Saudi Arabia Cuts Salaries for Foreign Talent Amid Economic Transformation

Saudi Arabia is scaling back salaries for foreign talent to attract top professionals in sectors like construction and manufacturing, aligning with its Vision 2030 to diversify the economy. The move aims to reduce reliance on oil income, create jobs, and boost industries.

The country's $925 billion Public Investment Fund has faced challenges, prompting a shift towards sectors like logistics and mining. Companies are now offering more restrained salary packages to foreign recruits, reflecting a broader pivot in the Saudi job market.