Saudi Arabia has witnessed a massive surge in commercial registrations as the Kingdom’s business sector thrives.
The Ministry of Commerce released its quarterly business sector bulletin for the fourth quarter of 2024, as it highlights significant growth and development within the Kingdom’s business landscape.
The report reveals a substantial 67 per cent increase in new commercial registrations issued during the fourth quarter compared to the same period last year.
Commercial registrations in Saudi Arabia
More than 160,000 new records were issued in the past three months, bringing the total number of active commercial registrations across the Kingdom to over 1.6m.
The bulletin emphasised growth within key sectors aligned with Saudi Vision 2030, including:
- Cloud computing services
- Application development
- Financial technology solutions
- Tourism, entertainment, and talent development
E-commerce also saw notable expansion, with a 10 per cent increase in commercial registrations compared to the same quarter last year, reaching a total of 40,953 registrations.
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