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Economic diversification in Saudi Arabia: the role of information communication technology and e-commerce in achieving Vision 2030 and beyond

Author

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  • Olawale R. Olaopa
  • Yazeed M. Alsuhaibany

Abstract

The consequences of the global price instability, low-carbon energy adoption and lesser demand for crude oil in some situations such as the global pandemic with the associated revenue dwindling, among others, necessitated the adoption of Vision 2030 agenda. Outlined in the vision is the diversification of the economy towards greater non-oil revenue generation through digital transformation facilitated by the information and communications technology (ICT) sector. This study aims at evaluating the level and impacts of ICT/digital penetration, accessibility, adoption, and utilisation on the status of e-commerce and entrepreneurship development as well as the achievement of the economic diversification objective of Saudi Vision 2030. The paper adopts a literature survey method and relies on qualitative analysis of the secondary data using content and theme method of analysis. The study found that for an enhanced service-orientated and knowledge-based economy, ICT adoption, and utilisation is indispensable in the pursuit of sustainable economic diversification agenda.

Suggested Citation

  • Olawale R. Olaopa & Yazeed M. Alsuhaibany, 2023. "Economic diversification in Saudi Arabia: the role of information communication technology and e-commerce in achieving Vision 2030 and beyond," International Journal of Technological Learning, Innovation and Development, Inderscience Enterprises Ltd, vol. 15(2), pages 137-161.
    • Handle: RePEc:ids:ijtlid:v:15:y:2023:i:2:p:137-161
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