Saudi Arabia eyes faster jobs than labor market entry rate: Minister

Minister of Economy and Planning Faisal Alibrahim

The Saudi government aims to create high-quality jobs faster than the rate at which people enter the labor market, Minister of Economy and Planning, Faisal Alibrahim, told Reuters.

The Kingdom provided a record of 2.2 million jobs in the private sector last year.

Saudi Arabia will continue to tap into non-traditional sectors like entertainment and esports to boost the quality of life and lure talent.

"In the past, these were seen as hopeful byproducts of an economic transformation. Today, they are seen as master ingredients for an optimum economic transformation," the minister added.

New sectors that did not exist in the past – sports, entertainment, culture and tourism - are expected to play a big role in the future, he concluded.