The role of education in economic development in Saudi Arabia

Abstract

This investigation explores the significance of the role played by education in the economic development of Saudi Arabia, particularly at this juncture in pursuit of Vision 2030. The study explores the complex relationship between investments in education and economic growth in the global economy through examinations of education spending versus GDP from 2020 to 2024. A lot of government spending on education has helped many economic indicators but the results also point towards some areas where they can improve, more specifically in terms of resource efficiency and labour market need. The importance of curricula modernization, ongoing professional development for teachers, and stronger links with industry are highlighted in the report to ensure the significance and effectiveness of education. But to be effective, these policies must be accompanied by increased investments in STEM and vocational training, robust monitoring, and evaluation (M&E) systems, and the expansion of private-public partnerships. At the same time, the study reinforces the need for targeted educational programs specifically aimed at AI, career navigators to guide young people, and investments in R&D and innovation. Working on these areas can help Saudi Arabia to make the best of its educational investments and maintain economic growth and development.