Saudi telecom, information technology, and postal markets hit $65.6bn in 2020

DUBAI: Saudi Arabia recorded an increase in its communication-related industries in 2020, a government regulator said, owing to a wider national campaign to improve connectivity across the Kingdom.
Saudi Arabia’s telecommunications, information technology (IT), and postal markets were valued at SR246 billion ($65.6 billion) in 2020, according to data from the Communications and Information Technology Commission (CITC), the Saudi Press Agency said.
The Kingdom’s telecommunications market reached SR70 billion in the same period, with Mohammed bin Saud Al-Tamimi, CITC’s governor, describing it as the most developed in the Middle East and North Africa region.
The information technology market was valued at SR64 billion, while the postal market stood at SR6.4 billion, the governor revealed at the annual Information and Communications Technology (ICT) Indicators Forum in Riyadh.
Al-Tamimi said the Kingdom’s IT and postal sectors account for 5.5 percent of the Kingdom’s GDP.
Saudi Arabia has been investing heavily in its digital infrastructure as it seeks to diversify its income sources, veering away from oil dependence.