Saudi Arabia’s Vision 2030: Building a well-being economy for the future

 

Saudi Arabia’s Vision 2030: Building a better quality of life in the kingdom

As Saudi Arabia redefines its economic and social fabric, well-being is moving from a luxury to a strategic priority at the heart of its Vision 2030 transformation. This ambitious plan is reshaping the role of health, happiness, and quality of life, influencing policy, business, and community life alike.

This shift marks a move from reactive healthcare to proactive wellness, from isolated services to integrated ecosystems, and from lofty aspirations to tangible outcomes. According to Bonafide Research, Saudi Arabia's mental wellness market is expected to exceed $1.8 billion by 2029, reflecting the increasing importance of personal and societal well-being.

Turning Vision into Action

The Kingdom’s “Quality of Life” program is central to these changes, fostering collaboration between the public and private sectors around wellness. It promotes better mental health access, improved workplace well-being, and expanded recreational opportunities for citizens.

Janahan Tharmaratnam, a Healthcare & Life Sciences partner at Arthur D. Little, notes that mobile apps like Labayh and Sehhaty are helping normalize therapy among young Saudis by providing accessible and private mental health support while reducing social stigma.

"In the workplace, we’re seeing early efforts, particularly by SMEs, to integrate wellness platforms that enhance employee health and productivity. While the 40% physical activity target by 2030 creates a soft incentive for companies, the actual adoption of wellness programs still varies widely," Tharmaratnam adds.

 

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Large-scale projects like Qiddiya are exemplifying this new focus on proactive well-being. However, Samer Abi Chaker, principal at Oliver Wyman, cautions that the success of such megaprojects depends on their accessibility, affordability, and seamless integration into the broader health ecosystem.

Urban design also plays a pivotal role in promoting wellness. Projects like Riyadh's King Abdullah Park encourage physical activity and social interaction, which can reduce stress and help prevent lifestyle-related diseases.

Quality of life initiatives in action

In 2024 alone, Saudi Arabia's Quality of Life program launched 173 initiatives, planted 1.1 million trees, created 149 parks, and helped increase tourism visits from 41 million in 2018 to 115.9 million.

These efforts contributed to a 3.9% rise in non-oil GDP growth and pushed the Kingdom’s World Happiness Index score to 6.6. Turki bin Mamdouh Al-Shahrani, CEO of Orient Insurance KSA, emphasizes that clear targets, such as ranking in the top 100 livable cities and creating 1 million jobs in the tourism sector by 2030, are setting a measurable path for progress.

 

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Private sector’s role in well-being

The private sector is increasingly aligning with Vision 2030’s wellness objectives. For example, BYD KSA, an automotive firm, has witnessed a 198% surge in retail sales in early 2025, aligning its electric vehicle (EV) offerings with the national agenda. BYD’s Jerome Saigot explains that the firm’s focus on EV adoption is helping to reduce pollution, improve air quality, and create jobs in line with the Kingdom's sustainable development goals.

Similarly, PwC’s Hawazen Al-Hassoun points out that workplace dynamics are evolving with Vision 2030. More organizations are adopting flexible, inclusive, and well-being-focused policies, which are benefiting both employees and businesses. She stresses that business leaders play an important role in shaping culture, leading by example, and creating opportunities for all generations to thrive.

The emerging well-being sector

Looking ahead, Saudi Arabia's well-being economy will converge innovation, digital transformation, and infrastructure development across multiple sectors, from healthcare and tourism to technology and culture. Tharmaratnam highlights three key areas shaping this evolution: mental health startups like Ayadi, wellness destinations such as AMAALA, and integrated government planning powered by digital platforms.

 

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With a young, digitally connected population, culturally attuned mental health startups are gaining traction. Chaker notes that these startups are offering tailored digital therapy platforms and wellness apps to address the unique needs of this tech-savvy demographic.

Al-Shahrani adds that heightened awareness is creating new opportunities for both startups and wellness tourism. Insurance companies, for instance, could partner with mental health startups to offer coverage or collaborate with luxury wellness retreats to provide tailored insurance packages. He stresses that insurers must take a proactive role in promoting wellness through preventative care and incentivizing healthier lifestyles.

Investment opportunities in well-being

Mindfulness tourism and workplace wellness are rapidly becoming investment themes in Saudi Arabia's evolving economy. Tharmaratnam points out that heritage-rich destinations like AlUla are promoting health-focused tourism, while companies like Kayanee are embedding well-being into their core business identity.

From an investor's perspective, there is long-term potential in both sectors, though stronger proof points are needed. Recent reforms such as 100% foreign ownership and new economic zones have sparked interest, particularly from hospitality and digital health investors. What many are waiting for is scalability, with platforms that offer meaningful user retention, data transparency, and regulatory clarity.

Tharmaratnam adds that the broader question for Saudi Arabia is whether economic growth can be designed around well-being instead of just productivity. This shift in focus represents a fundamentally different business landscape—one that could take a decade to fully materialize.

 

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The future of well-being in Saudi Arabia

As the Kingdom continues its transformation, Saudi Arabia is attracting more local and global capital into the well-being sector. Oliver Wyman sees growing involvement from local investors and the Public Investment Fund in well-being projects, which could pave the way for international investments as the sector matures.

For insurers like Orient Insurance, investing in well-being is not just about individual health but also about creating a more prosperous and secure future for Saudi Arabia.

BYD's Saigot underscores that the shift toward clean mobility solutions is aligned with new travel and work habits that support the Kingdom’s well-being agenda.

As Al-Hassoun from PwC concludes, this transformation is a fundamental redefinition of success within the Saudi business landscape. She believes that businesses will need to recognize and adapt to these changes, investing early in the well-being economy to attract talent, build trust, and thrive in a future that is increasingly focused on health, happiness, and quality of life.

Source: Arab News