Saudi Arabia’s economy is at a tipping point following a decade of prosperity propelled by surging oil prices. We believe that the nation has a great chance to revitalize its economy through investment and productivity-driven change, which will contribute to future expansion, job creation, and prosperity.

According to our research, the nation has a lot of potential to change its economy and become less reliant on oil.

• The surge in oil prices between 2003 and 2013 contributed to Saudi Arabia’s economic growth, making it the 19th largest economy in the world. Household incomes increased by 75%, the GDP doubled, and 1.7 million employment—including jobs for more Saudi women—were created. In 2014, the government established reserves equal to about 100% of GDP and made significant investments in infrastructure, health care, and education.
• With a shifting global energy market and a demographic shift that will result in a large increase in the number of Saudis of working age by 2030, the nation can no longer rely on oil earnings and government spending to grow. Its current labor force participation rate is 41%, and its 0.8 percent annual productivity growth between 2003 and 2013 was slower than that of many rising economies.
• Even if the nation responds to these difficult circumstances with policy changes, like a budget freeze or immigration restrictions, unemployment will increase quickly, household incomes will decline, and the national government’s fiscal position will deteriorate significantly. However, Saudi Arabia has discovered a solution to these developments and is ready for them.
• Saudi Arabia might be able to double its GDP once again and add up to six million new jobs by 2030 if it underwent a productivity-driven economic change. We project that approximately $4 trillion in investment will be needed to achieve this. More than 60% of these growth prospects might be generated by eight industries: mining and metals, petrochemicals, manufacturing, retail and wholesale trade, tourist and hospitality, healthcare, finance, and construction. So, there will be more vacancies. Use job search services like Layboard if you’re looking for work since Saudi Arabia will surprise you.

Saudi Arabia must hasten the shift from the existing government-led economic model to a more market-oriented one in order to accomplish this change. Achieving greater household earnings in the labor market requires Saudi men and women to participate in the workforce more.

Improved company regulation and more trade, investment, and competition openness are necessary for faster productivity growth. Fiscal sustainability can be ensured through increased spending efficiency and additional revenue streams, such as taxes and higher domestic energy prices.

Every stakeholder will need to be involved, including households, foreign investors, and the private sector. Additionally, as firms adjust to a more competitive climate and Saudi citizens take on more personal responsibility, the state will need to adopt a new philosophy of service delivery.

Although the transition period will be challenging, the potential new age of economic expansion and job creation will be more sustainable than previous oil booms. Don’t worry if you’re still unsure about whether you should relocate to Saudi Arabia and if you’ll find employment there. The nation is searching for new employees due to the transformation. Use the Layboard job search site and you will be able to find jobs in your line of work faster.

The Top 7 Saudi Arabia Jobs for Foreigners

1.Saudi Arabian Treasury Manager Jobs. With a yearly salary of almost $192,000, a treasury manager in Saudi Arabia can expect tremendous growth opportunities. As Saudi Arabia’s venture capital industry grows, jobs in banking and finance will become more and more attractive. A professional degree, such as an ACA, CMA, or MBA, is required, and roughly ten years of experience in order to be eligible.

Treasury managers should generally possess both banking administration and treasury management experience. You ought to be knowledgeable about cash forecasting and management, asset and credit finance. Strong negotiating abilities are also essential.

2. Manager of Construction Projects. This position is crucial to Saudi Arabia’s expanding economy and offers the chance to make almost $168,000 annually. Construction project managers are in charge of organizing staff and supplies. They are accountable for examining blueprints and building designs. In addition to meeting deadlines and productivity goals, they are expected to maintain quality and safety management.

Companies in Saudi Arabia, which produces 25% of the world’s oil, frequently seek pipeline project managers. The majority of businesses demand ten years or more of project management experience. Your job hunt will be considerably aided by experience in the oil and gas sector.

3. Saudi Arabia Jobs for Information Technology Managers. As an IT manager, it will be your responsibility to hire, train, and oversee the entire IT staff. You will be expected to abide by all relevant laws and rules. Every day, you will need to stay up to date with the network facilities, security, and infrastructure. You will also be responsible for ensuring internet connectivity and high-performance networking are available. Employees may also require remote network access, depending on their employer.

A master’s degree in engineering or technology is required for the majority of IT manager positions. Starting a career in a new profession can be a fantastic opportunity because this particular skill set is easily transferable from one industry to another. In Saudi Arabia, an IT manager can anticipate making more than $168,000 per year.

4. A physician or general practitioner from Saudi Arabia. Of course, to work as a general practitioner, one must have a medical degree. The salary for this job, which can reach $13,000 per month, will be the same in Saudi Arabia as it would be anywhere.

Be ready to perform physical examinations, provide immunizations, and administer regular medical treatment. You will need to treat both acute and chronic diseases and administer medication. You also need to have practiced both pre- and post-operative care before. The vast majority of Saudi Arabian clinics and hospitals select general practitioners with four to five years of experience. If you concentrate in a certain field, you could require more experience as a certified specialist.

5. A manager, broker, or real estate agent. Have you sold, bought, or leased houses and land before? Because of their experience, a real estate manager in Saudi Arabia might make over $144,000 annually. One of the job’s requirements is to ensure that new initiatives are proceeding as planned. You need to know how to maximize the returns on each real estate asset. 

You could also need to create budgets and recruit contractors, depending on your employer. Five of the eight to fifteen years of experience required by most real estate companies should be spent managing others. Typically, a degree is necessary, and having excellent negotiating abilities is essential!

6. Human Resources Manager. You can work as a human resource manager in Saudi Arabia if you have a bachelor’s degree and five to ten years of experience. Similar to HR management roles in the US and Europe, multitasking skills will be required. You can make about $144,000 a year if you know how to manage big teams and keep good ties with your employees.

You will oversee the hiring, training, and orientation of every employee in your capacity as HR manager. In addition to adhering to normal operating procedures, you must be able to handle staff complaints and issues. Additionally, you will need to have the ability to multitask.

7. Lawyer from Saudi Arabia. In Saudi Arabia, a legal professional may expect to earn up to $144,000 annually. The majority of corporate, real estate, and finance law specialties have plenty of open positions. Strong academic credentials are crucial, and four to six years of previous legal firm experience are typically needed. For foreigners, legal jobs in Saudi Arabia have fantastic prospects. For expats seeking to obtain international experience, it is appealing because some firms only hire attorneys from the United States or the United Kingdom.