Vision 2030 drives transformation in Saudi female workforce participation as women lead in business and new sectors

Saudi Arabia is on an ambitious journey to increase female workforce participation to 40 per cent by 2030, according to Finance Minister Mohammed Al-Jadaan. The country has already surpassed its initial Vision 2030 target of 30 per cent female participation, reaching 35 per cent. This milestone reflects a broad transformation driven by the Vision 2030 programme, designed to diversify the economy and reduce reliance on oil, with female empowerment as a core element.

Al-Jadaan made the announcement during the eighth annual Future Investment Initiative (FII) in Riyadh, where he shared that 45 per cent of Saudi Arabia’s small and medium-sized enterprises (SMEs) are now led by women. “We doubled the number of SMEs in the last seven years. What is interesting is that 45 per cent of these are female-led SMEs,” he said, underscoring the surge in female entrepreneurship across the Kingdom.

This progress reflects the ongoing reforms that have reshaped women’s roles in the workforce. The HERizon Summit, held on October 28 as part of the FII, focused on women’s empowerment under the theme “Invest in Women.” It gathered experts to discuss strategies for elevating female participation globally. At the summit, Princess Reema bint Bandar, Saudi Arabia’s ambassador to the United States, highlighted how regulatory reforms under Vision 2030 have opened new doors for women in both public and private sectors, marking a significant cultural shift.

Al-Jadaan noted that the increase in female workforce participation has had positive impacts on household income and consumption, adding that Saudi women are taking on roles in new and growing sectors, including tourism, which has been heavily promoted as part of the Kingdom’s economic diversification. “We are now targeting female workforce participation…around 40 per cent by 2030, and I think we will be able to achieve that,” he said, projecting confidence in the country’s progress toward gender parity.

Vision 2030 continues to champion opportunities for women across various industries, helping to bridge the gender gap and supporting women as an essential force in Saudi Arabia’s workforce.