With guidance from its Vision 2030 strategy, The Kingdom of Saudi Arabia (KSA) aspires to become one of the world’s 15 largest economies. Unlocking the growth potential outside its urban centers will play a vital role in achieving this ambitious objective, alongside other growth drivers. This Viewpoint analyzes the primary success factors that are available to state and non-state actors to realize the full potential of KSA’s regions.

Gulf Cooperation Council (GCC) countries enjoy a remarkably small shadow economy. Their informal businesses account for 18% of GDP, below the world average (~28%), and close to Organisation for Economic Co-operation and Development (OECD) countries (~15%). However, bringing shadow businesses into the formal economy is a priority. This Viewpoint shares recent initiatives and explores options for shrinking the shadow economy and expanding small and medium-sized enterprises (SMEs) by increasing economic and financial inclusion.