Surge in GCC Citizen Mobility and Market Access in Saudi Arabia for 2024

Saudi Arabia has reported a notable increase in the entry of Gulf Cooperation Council (GCC) citizens, with a rise of 5.83 percent in 2024, bringing the total number of arrivals to approximately 8.8 million, as indicated by recent data from the General Authority for Statistics (GASTAT). This increase in arrivals corresponds with a similar number of departures, illustrating a trend of ongoing mobility within the region. The data is part of the 2024 Gulf Common Market Indicators Report, which assesses advancements in economic and social integration among the GCC member states. The report highlights enhanced cross-border movement, improved access to investment opportunities, and greater participation in public services within Saudi Arabia. Specifically, it notes that 988 GCC students were enrolled in public higher education institutions in the Kingdom during 2024, while enrolment in public general education reached 5,036, reflecting the active engagement of GCC citizens in various educational levels. Additionally, the report reveals that the number of companies available for GCC citizens to trade shares in Saudi Arabia has reached 247, which aligns with the total number of joint-stock companies listed on the Saudi stock market. These companies collectively possess a capital of approximately SR850 billion (around $227 billion), indicating the openness of the Saudi stock market to GCC investors. The 2024 indicators underscore the significance of facilitating the free movement of goods, services, capital, and labor among GCC states, which is in line with the long-term goals of the bloc to enhance economic, social, and legislative integration. GASTAT emphasized that the indicators were derived from administrative data provided by various national entities, including ministries and financial institutions, ensuring the reliability of the findings to support collaborative economic policymaking across the GCC.

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