Vision 2030’s Big Bet: Can E-commerce Outshine Oil?

Launched with the approval of King Salman bin Abdulaziz Al-Saud, this ambitious plan leverages the Kingdom’s strengths, such as its pivotal role in the Arab and Islamic worlds, substantial investment capabilities, and strategic geographic location. At the core of this transformation is the digital economy, with e-commerce emerging as a critical driver of economic growth and innovation. As of April 2025, the intersection of Vision 2030 and e-commerce growth is reshaping Saudi Arabia’s retail landscape, supported by government initiatives and a tech-savvy population.  The E-commerce Landscape in Saudi Arabia The e-commerce sector in Saudi Arabia has seen remarkable growth, aligning with Vision 2030’s focus on digital transformation. In 2023, the market was valued at $5.15 billion, accounting for 6% of the Kingdom’s $92.6 billion retail market, according to data from the U.S. Commercial Service. Projections indicate a significant expansion, with the market expected to reach $23.46 billion by 2027 and exceed $44 billion by 2030, as reported by various industry analyses. This growth is driven by a combination of high internet penetration, which reached 98.6% in 2022, and a young, tech-savvy population, with over 60% under 30 years old. Consumer adoption is also on the rise, with e-commerce user penetration increasing from 66.7% in 2023 to a projected 74.7% by 2027, translating to 34.5 million users by 2025. This surge is fueled by widespread smartphone usage and a cultural shift towards online shopping, particularly accelerated by the COVID-19 pandemic, which saw 91% of Saudis regularly shopping online, with 14% doing so