Saudi Arabia is the largest country in the Middle East. Located in West Asia, Saudi Arabia (officially the Kingdom of Saudi Arabia) is one of the few absolute monarchies left in the world. The population is relatively young, with approximately half of all Saudi people being under 25 years old. The Saudi economy is the largest in the Middle East, the centre of which is the capital and largest city, Riyadh.
Home to Mecca and Medina, the two holiest cities in Islam, the country is an important destination for religious tourists following the Hajj pilgrimage or looking to visit the birthplace of Islam, the world’s second-largest religion.
Petroleum was discovered in the country in 1938, which has since shot the nation into becoming the second-largest oil producer, the leading oil exporter, and controllers of the globe’s second-largest oil reserves. The oil industry accounts for around 47% of Saudi GDP, but the nation does possess a growing services sector.
Retail and wholesale (such as Cenomi Retail and BinDawood Holding), financial services and professional and real estate services account for 43% of Saudi GDP. Vision 2030 has influenced a significant investment in agriculture (3% of GDP) in the hopes that domestic food production could achieve food self-sufficiency for the country’s population.