Tech Companies Fuel Spike in Saudi Business Registrations As Featured on AGBI – January 9, 2025

Commercial business registrations in Saudi Arabia increased by more than two-thirds in the fourth quarter of 2024, led by a proliferation of technology-based companies setting up in the kingdom.

Over 160,000 new records were issued throughout the three-month period, taking the number of active commercial registrations in the country to more than 1.6 million, according to latest figures from the Ministry of Commerce.

Demand was fuelled by cloud computing services, application development, financial technology (fintech) and tourism, entertainment and talent development, the government release showed.

Scott Cairns, managing director of Dubai-based Creation Business Consultants, said there had been a 6.5 percent increase in the share of artificial intelligence companies within his client base in Saudi Arabia.

READ FULL ARTICLE HERE.