The Saudi Arabia fintech market size reached approximately USD 35.10 billion in 2023 and is assessed to grow at a CAGR of 13.7% between 2024 and 2032 to attain a value of around USD 74.80 billion by 2032. 

Vision 2030’s objectives are to increase the number of FinTech companies operating in the Kingdom from 82 to 230 by 2025 and to increase the share of digital transactions to 70% by the same year. Rapid growth has been witnessed in the past five years from roughly zero to 150 companies in the fintech sector with a value of $1.07 billion.

Saudi Arabia has enacted over 600 economic reforms since the launch of the Vision 2030 blueprint in a bid to attract  $3.3 trillion of cumulative investment between 2021 and 2030 as part of the National Investment Strategy.

The kingdom has managed recent investments through its $650 billion Public Investment Fund (PIF)—the world’s 5th-largest sovereign wealth fund with assets under management around $700 billion.

The value of the Saudi financial market is $2.6 trillion and is ranked 9th among the largest stock exchanges in the world for value by the end of 2022 and 4th place among the G20. Moreover, Saudi Arabia is the largest Islamic finance market, with total assets exceeding $830 billion.