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Shop for Banknotes Saudi Arabia has an oil-based economy with strong government controls over major economic activities.

Saudi Arabia is encouraging the growth of the private sector in order to diversify its economy and to employ more Saudi nationals.

Diversification efforts are focusing on power generation, telecommunications, natural gas exploration, and petrochemical sectors.

Almost 6 million foreign workers play an important role in the Saudi economy, particularly in the oil and service sectors, while Riyadh is struggling to reduce unemployment among its own nationals.

Saudi officials are particularly focused on employing its large youth population, which generally lacks the education and technical skills the private sector needs.

Riyadh has substantially boosted spending on job training and education, most recently with the opening of the King Abdallah University of Science and Technology - Saudi Arabia's first co-educational university.

As part of its effort to attract foreign investment, Saudi Arabia acceded to the WTO in December 2005 after many years of negotiations.The government has begun establishing six "economic cities" in different regions of the country to promote foreign investment and plans to spend 3 billion between 20 on social development and infrastructure projects to advance Saudi Arabia's economic development.The Hotel Show Saudi Arabia will celebrate its 5th year and is excited to announce its co-location with Stone and Surface Saudi Expo.2017 is set to attract new suppliers, 1000s of key buyers and will include many new features attracting hospitality professionals from across the Kingdom.The event offers a unique platform for global suppliers to find new partners in the region and promote their brand to hoteliers, restaurateurs, interior designers, developers, architects and more.With over US.25m of deals conducted onsite in 2016 and over 4,400 attendees from 25 countries, join us in Saudi, the second largest hub for hotel construction; meet leading hospitality brands, network and win contracts!

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