The Average Wage of Citizens in the Private Sector Increases in Saudi Arabia

The National Labor Observatory of Saudi Arabia found that the average wage of citizens in the private sector increased by more than 3 thousand riyals from 2018 to mid-2023, reaching more than 9,600 riyals.

Economic Growth and Reforms Contribute to High Wages

The Observatory pointed out that the high level of wages in Saudi Arabia is due to the economic growth and reforms the Kingdom has witnessed since the launch of the Kingdom’s Vision 2030 programs and initiatives, as well as the success of the support packages provided by the government during Corona. the pandemic, supporting and stimulating the competitiveness of the private sector, and the high attractiveness and efficiency of the Saudi labor market.

Increase in Salaries Over 20 Thousand Riyals

The Observatory stated in its report that the number of citizens receiving salaries of more than 20 thousand rials increased by 139% during the same period, from 84.7 thousand citizens in 2018 to 202.7 thousand citizens in the current year 2023, indicating that this is due to the upgrading of skills related to the labor market. Quality of jobs, efficiency of the working environment and high demand for specialized jobs.

Increase in Salaries Over 40 Thousand Riyals

The report shows an increase of 172% in the number of citizens receiving salaries of more than 40 thousand riyals during the same period, from 16 thousand citizens in 2018 to 44 thousand citizens in the current year 2023, revealing the reasons for this. The increase is the growth of leadership qualities among citizens, as well as an increase in the demand for competencies in large projects and companies, as well as a high demand for specialized jobs.

Source: RT