Riyadh Races Ahead: One of the Fastest-Growing Cities by 2033

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Riyadh is making headlines as one of the top 15 fastest-growing cities by 2033, according to the Savills Growth Hubs Index.

_{This Saudi capital stands out as the only non-Asian city on the list, with its population expected to jump from 5.9 million to 9.2 million over the next decade.}

_{Richard Paul, Head of Professional Services & Consultancy Middle East, highlighted the youthful demographic, noting, “Saudi Arabia boasts a population of around 36 million people, and astonishingly, 67% are under the age of 35. The employment potential and ultimate spending power of this segment of the population over the next decade are enormous.”}

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A Thriving Business Hub

_{Riyadh's growth is driven by Saudi Arabia's Vision 2030 economic diversification plan. The city has seen a 5.6% rise in foreign direct investment (FDI) in early 2024, with over 180 foreign companies establishing regional headquarters in 2023.}

_{Ramzi Darwish, head of Savills in Saudi Arabia, added, “The 30-year tax relief for regional headquarters, expanding market, and promising prospects are attracting international companies, reinforcing Riyadh’s position as a vital regional hub.”}

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