Dubai PR Network, Online Press Release from Dubai and Middle East
 
Economy & Statistics(Banking & Investments)
Filter PR by
  
Saudi Arabia Driving Decree Could Add $90 Billion to Kingdom's Economic Output by 2030
 
Saudi Arabia Driving Decree Could Add $90 Billion to Kingdom's Economic Output by 2030

Bloomberg Intelligence analysis states decision could generate as much income as Saudi Aramco IPO

Dubai, Thursday 28 September, 2017:  The recent decree by King Salman bin Abdulaziz Al Saud allowing women to drive is set to boost economic growth, potentially adding about $90 billion to economic output by 2030. This is comparable to income generated by Saudi Aramco’s initial public offering, Bloomberg Intelligence research by Ziad Daoud, Middle East Economist, has found. 

While the gains of this decision may take some time to be realized, greater female engagement in the labor market is likely to provide a substantial lift to the total supply of labor, causing GDP to grow faster over the next decade, the analysis states. Currently, only 20% of females in Saudi Arabia are economically active and increasing their participation rate is one of the main targets of the National Vision 2030 program. 

The research finds that just adding 1 percentage point to the rate every year could add 70,000 more women a year into the labor market. While not all of these women may find work, even assuming a structural unemployment rate for women of 17% means the growth consequences are sizable. This could lift potential GDP growth by up to 0.9 percentage points a year. Should this be realized, the Kingdom’s GDP would be around $90 billion larger by 2030 than it would have been if the ban had remained in place. This amount is similar to what Saudi Arabia is trying to raise through the sale of a 5% share in Saudi Aramco.

Bloomberg Terminal clients will find the full analysis on {BI ECON<GO>} and can sign up to the economics BRIEF at {BRIEF<GO>}. 


Posted by : Dubai PR Network Editorial Team
Viewed 9876 times
PR Category : Banking & Investments
Posted on : Thursday, September 28, 2017  1:09:00 PM UAE local time (GMT+4)
Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of DubaiPRNetwork.com.
Previous Story : UAE leaders trust friendship with India, says H.E. Sheikh Na...
Next Story : UAE - India economic interconnectivity is significant, says ...
Email this article Print this article

Share this article with your friends and followers
NewsVine
Back to Section Home

Related Stories



 
 
Most Viewed Press Release posted in the last 7 days
Skyline Book Fair 2018 [10132-Views]
The Bremont Waterman [9620-Views]
Holiday hair: The best product to keep your locks smelling fresh and protected [9223-Views]
ServeU to Take Huge Leap Forward with Smart Cleaning Robots [7594-Views]
Emirates celebrates inaugural flight to London Stansted [7082-Views]
Blackberry Key2: An Icon Reborn [6991-Views]
Chronoswiss' Exclusive Limited Edition Flying Regulator Marks 31st Anniversary of Kitzbuhe... [6991-Views]
The Future Takes The Past Tense [6838-Views]
CSR Initiatives by Malabar Gold & Diamonds continues in full strength [6612-Views]
Consulate General of India Mr. Vipul came as CHIEF GUEST at the blood donation camp organi... [6222-Views]
DWTC events drive AED 12.7bn in economic value for Dubai, fuelling record 3.3% contributio... [5972-Views]
Marchon Eyewear Summer 2018 Collections [5270-Views]
24 hour Mega Sale at Dalma Mall! [4898-Views]
Al-Futtaim ACE celebrates Eid with exciting offers and activities [4886-Views]
Skin Hydration is one of the primary challenges our skin faces in the UAE [4776-Views]
Beauty on the Go [4752-Views]
du Distributes Eid Gifts at Al Jalila Children's Hospital [4666-Views]
Al Ghandi Auto brings the most Affordable Electric Vehicle - Chevrolet Bolt EV - to the UA... [4593-Views]
New open-air member of the AMG GT family [4581-Views]
Abu Dhabi Treats Eid Al Fitr Visitors to Shopping Bonanza with 90% Discounts Across 15 Sel... [4514-Views]
Hamdan Bin Mohammed Heritage Center distributes Eidia on first day of Eid [4508-Views]
iVOOMi Smartphones Enter the UAE Market Exclusively on SOUQ.com [4453-Views]
Hamilton Jazzmaster Maestro Auto Chrono [4447-Views]
Rapid renewal of smartphone portfolio brings next generation Nokia 5 and Nokia 3 to fans ... [4355-Views]
Purify Your Skin with Skin Republic [4355-Views]
 
RSS Facebook Twitter LinkedDin
 
Top Sections
 
Top Stories