SaudiArabiaPR.com, Online Press Release from Saudi Arabia,Riyadh, Jeddah, Dammam, Meccca and Medina
 
Economy & Statistics(Banking & Investments)
Filter PR by
  
Saudi Arabia Driving Decree Could Add $90 Billion to Kingdom's Economic Output by 2030
Saudi Arabia Driving Decree Could Add $90 Billion to Kingdom's Economic Output by 2030

Bloomberg Intelligence analysis states decision could generate as much income as Saudi Aramco IPO

Dubai, Thursday 28 September, 2017:  The recent decree by King Salman bin Abdulaziz Al Saud allowing women to drive is set to boost economic growth, potentially adding about $90 billion to economic output by 2030. This is comparable to income generated by Saudi Aramco’s initial public offering, Bloomberg Intelligence research by Ziad Daoud, Middle East Economist, has found. 

While the gains of this decision may take some time to be realized, greater female engagement in the labor market is likely to provide a substantial lift to the total supply of labor, causing GDP to grow faster over the next decade, the analysis states. Currently, only 20% of females in Saudi Arabia are economically active and increasing their participation rate is one of the main targets of the National Vision 2030 program. 

The research finds that just adding 1 percentage point to the rate every year could add 70,000 more women a year into the labor market. While not all of these women may find work, even assuming a structural unemployment rate for women of 17% means the growth consequences are sizable. This could lift potential GDP growth by up to 0.9 percentage points a year. Should this be realized, the Kingdom’s GDP would be around $90 billion larger by 2030 than it would have been if the ban had remained in place. This amount is similar to what Saudi Arabia is trying to raise through the sale of a 5% share in Saudi Aramco.

Bloomberg Terminal clients will find the full analysis on {BI ECON<GO>} and can sign up to the economics BRIEF at {BRIEF<GO>}. 

Posted by : Saudi Arabia,Riyadh, Jeddah, Dammam, Meccca and Medina PR Network Editorial Team
Viewed 7226 times
PR Category : Banking & Investments
Posted on : Thursday, September 28, 2017  1:09:00 PM UAE local time (GMT+4)
Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of SaudiArabiaPR.com.
Email this article Print this article

Share this article with your friends and followers
NewsVine
Back to Section Home

Related Stories

 
 
Most Viewed Press Release posted in the last 7 days
Cerruti 1881 Infinite Love [33800-Views]
Oh, Sweetie Lipcolour! [29565-Views]
Express Your Signature Style [26330-Views]
The Memovox Adventure [23124-Views]
Sacoor Brothers launches FIRST ever Fragrance “GENTLEMAN” [21373-Views]
Bath-time Essentials from Corine de Farme [20533-Views]
Jaeger-Lecoultre Main Sponsor of the 75th International Film Festival of La Biennale Di Venezia [20377-Views]
Rasasi Introduces Exquisite Musk Collection [20299-Views]
Sharjah continues to become more affordable, with rents and sales prices falling – Bayut H1 report [20123-Views]
Celebrate the Moment with Mouawad Jewelry [14604-Views]
Introducing Salvatore Ferragamo's Men's Sun and Optical Capsule [12890-Views]
Marchon Eyewear and G-III Apparel Group Sign Exclusive Global Licensing Agreement For DKNY and Donna... [11246-Views]
Huawei's New Range of Artificial Intelligent Smartphones Set to Change Your Selfie Game [10873-Views]
The #1 trick to capturing the best photo at night? The trick is the AI camera in HUAWEI P20 Pro [10750-Views]
Your search for the best gifts just got easier with SOUQ's Interesting Finds [9848-Views]
Skyline Suhoor Night 2018 [9036-Views]
LG launches new AI-powered premium LG G7 ThinQ+ flagship for GCC consumers [8052-Views]
The Annual Skyline Iftar at Skyline University College [6503-Views]
Historic Day Marked by Female Racing Driver as Saudi Women Gain the Right to Drive [6449-Views]
Homoola Launches Road Freight Load-Matching in Saudi Arabia [6257-Views]
 
RSS Facebook Twitter LinkedDin
 
Top Sections
 
Top Stories