Vision 2030 represents one of the most ambitious economic transformation agendas of the twenty-first century. Launched by Saudi Arabia’s leadership, this long‑term strategy is designed to diversify the Kingdom’s economy, reduce dependence on oil revenues, and unlock new sectors of sustainable growth. With over SAR 1.313 trillion approved for the 2026 state budget focused on Vision 2030 objectives, and projected non‑oil revenues reaching SAR 457 billion in 2026, the scale of economic transformation is staggering and unprecedented in the region.
At the heart of executing initiatives valued at well over $100 billion from industrial expansion to tourism and digital innovation is the disciplined use of feasibility studies. These comprehensive evaluations provide the evidence base needed for confident decision‑making, helping public and private stakeholders identify risks, quantify outcomes, and chart the most efficient pathways to success. In this context, engaging a seasoned feasibility study consultant is not optional but essential for ensuring that Vision 2030’s scale and ambition translate into measurable impact.
What Is a Feasibility Study and Why It Matters for Vision 2030
A feasibility study is a structured investigation into the viability of a proposed project, program or investment. It goes beyond intuition and aspirations to examine economic, technical, legal, and operational factors that influence the likelihood of success. For Vision 2030, which spans sectors such as tourism, renewable energy, healthcare, logistics, and technology, feasibility studies serve five critical functions:
Demand and Market Assessment
A feasibility study evaluates whether there is sufficient demand to justify a project. For example, tourism and entertainment sectors in Saudi Arabia are expected to host over 18 million visitors by 2026, contributing more than SAR 250 billion to GDP data that strategic planners use to gauge market potential and return on investment.
Financial and Economic Modeling
Feasibility analyses project costs, revenue streams, cash flows and profitability. They help national planners estimate returns on megaprojects and determine optimal financing structures. This is crucial when Vision 2030 aims to mobilize hundreds of billions of riyals in both public and private capital.
Risk Identification and Mitigation
Every large‑scale project carries uncertainties. Feasibility studies systematically identify risks related to regulation, supply chain, environmental impact, and stakeholder expectations. By quantifying these risks, decision‑makers can design mitigation strategies that protect investments over long horizons.
Technical and Operational Evaluation
This part of the study assesses whether the required infrastructure, technology and human capital are available to make the project work. For instance, Saudi Arabia’s push to localize military and industrial production has seen localisation rise significantly across sectors, highlighting the importance of operational readiness in national strategy.
Policy and Regulatory Alignment
Feasibility studies ensure that goals align with legal and policy frameworks. Vision 2030’s vast regulatory reforms including instant company registration and investor protections are shaped by prior assessments of what will attract the most investment.
In each of these areas, an experienced feasibility study consultant brings a combination of technical expertise, analytical rigour, and contextual insight that enhances the quality and reliability of conclusions.
Feasibility in Practice: Case Studies from Vision 2030
Saudi Arabia’s Vision 2030 has already recorded impressive milestones. According to the official progress report, 85 percent of initiatives have been completed or are on track, and 93 percent of key indicators are on schedule or beyond target achievement. These metrics reflect a systematic approach to planning and implementation one that relies heavily on pre‑investment feasibility evaluations.
One example is the rapid industrial licensing trend, where over 83 industrial licenses were issued and 58 new factories began operations with significant investments in mid‑2025. Feasibility studies for these ventures helped estimate market requirements, assess environmental constraints and forecast financial performance before capital was committed.
Another area where feasibility plays a critical role is infrastructure megaprojects. Some projects, such as the iconic Mukaab in Riyadh, were temporarily suspended in 2026 for reassessment of financial viability amid shifting priorities within the Public Investment Fund. This pause underscores the value of revisiting feasibility assumptions when conditions evolve, ensuring that strategic objectives remain aligned with fiscal realities.
Quantitative Impact: What Data Tells Us
According to recent projections, the non‑oil economy of Saudi Arabia is expected to grow by approximately 6.1 percent in 2026, driving broader economic resilience and underscoring the success of diversification efforts. Non‑oil sectors’ contribution to GDP has exceeded 50 percent of total economic output, reflecting a marked shift in the Kingdom’s economic structure.
Feasibility studies help validate whether such growth projections are achievable and sustainable by examining sector‑specific variables ranging from labour force dynamics to capital availability. They also inform policymakers about potential bottlenecks, such as supply chain disruptions or regulatory hurdles.
Envisioned targets such as attracting 150 million tourists by 2030, increasing private sector contribution to GDP, and expanding renewable energy installations all depend on reliable feasibility assessments that scrutinise cost structures, timeline requirements, and revenue potential before policy interventions and funding approvals are granted.
The Role of Feasibility Studies in Risk Management
Large national programmes involve considerable risk, especially when they cover areas like energy transition, digital transformation, urban development and climate adaptation. Feasibility studies enable planners to quantify these risks through robust sensitivity analysis. They outline scenarios that range from conservative to optimistic, testing assumptions about demographic shifts, price fluctuations, technology adoption, and regulatory changes.
In the context of Vision 2030, risk assessment has been pivotal in charting a path through global economic volatility. The Saudi finance ministry expects a manageable fiscal deficit of 3.3 percent of GDP in 2026, supported by sustainable non‑oil growth. Feasibility reports help determine whether strategic spending levels will deliver the desired outcomes without overstretching public finances.
Furthermore, by identifying specific risk factors infrastructure cost escalation, labour shortages, or environmental constraints feasibility studies inform contingency planning. This ensures that strategic initiatives can adapt to inevitable challenges while maintaining the core vision of economic diversification.
Strategic Decision Making and Stakeholder Alignment
At a macro level, feasibility studies inform government policy direction, bond issuance strategies and international investor engagement. They contribute to clearer communication with stakeholders by providing detailed evidence on projected benefits and impacts. For private investors and global firms looking to participate in Saudi markets, feasibility analyses offer transparency and predictability critical ingredients for attracting foreign direct investment in high‑growth sectors.
For example, fee‑based infrastructure projects and public‑private partnerships often hinge on feasibility findings that demonstrate viable revenue streams and social return on investment. By presenting quantifiable results, feasibility studies build confidence among stakeholders and reduce informational asymmetry that can slow decision‑making.
Building Institutional Capacity for the Future
As Vision 2030 progresses, institutional capacity to conduct and interpret high quality feasibility studies has expanded within the Kingdom. Government agencies, private consultancies and academic institutions are increasingly adopting data‑driven approaches, integrating sophisticated modelling techniques and scenario simulations that were once available only in advanced economies.
This institutional maturity reflects a broader commitment to evidence‑based policy and investment planning. It also enables Saudi Arabia to scale its strategic initiatives with higher confidence and agility. An experienced feasibility study consultant contributes not only technical analysis but also capacity building, ensuring that local stakeholders acquire.
Feasibility studies have become indispensable to Saudi Arabia’s Vision 2030 implementation framework. They provide the analytical foundation for high‑impact decisions, helping policymakers and investors navigate complex economic landscapes while balancing ambition with pragmatism. Drawing on comprehensive market analysis, risk assessment, financial modelling and operational evaluation, feasibility studies minimise uncertainty and enhance the likelihood of sustainable success.
Whether in the tourism sector aiming for 150 million visitors by 2030, the burgeoning industrial ecosystem, or transformative urban developments, strategic feasibility assessments ensure that Vision 2030 remains grounded in reality while pursuing its transformative goals. Engaging a feasibility study consultant at key decision points empowers stakeholders to make informed choices that align with national objectives and maximise returns.
As the Kingdom continues its journey towards Vision 2030, rigorous feasibility work will remain central to shaping resilient, innovative and economically vibrant futures. The role of a skilled feasibility study consultant will, therefore, continue to be a critical asset in translating ambitious plans into measurable outcomes.
Finance Advisory 