Doing Business in Saudi Arabia
With a nominal GDP of $435 billion in 2010 ($510 billion estimated in 2011), Saudi Arabia is the largest and most stable economy in the Gulf. The Saudi economy weathered the recent economic and financial crisis far better than other economies in the area, thanks largely to its prudent, conservative economic and financial policies.
Saudi Arabia’s economic performance remained strong in 2010 despite the world economic crisis. The country’s real non-oil GDP growth was 3.7% in 2010. In 2008, per capita GDP in Saudi Arabia rose to its highest level in 27 years, to $18,651. This increase is even more impressive considering that the last increase of this magnitude occurred when the population of the Kingdom was 9.8 million, compared to the current 27 million.