Skip to contentOpportunities for Financial Consulting in Saudi Arabia under Vision 2030
Reducing Dependence on Oil and Diversifying Income Sources
Vision 2030 emphasizes reducing reliance on oil revenues and diversifying the Kingdom’s sources of income. This transformation requires companies and investors to restructure their portfolios and manage their funds more effectively. Consequently, the demand for financial consulting is expected to grow, particularly in supporting well-informed investment decisions and managing portfolios in alignment with the Kingdom’s new strategic objectives.Enhancing the Role of the Private Sector and Investments
Saudi Arabia is actively working to strengthen the role of the private sector, which creates greater demand for financial consulting services related to financing, expansion, and investment in small and medium-sized enterprises (SMEs). As a result, financial consultants will enjoy significant opportunities in areas such as capital management, financing strategies, and preparing financial feasibility studies for new projects.Digital Transformation and Financial Innovation
In line with Vision 2030’s commitment to innovation in the financial sector, particularly through digital transformation and financial technology, financial consultants will increasingly be required to provide advisory services on fintech solutions such as blockchain, digital payments, and artificial intelligence applications within the financial sector.Foreign Direct Investment (FDI)
The growing inflow of foreign investments into the Kingdom represents a major opportunity for the financial consulting sector. There is a strong need for experts who can advise foreign investors on the local financial environment, licensing procedures, taxation laws, and risk management strategies.Tax and Legislative Reforms
Ongoing reforms in Saudi Arabia’s tax and financial systems have created a growing need for consulting services that help individuals and corporations comply with new regulations. Additionally, government initiatives to encourage innovation in the financial system—such as the establishment of the Capital Market Authority and the promotion of market transparency—are opening new avenues for specialized financial consulting.Expansion of Sovereign Wealth Funds
Saudi Arabia is significantly investing through its sovereign wealth fund, the Public Investment Fund (PIF), across a wide range of industries both domestically and globally. This expansion drives demand for specialized financial consulting services in asset management, investment planning, and financial risk analysis.Personal Financial Planning
As financial awareness among Saudi citizens increases—supported by government efforts to promote savings and investment—the demand for personal financial consulting services will also rise. Key areas include retirement planning, wealth management, and investment in equities and bonds. Moreover, the growing size of family investments in the Kingdom, combined with the high growth rates of the macroeconomy, further amplifies the demand for such services.Financial Risk Monitoring and Auditing
Given the increasing global and domestic economic challenges, there will be greater emphasis on financial risk management. Individuals and companies alike will require financial consultants to evaluate risks and develop solutions that safeguard financial stability.
Conclusion
The financial consulting sector in Saudi Arabia is poised for substantial growth in the near future, driven by the Kingdom’s structural and economic transformations under Vision 2030. There will be rising demand for financial consultants in diverse fields such as asset management, Islamic finance, fintech, and advisory services for businesses and SMEs.
Dr. Hossam El Ghaish
Head of Consulting Team
NHG Experts for Business Development
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