Saudi Arabia bolsters expat incentives as war complicates efforts to lure foreign talent   

Al-Monitor Pro Members

Samuel Wendel

Senior Market Research Analyst, Al-Monitor

Jan. 21, 2024

From athletes to entrepreneurs, Saudi Arabia is dangling new incentives in 2024 to attract talented foreigners to settle in the kingdom. On Jan. 10, Saudi Arabia launched five new so-called “premium residency” categories aimed at the world’s elite expats, the latest salvo in the kingdom’s broader quest to raise up Riyadh to rival Dubai as the region’s premier business and trade hub (alongside securing the talent needed to power ambitious megaprojects). These new long-term visas are more affordable than existing options, but Saudi Arabia faces ongoing roadblocks to convincing foreign professionals and investors to relocate — not least of which is the unsettling specter of war creeping closer to its borders.