Handbook of Research on Asian Entrepreneurship

Handbook of Research on Asian Entrepreneurship

Research Handbooks in Business and Management series

Edited by Léo-Paul Dana, Mary Han, Vanessa Ratten and Isabell M. Welpe

Asia is highly regarded as one of the fastest growing regions in the world, and this unique Handbook focuses on the internationalization process and entrepreneurial dynamics of small business within the continent. Using a clear and consistent style, the Handbook examines more than 40 countries in Asia and allows researchers to compare the environment for entrepreneurship, the internationalization of entrepreneurs and the state of small business in different Asian countries. The chapters are authored by well-known scholars who provide insight into how government policies have affected the internationalization of small firms in Asia.

Chapter 31: Saudi Arabia

Tim Rogmans

Subjects: asian studies, asian business, business and management, asia business, entrepreneurship, international business


Tim Rogmans 1 Introduction to Saudi Arabia The Kingdom of Saudi Arabia was founded in 1932 and has been ruled by King Saud and his descendants since then. Saudi Arabia has a population of 27.6 million, including an expatriate workforce of nearly 6 million. The country’s population is young and growing at a rapid rate of 3 percent per annum, with 38.2 percent of people being under 15 years of age. This makes education and tacking unemployment a major challenge, both today and in the next decade when millions of young people will enter the labor force. Saudi Arabia holds approximately 25 percent of the world’s proven oil reserves and is rich in other natural resources such as natural gas, iron ore, gold and copper. In order to reduce dependence on oil and to provide economic opportunities for its young population, Saudi Arabia has embarked on a major economic diversification and liberalization drive. Saudi Arabia joined the World Trade Organization (WTO) during 2005 and liberalized key economic sectors during the years preceding membership. Previously monopolistic sectors such as banking, insurance, telecommunications and real estate have now opened up to domestic and foreign competition. With a per capita gross domestic product (GDP) of US$13 800, Saudi Arabia is a middle-income country. The economy is growing rapidly at a rate of between 4 and 5 percent per annum, owing to population growth, economic liberalization, foreign direct investment (FDI) and the construction of major economic cities across the country. Liberalization and growth...

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