Blue Flower

Номинация "Перевод экономического текста"


Saudi Women Drive Economic Boom

By Shelley Goldberg


In ending its ban on female drivers, the Saudi Arabian government has implemented a change that many believe will lead to significant positive impacts on the kingdom's economy.

The end of the ban, effective June 24, 2018, is a part of the kingdom's Vision 2030 program of reform. The goals of Vision 2030 are: "To rise from our current position of 25 to the top 10 countries on the Global Competitiveness Index; to increase foreign direct investment from 3.8% to the international level of 5.7% of GDP; and to increase the private sector's contribution from 40% to 65% of GDP." The Vision aims to make Saudi Arabia a "vibrant society, a thriving economy and an ambitious nation that is effectively governed and responsibly enabled."

Other aspects of Vision 2030 are focused on human rights. It states, "Together we will continue building a better country, fulfilling our dream of prosperity and unlocking the talent, potential, and dedication of our young men and women." While not a direct contributor to output, with the introduction of women drivers, the economy saw an immediate uptick, as measured by the Tadawul All Share Index (TASI), a broad-based index of Saudi companies, as investors anticipated more women entering the workforce.

It seems that investors anticipate that allowing women to get behind the wheel will have a meaningful economic impact by encouraging Saudi women to explore employment opportunities without having to rely on others to get them there. As of 2017, according to the World Bank, only 22% of Saudi women participated in the workforce, compared with 79% of men.

According to the McKinsey Global Institute,  if women were to participate in the economy on par with men, their contribution would add $28 trillion, or 26%, to the global economy in 2025.

The movement allows for more freedom of choice and a broader participation in change and development. So how can investors jump in for the ride? Firstly, insurance companies such as AXA Cooperative Insurance Company (8250.SR) will benefit. AXA had 11% of the auto insurance market in the kingdom in 2017, up from 9% in 2016. Furthermore, auto producers, such as Toyota Motor Corporation (TM) and Hyundai Motor Company (HYMTF), sell the most number of cars in Saudi Arabia, and their sales figures should see dramatic improvement. The finance and banking and industries will also be a draw for women, as these institutions will able to expand without having to go overseas for talent.

The oil giant, Saudi Aramco, recently opened its own driving school for women, accommodating nearly 3,600 student drivers made up of employees and their relatives. The company's highly anticipated IPO is slated for 2019, and this move should only help its valuation.

Finally, women in Saudi Arabia, for the first time, are working at airports, hotels, restaurants and retail stores. The Social Development Bank has proposed granting women low-interest loans to purchase private taxi cars to work with Uber, another highly anticipated IPO. Until then, a broad blend of Saudi multi-cap stocks can be found in the iShares MSCI Saudi Arabia ETF (KSA).


ЗАЯВКА на участие во всероссийском конкурсе перевода Тамбовского филиала РАНХиГС (заполняется полностью) 

 Заполненная заявка вместе с выполненной работой должна быть выслана на адрес Этот адрес электронной почты защищён от спам-ботов. У вас должен быть включен JavaScript для просмотра.

ФИО (полностью):


Дата рождения:


Место учебы, работы (наименование школы, ВУЗа полностью):


Специальность (для студентов):


Класс, курс:


Язык перевода:


Номинация участия:


Контактный телефон:


Контактный e-mail: