WEF26: ‘Human capital is the key driver of economic competitiveness’

For economies to remain competitive in the future, they must prioritize investments in human capital, Her Royal Highness Princess Reema Bandar Al-Saud, Ambassador of the Kingdom of Saudi Arabia to the United States of America, told the World Economic Forum (WEF) Annual Meeting 2026.

Speaking on a Saudi House panel, HRH commented: “Human capital today is the key driver if you want a competitive modern economy.”

She added: “If you empower people and you give them the space to lead, they will take that drive and they will deliver. And when you place the right people in the right place at the right time, absolute magic happens. The Kingdom is the place, we have the people, and the time is now.”

His Excellency Ahmed A. Alkhateeb, Minister of Tourism, said: “We set a 2030 goal of welcoming 100 million tourists annually. We reached that target seven years early, and since 2023 we have continued to exceed it annually along with sustained growth in tourist spend year-on-year.”

His Excellency Khalid A. Alfalih, Minister of Investment, commented: “Our FDI is 5X what it was before Saudi Vision 2030; our local investors are voting with their own money, local investment has doubled, and we have reached the level of China and India in terms of capital formation as a percent of GDP.”

His Excellency Mohammed A. Aljadaan, Minister of Finance, described how Saudi Vision 2030 has provided a blueprint for credible national transformation: “True reform is not measured by speed or early wins, but by whether it becomes permanent—changing how institutions and markets behave.”

His Excellency Bandar I. Alkhorayef, Minister of Industry and Mineral Resources, said youth is a resource in short supply in developed economies, adding that the Kingdom of Saudi Arabia is “blessed with its youth”.

His Excellency Faisal F. Alibrahim, Minister of Economy and Planning said: “Moving forward towards being more resilient and more sustainable, the private sector is playing a bigger role, a co-leading role; innovation and R&D are a bigger part of our economic activity, and we’re connecting and integrating with global markets.”

The Ministry of Economy and Planning announced that it will launch the SUSTAIN Platform in beta version in 2026 during a NextOn talk at Saudi House. SUSTAIN is an AI-enabled matchmaking partnership network designed to strengthen cross-sector collaboration and accelerate the delivery of sustainable development initiatives. The platform was developed in collaboration with WEF and Bain & Company.

The Quality of Life Program Center and UN-Habitat jointly announced the outcomes of the Quality of Life Initiative, a global platform that supports a people-centered approach to urban development.

SDM announced a partnership with Weill Cornell Medicine – Cornell University, called the Frontier Science for Human Health: A Saudi–U.S. Space Research Collaboration. The agreement focuses on advancing innovative space and computational biology technologies, with a focus on space research and human health missions.