Five Key Takeaways from Saudi Arabia's Thriving Business Landscape

Earlier this month, I travelled to Riyadh to attend LEAP 2025, the Kingdom’s flagship technology event. It was incredible. Both myself and Rob Jackson, Alt Labs' Chief Growth Officer, were blown away by the experience. From next-gen tech to midnight business meetings, we were inspired by the drive for success.??

Although I’d heard about Saudi Arabia’s economic transformation and Vision 2030 (I’ve even written about them for the newsletter!), witnessing the scale of development first-hand was a different experience entirely. Everywhere I went, I saw rapid progress, bold infrastructure plans, and an appetite for change. Saudi Arabia is a region absolutely demanding your attention.??

I’ve tried to boil down my experiences into five key takeaways. Now, it goes without saying that you can’t distill any country down into a few bullet points, and KSA is absolutely no exception, but in terms of what Rob and I saw and experienced; I think this is a pretty good list.??

1. Unmatched Scale and Development?

It’s easy to talk about large investments and futuristic cityscapes but seeing them on the ground offers a whole new perspective. Cities are massively expanding in size. World-renowned architects and experts (including a cohort from the British Museum) are being drafted in to design what feels like a brand-new country. It’s a far cry from the glacial pace of development many of us are used to seeing.??

Speaking to residents, they talked about it feeling like new districts emerge almost overnight. Historical sites are being restored with meticulous attention (that’s that British Museum cohort I was talking about), while entire neighbourhoods are purpose-built for businesses, leisure, and cultural experiences. Initiatives like Diriyah, which aims to revitalise a UNESCO World Heritage Site, blend heritage with modern development in a way that feels distinctly future-focused.?

2. A Warm and Open Business Culture

Coming from a culture where C-suite time is jealously guarded, conversations with local entrepreneurs, corporate leaders, and government representatives were, comparatively, incredibly easy to initiate. Curiosity rather than suspicion seemed to be the default setting, which was unbelievably refreshing. There seemed to be a cultural presumption that you had something real to offer, rather than needing to 'earn' your way to a meeting.

There’s a genuine interest about international partnerships and an eagerness to share expertise, no doubt coupled with the legendary Muslim hospitality. This open-door attitude extends beyond formal meetings. Even chance encounters in cafés often turned into discussions about technology, youth engagement, and the future of work.??

This collaborative culture presents a promising environment for anyone looking to expand or invest and speaks to the willingness to engage with new ideas and relationships that seems to permeate much of modern KSA culture.???

3. Ambition and Alignment with Vision 2030? ?

Vision 2030 underpins much of the Kingdom’s economic and social agenda. It is a long-term plan designed to reduce reliance on oil and develop emerging sectors, including technology, tourism, and entertainment.??

There is strong sense of national pride around realising this vision, and everyone from university students to seasoned executives seems focused on turning ideas into reality.?This was definitely a bit of a (pleasant) culture shock, we're used to deep cynicism for any big Government initiative being the default reaction, so seeing and hearing people be genuinely excited was very refreshing (that's going to be a high-traffic word this article I fear!)

Unlike the typical four-year planning cycles in other regions, Saudi Arabia approaches projects with a multi-decade view. That shift in perspective allows for bold infrastructure and social changes that would be more challenging under shorter timeframes, planning is all about the big picture here.?

?4. A Young Population Ready to Innovate?

One statistic that you can read a dozen times but not really understand until you’re there is about demographics. I’d read that over 60% of the population is under 30, but being there yourself really drives it home. There’s a wave of young disruptors and innovators creating an immense reservoir of talent, ideas, and energy.?

The Saudi government are keenly aware of the need to support these potential entrepreneurs, so that they remain in-country, build new businesses, and drive sustainable growth, avoiding the brain-drain that other nations have faced.?

Encouraging local startups, mentoring young founders, and offering routes to market are all high on the agenda. Coupling this ambition and energy with expert mentoring and investment could be a winning combination.??

5. Shifting from Opportunity to Impact?

Major investors are attracted by the scale of the market and the government’s willingness to invest in infrastructure. Yet many are also looking for ways to reduce risk. From my conversations, there is a clear appetite for structured support systems, incubation and accelerator schemes, corporate innovation initiatives, and other frameworks that help promising ventures thrive. Where capital meets guidance, there is potential to create meaningful change not only in technology but also in healthcare, education, and sustainability.?

These reflections have given me plenty to think about as our team at Alt Labs looks to deepen our involvement in Saudi Arabia. There’s a need for a holistic approach that nurtures homegrown talent, fosters innovative business ideas, and channels investment into sustainable ventures. The alignment of youthful energy, financial resources, and visionary planning is a unique combination that could redefine entrepreneurship in the Middle East.?

I'm looking forward to seeing how these opportunities evolve and to collaborating with partners who share this commitment to innovation.

The Kingdom’s transformation is already well underway, and what happens next has the potential to reshape entire sectors for decades to come.?

?