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Economy of Saudi Arabia

An aerial view of Kaaba at the Grand mosque in the holy city of Mecca, Saudi Arabia, August 12, 2019.

Saudi Arabia raises taxes at home while making big investments abroad

Business, Economics and Jobs

Saudi Arabia, one of the richest countries in the world, has announced a 15% value-added tax on all goods and services. It is also cutting down some benefits for state employees. Meanwhile, the kingdom has been on a shopping spree with its Public Investment Fund, dropping roughly $7.7 billion on stakes in Facebook, Boeing and Starbucks, among other companies.

A woman wearing a black veil puts her blocks her face standing in a department store.

At the Riyadh mall, Saudi women sell everything from lingerie to popcorn. Meet the kingdom’s new workforce.

A Troubled Kingdom
President Donald Trump walks with Saudi Arabia's King Salman bin Abdulaziz Al Saud

Saudi Arabia could invest $20 billion in US infrastructure, but it’s not necessarily a ‘win’ for America

Economics
Saudi Arabia's picture of King Abdullah Economic City in 20 years

Saudi Arabia plans a $100 billion mega-city to help end its oil dependence

Business

To expand job opportunities, Saudi Arabia plans a women-only work zone

The World

Saudi Arabia’s planned economic city

Business, Economics and Jobs

Correspondent Kate Seelye reports that Saudi Arabia is trying to plan for a future after oil: The Kingdom is trying to diversify its economy