Economic Factors in the Saudi Arabia Pestle Macroeconomic Analysis

Oil Dependence: The Saudi economy heavily relies on oil exports, making it vulnerable to fluctuations in global oil prices.
Economic Diversification: The government is actively working to diversify the economy away from oil, promoting sectors such as tourism, manufacturing, and technology.
Infrastructure Development: Significant investments are being made in infrastructure projects, including transportation, energy, and telecommunications, to support economic growth.
Inflation and Interest Rates: The Saudi Central Bank plays a crucial role in managing inflation and interest rates to maintain economic stability.