The UN says that for all countries, urbanization is driving economic growth with higher per capita incomes and higher productivity being outcomes of this process of economic agglomeration. The World Bank estimated that 75% of future GDP growth around the world will come from cities and towns. According to a report, the global smart cities market is pegged at $517.62 billion and is projected to achieve $2.402 Trillion by 2025, registering a CAGR of 21.28% during 2019 to 2025; hence it is one of the most promising markets.
Realizing the potential, The visionary government authorities of Saudi Arabia launched “The Quality of Life Program 2020″ under “KINGDOM VISION 2030″ with a goal to build “All Inclusive Economic Cities” referred as Smart Cities that can gain spot in the top ranked 100 cities in the world. The Kingdom of Saudi Arabia (KSA) is hence investing billions of dollars to set up 10 smart cities in the region and it is expected to contribute US$150 billion to GDP and create more than 1 million jobs by 2020.
Non-oil revenues are emergent in the kingdom, as confirmed in the Saudi Arabia’s 2019 budget and construction remains a key job originator in the country. The significance of construction in Saudi Arabia is underscored by its suite of gigaprojects in transport and mobility, social infrastructure developments and energy megaprojects. Annual technology spending in the Middle East and Africa (MEA) alone is expected to double from $1.3 billion to $2.7 billion over the next four years.
The Saudi smart city summit and expo will be a melting pot of ideas, strategies for smart and sustainable development of cities brought to you by premium consortium of entire smart city ecosystem’s stakeholders comprising of government officials, policy makers, advisors, regulators, consultants, urban planners, developers, entrepreneurs, technology experts, investors and academicians; to name a few.
Virgin Hyperloop One
Public Investment Fund Projects (PIF)
King Abdulaziz City for Science and Technology (KACST)
The worldwide dialogue comprising of finely curated array of sessions that broadens the event program and gives answer to some concrete challenges. A perfect mode to discover the most pressing issues and move from words to actions!
Witness the latest and most pioneering solutions for the city of the future by getting a chance to explore exhibition arena with a live demonstration of the technology and unique projects presented by an assorted range of exhibitors from around the globe.
Expand your peer circle and build a robust reputation in the market using our varied networking sessions. Swap business cards, discuss your issues with experts in person, establish partnerships, build new opportunities and evolve as a brand by building ever lasting impression.
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