Davos: High-level Saudi officials and ministers gathered at Saudi House during the 2026 World Economic Forum (WEF) Annual Meeting to showcase the Kingdom's transformative economic milestones and its future-ready strategy centered on human capital. During the panel, Saudi Ambassador to the US Princess Reema bint Bandar bin Sultan bin Abdulaziz emphasized that prioritizing investments in human capital is essential for economies to remain competitive in the future.
According to Saudi Press Agency, Princess Reema noted the significance of empowerment and strategic placement, stating that providing individuals with the space to lead ensures high performance. She remarked that when the right people are in the right place at the right time, exceptional results follow. Concluding her address, she affirmed that the Kingdom possesses both the ideal environment and the necessary talent, asserting that the present moment is the time for action.
Minister of Tourism Ahmed Al-Khateeb highlighted the extraordinary success of the Kingdom's tourism strategy, noting that the initial Vision 2030 goal of welcoming 100 million annual tourists was achieved seven years ahead of schedule. Since reaching that milestone in 2023, the sector has continued to see year-on-year growth in both visitor numbers and total tourist expenditure.
Minister of Investment Khalid Al-Falih highlighted the Kingdom's rapid economic expansion, noting that foreign direct investment has increased fivefold since the launch of Saudi Vision 2030, and that domestic confidence is equally strong, with local investment doubling. He also stated that Saudi Arabia has reached the level of leading global economies regarding gross capital formation as a percentage of GDP.
Minister of Finance Mohammed Aljadaan described how Saudi Vision 2030 has provided a blueprint for credible national transformation. He emphasized that a clear, ambitious vision must be matched by sustained implementation to ensure long-term success, and that transparently showcasing results is essential to enhancing community confidence in the transformation process.
Minister of Industry and Mineral Resources Bandar Alkhorayef stated that the Kingdom's competitive advantage lies in its large youth population and diverse natural resources. He noted that youth are currently the world's most critical resource, emphasizing that a nation's ability to transform raw materials into added value depends primarily on investing in its human capital.
Minister of Economy and Planning Faisal Alibrahim highlighted the Kingdom's transition toward a more resilient and sustainable future, noting that the private sector has shifted into a co-leading role in the economy. He emphasized that innovation and research and development now constitute a larger share of Saudi Arabia's economic activity as the nation deepens its integration with global markets.
The Ministry of Economy and Planning announced that it will launch the SUSTAIN Platform in beta version in 2026 during a NextOn talk at Saudi House. SUSTAIN is an AI-enabled matchmaking partnership network designed to strengthen cross-sector collaboration and accelerate the delivery of sustainable development initiatives. The platform was developed in collaboration with WEF and Bain and Company.
Furthermore, the Quality of Life Program Center and UN-Habitat jointly announced the outcomes of the Quality of Life Initiative, a global platform that supports a people-centered approach to urban development. Additionally, SDM announced a partnership with Cornell University titled "Frontier Science for Human Health: A Saudi-US Space Research Collaboration." It aims to advance innovative space and computational biology technologies, with a focus on space research and human health missions.