As part of the partnership between the Kingdom of Saudi Arabia -represented by the National Competitiveness Center- and the World Bank Group, the Knowledge Hub (K-Hub) organized a workshop titled “The Gulf Economic Update (GEU)“ in Riyadh today. The workshop, which aimed to enhance the utilization of digital transformation to improve productivity and build a sustainable & resilient economy, saw the participation of 44 officials from 16 government entities and experts from the World Bank Group.
The workshop featured a review of the key findings of the latest Gulf Economic Update, titled “The Gulf’s Digital Transformation - A Powerful Engine for Economic Diversification.” Discussions also addressed the path forward for economic diversification in Saudi Arabia and the wider GCC region and explored how digital transformation can be further leveraged to enhance productivity, create jobs, and build a sustainable & resilient economy in line with Saudi Vision 2030.
The workshop was attended by Dr. Hoda Youssef, Lead Economist for GCC, World Bank, Dr. Muhammad Khudadad Chattha, Senior Economist at World Bank Group, and Mr. Hunt La Cascia, Senior Digital Specialist at World Bank Group, alongside officials and experts from relevant government entities concerned with economic diversification and digital transformation in Saudi Arabia.
The first session, “Macroeconomic Outlook and Diversification Progress,” moderated by Adnan Ashraf Ghumman, Senior Economist at Knowledge Hub, highlighted Gulf Economic Update (GEU) key findings on regional economic trends and diversification achievements, as well as key challenges and opportunities for economic diversification across GCC countries.
The second session, “Digital Transformation as an Engine for Growth,” focused on Gulf Economic Update (GEU) insights on digital transformation and leveraging digital transformation and AI for a diversified economy. The session was moderated by Dr. Michel Rogy, Regional Practice Director at World Bank Group.
The Knowledge Hub is a partnership initiative between the Kingdom of Saudi Arabia, represented by the National Competitiveness Center, and the World Bank Group. Its establishment followed the Bank's designation of Saudi Arabia as global point of reference for knowledge and the dissemination of economic reform culture. This recognition stems from the Kingdom's pioneering experience in implementing transformative economic reforms, which now serve as a replicable model for countries worldwide seeking to enhance their competitiveness.
