Strong demand bolstered growth in Saudi Arabia’s non-oil business sector during December 2024, though at a slightly slower pace compared to November, according to a recent survey released on Sunday.

The kingdom’s focus on economic diversification under its Vision 2030 initiative continues to bear fruit, with robust consumer and corporate demand driving performance in the non-oil sectors, including construction, retail, and manufacturing.

Analysts view this growth as a positive indicator of Saudi Arabia’s sustained efforts to reduce dependence on oil revenues and strengthen its broader economic foundation.