Saudi Arabia’s investment in research and development soared to SR19.2 billion ($5.1 billion) in 2022, marking a 32.7 percent increase from the previous year, according to a recent report.
The Research and Development Statistics Report for 2022, published by the General Authority for Statistics, revealed that the government sector infused SR11.1 billion into R&D, constituting 58 percent of the nation’s total R&D budget.
Furthermore, the private sector also showed a strong commitment to research, contributing SR7.5 billion, which accounts for 39 percent of the overall funding.
Notably, the education sector was allocated SR558 million, making up the remaining 3 percent of the R&D investment.
GASTAT’s data also highlighted a significant increase in the country’s research talent pool, with the number of researchers in the Kingdom rising by 21.6 percent to 30,160 individuals in 2022.
Of these, the education sector employed the majority, with 89 percent or 26,750 researchers, bolstering the country’s academic research capabilities.
The private sector and the government sector followed with 6 percent and 5 percent, totaling 1,810 and 1,590 researchers, respectively.
In 2022, the workforce in R&D reached 43,960, with the education sector employing the majority at 84 percent or 36,930 individuals. The private sector accounted for 10 percent of R&D employees, totaling 4,440, while the government sector comprised 6 percent, with 2,580 employees in the field.
This data indicates a strategic shift in Saudi Arabia toward a knowledge-based economy, aligning with the government’s Vision 2030 to foster innovation and diversify away from oil dependence.
Saudi Arabia’s R&D growth supports the overarching goal to increase the sector’s share in the gross domestic product by $16 billion by 2040, as outlined by Crown Prince Mohammed bin Salman in a comprehensive research, development, and innovation strategy unveiled last year.
The initiative aims to position Saudi Arabia as a global innovation leader, with plans to allocate annual investments equivalent to 2.5 percent of the nation’s GDP to this vital sector by 2040.