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Saudi Arabia
- Recruitment landscape
- Economic indicators
- Labor market
- Working life
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Saudi Arabia
Saudi Arabia, with a GDP of $1.07 trillion, ranks as the 19th largest economy globally. Its key industries include crude oil production, petrochemicals, and construction. With a moderate working population and an unemployment rate of 4.9%, it has a stable labor market. The country has a flourishing recruitment industry, albeit with gender participation disparities.
Saudi Arabia'S
AGENCY LANDSCAPE
600
Agencies operating in Saudi Arabia
A high number of agencies indicates a mature recruitment industry, marked by strong talent demand, established labor laws and economic stability.
16-22%
Typical fee range
Countries with higher fees imply finding talent is harder to find whilst lower fees indicate a high-volume, commoditized market.
Saudi Arabia'S
FEATURED AGENCIES
Axiom Global Technologies, Inc.
Hays
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Saudi Arabia'S
GROSS DOMESTIC PRODUCT (GDP) RATING
19
WORLD RANKED
Saudi Arabia ranks 19th in the world by current economic output
$1.1T
NOMINAL GDP (US$)
GDP reflects the overall size and economic strength of the country’s economy.
9
EMEA RANKED
Saudi Arabia is the 9th biggest GDP in EMEA out of 109 countries in the region
GDP GROWTH (%)
The above chart compares how Saudi Arabia's GDP has grown, compared to the rest of the world and the EMEA region in the last 7 years.
Positive growth indicates an expanding economy, while negative growth or recession signifies economic contraction. Strong growth can encourage hiring, but slower growth might lead to freezes or layoffs, influencing talent sourcing as businesses adapt to changing market conditions and demands.
Saudi Arabia'S
CURRENCY AND CODE
SR
Country currency
SAU
Country ISO code
Saudi Arabia'S
INFLATION RATE
2.3%
CURRENT RATE
No change
Inflation represents the rate at which prices rise and purchasing power diminishes. High inflation may prompt employees to seek higher wages, potentially impacting company profitability. This situation could lead to budget constraints or hiring freezes, which might influence talent availability and sourcing strategies.
Saudi Arabia'S
COST OF LIVING
COST OF LIVING INDEX EXPLAINED
The cost of living has a direct impact on salary expectations and the competitiveness of compensation packages. It can influence the appeal of certain locations-while high-cost areas may attract highly skilled professionals looking for higher salaries, lower-cost areas can appeal to companies looking to minimize salary expenses or candidates seeking a better work-life balance.
Saudi Arabia'S
LABOUR STATISTICS
33M
POPULATION
With a population of 33,413,660, Saudi Arabia is a medium sized country by global standards. Saudi Arabia's youth population is close to the world average, suggesting a consistent influx of new workers, but may not see any significant growth. The working population in Saudi Arabia is just above the world average, indicating a moderately strong labor market with a sufficient supply of workers to meet current economic needs. Saudi Arabia's elderly population is just below the world average, suggesting a manageable dependency ratio, allowing for a relatively larger workforce compared to retirees.
Saudi Arabia'S
RELIGION
Religion
In religiously diverse countries, a broad sourcing and engagement approach whilst appealing to inclusive practices resonates with this candidate market. In contrast, in a homogeneous religious environment, understanding dominant cultural norms is often more important when engaging with talent.
Saudi Arabia'S
UNEMPLOYMENT RATE
4.9%
CURRENT PERCENTAGE
▼0.71% REDUCTION
Saudi Arabia's unemployment rate is healthy, indicating a well functioning labor market with good job opportunities for most people. Between 2022 and 2023, there was a moderate decrease, suggesting a positive shift toward better economic stability and improvement in job availability
Saudi Arabia'S
TOP PERFORMING INDUSTRIES
Top industries
Crude oil production
Petroleum refining
Basic petrochemicals
Saudi Arabia'S
GENDER DEMOGRAPHICS
RATIO OF MALES TO FEMALES (BY AGE)
LABOUR PARTICIPATION BY GENDER (%)
80
/
35
Male | Female
In Saudi Arabia there is a large gap in participation rates between males and females, indicating significant structural or cultural barriers preventing more equal gender parity.
Saudi Arabia'S
WORKING LIFE
40HRS
Average working full time week
Standard work is 8 hours/day, 40 hours/week, with extended possibilities. Ramadan work hours are reduced to 6/day. Overtime is paid at 150% of the hourly rate, with a cap of 481 hours/year. Managerial staff may get time off instead; written consent for overtime is required.
Saudi Arabia'S
TOP BENEFITS
10WEEKS
Maternity leave
Maternity: 10 weeks paid leave at 100% salary; 4 weeks pre-birth. Paternity: 3 days paid leave post-birth at full pay. No parental leave law in Saudi Arabia.
60DAYS
Sick leave
Employees get up to 60 days paid sick leave: 100% salary paid by the employer for the first 30 days, followed by 75% of the base salary for days 31-60, also paid by the employer.
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