More and more foreigners are coming to Saudi Arabia. What attracts them?
Saudi Arabia is gradually simplifying its visa regime, as well as becoming more and more attractive to foreign businesses. Therefore, it is not surprising to see a large number of expats, including skilled specialists, moving here.
The number of foreigners signing up for the Kingdom’s social security program (which is mandatory for most workers) , from 198,803 in the second quarter of 2022 to 1,183,577 in the third quarter (that is, almost six times). This is the data provided by the Saudi Arabian General Statistics Office.
For example, the CEO of Deloitte in the Middle East said that there are now 6,000 professionals in Saudi Arabia and said that this is not the limit and that their number will only grow.
Why are companies and professionals increasingly relocating to Saudi Arabia?
One of the most important reasons was the government announcement in February 2021: according to it, by the end of 2023, companies must establish a regional headquarters in the country in order to work on government contracts. As a result, 44 multinationals moved their regional headquarters to Saudi Arabia.
Another significant factor is that new labor laws went into effect in March 2021. They allow employees to change jobs without having to get their employer’s approval.
The fact that the system of exit and re-entry visas has changed has also played a role. Thus, employees now have more opportunities to travel outside the Kingdom without having to ask their employer’s permission each time they do so.
Plus, at the beginning of 2021, there is a new temporary work visa: it allows short-term workers to stay in the country for 90 days. Thanks to all these reforms, the country is opening up more and more to tourists.