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The last quarter of 2021 was a record-breaking one for Saudi Arabia as the country saw a 400% increase in foreign investment licence issuance compared to the same quarter of the previous year. Most of this investment was in the technology sector, with start-ups and SMEs seeing substantial growth.

Saudi Arabia is fortunate to have an abundance of oil resources. This has been the foundation of their economy for decades, allowing the Kingdom to become one of the world’s leading energy producers. However, since the 1970s, Saudi leaders have expressed a desire to move the nation away from total economic dependence on oil revenue. In 2016, Crown Prince Mohammed Bin Salman announced his Vision 2030 plan for the future of the nation. This agenda seeks to diversify the Saudi economy and increase private sector participation.

The cyber security landscape is constantly evolving, and businesses must stay ahead of the latest threats to protect their data and networks. In Saudi Arabia, the importance of cyber security is becoming increasingly clear as the country moves towards Vision 2030.

As the modern business world evolves, finance functions must keep up with the changing data privacy landscape. New regulations and legislations require organizations to take a proactive stance when it comes to protecting customer data. Finance leaders need to understand why realigning their operations and strategies is important, as well as how they can do so effectively.

The way in which brands communicate with their customers has drastically changed over the past two decades. Communication used to be extremely limited to one-off instances, such as the point of sale. Advertisement and marketing were one-way channels — potential customers saw your ads on print or tv, but they could not respond to them directly. Now in the digital era, communication channels with our clients are no longer confined to these singular and one-way interactions. Social media means that our clients can directly interact with our marketing channels, post comments and responses to our ads and message our marketing teams directly.

‘War’ is the only fitting description for the intensity of contest for labour skills and it’s getting even fiercer. The underlying problem is the shortage of available skills. That’s clearly seen in the fact that a record 57% of all mid-market companies now see this as a constraint to their growth, nearly twice the long-term average, as highlighted by Grant Thornton International’s Global Business Pulse.

The stampede of mid-market companies looking to expand internationally continues, despite the added challenges of transport costs and disruptions. The percentage of companies expecting to increase exports in the next 12 months remains high at 45%, while the percentage expecting to increase international revenue has risen 3 percentage points to 44%, according to Grant Thornton International’s Business Pulse.

We explore whether TMT businesses can seize the opportunities of growing demand, or if they will be held back by the challenges presented by regulation and access to talent.

From liquidity to debt and restructuring, we address the diverse and complex challenges faced by airlines, leasing companies and aircraft funds in particular. We also consider implications for employers and how financial planning for the medium and long term will be affected.

The gulf region requires a sustainable tax structure which will enable a diversified revenue strategy. Whilst VAT has been introduced across KSA, UAE, Oman and Bahrain, the recent announcement of income tax across Oman may further evoke realigned strategies across the region. We share our insights on the current tax structure, comparing with similar emerging economies, whilst providing insights on the tax structures which could be adopted for future resilience.

Whilst tech transformation has been a key driver of change across Saudi Arabia, particularly given its prominence within Vision2030, the accelerated adoption has been prompted by a sudden demand to facilitate remote working in response to the disruption caused by the pandemic. We explore the impact of the tech surge and how this will drive innovation across industries and the wider Kingdom.

Despite the set back caused by the pandemic, the G20 countries continue to act as a launchpad for businesses wishing to penetrate global markets in both a virtual and physical environment. This summarised guide highlights the strategic and commercial value which the G20 countries offer, supporting dynamic businesses to consider reigniting their growth path in new markets, which require diverse solutions, services and new innovative approaches.

For 17 years, Grant Thornton has been tracking the global progress of women in senior management. In this summary report we share the insights from the 2021 study, along with the progress being made across the Gulf, whilst highlighting the thoughts of key leaders.

In the immediate aftermath of COVID-19, businesses looked to improve their cash flow management and focus on day-to-day survival, leaning heavily on government support packages. But longer-term, businesses will need greater liquidity as they move towards a post-covid era. They will need to invest in adjusting to the changes, to sustain operations and stay competitive. Raising finance to do so will be essential. We share key insights relating to accessing finance

The COVID-19 pandemic presents extreme challenges to businesses and the competitive landscape will be a hot bed of innovation, quick pivots, divestments and acquisitions as businesses devise new models to recover growth. This insight explores how businesses need to navigate the market dynamics.

The global pandemic combined with economic uncertainty is changing the way people consume products and services – possibly forever. Businesses will become irrelevant to their customer base if they fail to understand the changing behaviours and priorities brought about by the pandemic. Understanding the customer’s new world has never been more critical. Mid-market businesses need to use this time to assess whether they have the right business intelligence and engagement tools to understand and meet their customers’ changing needs.