Although the social shifts within Saudi Arabia's Vision 2030 reform program have opened up the country's economy, the kingdom's repressive and centralized political environment is unlikely to change, presenting significant business and investment risks. On March 30, the Saudi government released data showing that unemployment in the kingdom fell to a historic low of 8% in the last quarter of 2022 -- a mere percentage point away from the goal outlined in Riyadh's ambitious Vision 2030 diversification plan, which aims to hit 7% unemployment by the end of the decade. In an accompanying report, the government's statistics authority cited the inclusion of more women in the workforce -- another key Vision 2030 goal -- as the main driver of the country's recent uptick in employment. The unemployment data is the latest in several recent announcements highlighting the Saudi economy's remarkable progress toward meeting some of Riyadh's main reform goals, as...
