Company (GO) Yazan bin Ibrahim Al-Turki. In another presentation titled "Mobile Communications: Realistic Indicators and Future Development Insights,' MENA Policy Director at GSMA Amr Hashem revealed Saudi Arabia's leadership in mobile connectivity and the significant progress made in accelerating 5G deployment. The forum's final presentation, delivered by CST Director of Internet Techs Development Department Eng. Musaab Alammar unveiled the fourth edition of the "Saudi Internet Report 2024," which addresses internet usage and growth in the Kingdom, along with key indicators related to user patterns, behaviors, and preferences. The report also reviews the most used and downloaded applications, in addition to individual data consumption rates.
