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CEOs in the Kingdom are among the most confident globally in business growth, according to KPMG’s Middle East CEO Outlook. Most Saudi-based business leaders (88%) are confident in their firm’s three-year outlook, compared to a global average of 79%, and all surveyed leaders plan to pursue M&As with at least a moderate impact over the next three years.
A different story for the national and global economy: 60% are optimistic about the national economy, compared to a global average of 81%, while confidence in the global economy stood at 52%. The numbers reflect “a balanced and realistic outlook” underpinned by solid macroeconomic fundamentals and diversification efforts under Vision 2030.
Leaders are aware of external pressures — including lower oil prices, softer global demand, and regional geopolitical risks — and are responding by strengthening resilience, accelerating non-oil revenue initiatives, and looking for new ways to attract private investment, according to the report.
CEOs are more cautious with AI, with AI integration ranking second among investment priorities at 36%, compared to 44% citing cybersecurity as they top priority. The vast majority (84%) say their organizations are ready to deploy AI responsibly, while 52% expect to see returns on their AI deployment within three years.
The talent pipeline is increasingly linked to AI, as 68% are restructuring job models and roles to cater to AI integration, in line with the global average. Overall, 68% of Saudi-based business leaders are looking to hire over the next three years, with 60% looking to recruit AI specialists and 68% deploying capital to retrain high-performing employees.
The Kingdom’s demographic structure continues to offer an advantage, as only 8% of Saudi CEOs referenced an aging workforce as a major challenge, compared with 26% globally, reinforcing the view that younger labor markets adapt more quickly to rapid technological change.
AI + ESG: The data shows that 88% of CEOs see AI as a tool in achieving sustainability goals such as advancing decarbonization and improving transparency, while 76% report that sustainability is already embedded in their corporate models.
