Compelling Data for Fintech in Saudi
Compelling macroeconomics, demographics, tech-adoption rates and user behaviors should get the conversation started, not just for regional but global fintech entrepreneurs and investors. What does the data say?
Saudi’s Compelling Macroeconomics.
A Wealthy Nation
Saudi Arabia is a wealthy nation, considered by the World Bank as a “High-Income Economy” and is the only Arab country to be a part of the G-20 major economies. Saudi Arabia is the 17th wealthiest economy in the world with a GDP PPP of $1.63 trillion USD9 in 2020, largely due to having the world’s 2nd largest oil reserves and being the 2nd largest oil producer. This places the Kingdom of Saudi Arabia just behind Spain and Canada and ahead of Australia.