Saudi Arabia is renowned for its wealth, with many super-rich families and billionaires. The country features various neighborhoods acknowledged for its glamor and luxury, featuring some of the most costly real estate in the world. Saudi Arabia has been recognized as a hub of the oil industry. Each of its cities has industrial facilities that go beyond hydrocarbons and link in with the kingdom’s Vision 2030 objectives to decrease its reliance on oil and diversify its economy. The following are the top 10 richest cities in Saudi Arabia;
Top 10 Richest Cities of Saudi Arabia
According to the city’s contribution to the national economy, the following are the top 12 rich cities of Saudi Arabia;
- Dhahran
- Riyadh
- Khobar
- Jeddah
- Dammam
- Jubail
- Mecca
- Medina
- Yanbu
- Al Khafji
1) Dhahran
According to recent data, Dhahran is the richest city in Saudi Arabia. The headquarters of Saudi Aramco are based in Dhahran, the largest oil company in the world. In 2022, it ranked as the second-largest company in the world by revenue. Dhahran is one of the richest cities in the world and boasts a high GDP per capita. It operates as a significant administrative hub for the Saudi oil sector.
The city’s population has increased, and new infrastructure advances have resulted in significant development. Dhahran is affiliated with the Dammam Metropolitan Area, commonly referred to as greater Dammam, which contains the neighboring cities of Khobar, Dhahran, and Dammam. However, as the nation is diversifying its economy, it would be extremely interesting to see how other Saudi Arabian cities do regarding economic growth and prosperity
2) Riyadh
Riyadh is the largest city in Saudi Arabia. It is also the political and economic hub of Saudi Arabia. Many big corporations including Ma’aden (Mining Riyadh Public Company) and Red Sea Global are based in Riyadh. The construction, service, and real estate industries have mostly driven the economic development of Riyadh. It has one of the highest GDP per capita. Riyadh is one of the richest cities in the Middle Eastern region.
Further, it has a population of over 7 million and is a metropolitan city. Riyadh has recently become an increasingly popular vacation place for foreigners and remote workers worldwide. With its diverse culture, captivating sights, and outstanding facilities, Riyadh offers the perfect setting for short vacations and longer stays.
3) Khobar
Khobar, also known as al-Khubar is a city and province in the Eastern Province of Saudi Arabia. It lies on the Persian Gulf coast. As of 2022, the province had 658,550 inhabitants, while the city center had 409,549 people. Khobar is one of the richest cities of Saudi Arabia as it is one of the components of the ‘Triplet Cities’ area along with Dhahran and Dammam. The oil industry in this region is one of the major sources of wealth in this city.
Khobar is also regarded as a tourist town as the city is home to several beaches and resorts and its southern neighborhood borders Half Moon Bay, one of the top tourist places in Saudi Arabia. By night, the peaceful city transforms into a lively one, containing some of the kingdom’s biggest malls, including the al-Rashid Mall and the Mall of Dhahran.
4) Jeddah
Jeddah is the second-largest city and the commercial capital of Saudi Arabia. Jeddah is situated on the Red Sea coast in western Saudi Arabia. It continues to serve as a significant port for the past 1,500 years. It provides the primary point of entry to Mecca, the holiest city in Islam, which receives millions of pilgrims each year from every corner of the globe.
Jeddah is recognized in Saudi Arabia as an economic, commercial, and tourism center, but it remains a popular destination for the shareholders, particularly given its current focus on science and technology. Jeddah includes more than twenty colleges and universities including King Saud bin Abdulaziz University for Health Sciences, King Abdulaziz University, and King Abdullah University of Science and Technology.
5) Dammam
Dammam is situated on the east coast of Saudi Arabia on the Persian Gulf and borders Bahrain. It is one of the richest and largest cities in Saudi Arabia. Dammam is not only home to the largest port of the Gulf, King Abdul Aziz Sea Port, but it is also a major administrative nexus for Saudi Arabia’s oil industry. It also includes the administrative offices of many departments of government.
Dammam has a metropolitan population of 4.1 million approximately, this also includes Khobar and Dhahran (the headquarters of Saudi Aramco, the second-largest enterprise by revenue in the world). In addition to its international standing for its port and oil sector, Dammam is accessible by King Fahd International Airport, the world’s largest airport by land area.
6) Jubail
Jubail, also known as Al Jubayl in Arabic, is located on the Persian Gulf coast in the Eastern province. As of the year 2022, the city had 474,679 people. Jubail is one of the richest cities in Saudi Arabia. It is the center of the world’s biggest industries. SABIC, the fourth-biggest petrochemical corporation around the world and the largest in the Middle East is based in Jubail. The largest Independent Water and Power Project (IWPP) in the world is based there, generating 800,000 m3 of water and 2743.6 MW of electricity every day.
The Saudi government selected Jubail to be the birthplace of a new industrial metropolis in 1975, and since then the industries have flourished and contributed to the economic growth of Saudi Arabia. The biggest civil engineering project in the world at the moment is the Jubail Industrial City.
7) Mecca
Mecca or Makkah is the holiest city in Islam and the capital of Makkah province, located in the Hejaz region. It has a metropolis population and is the third most populous city in Saudi Arabia with 2.4 million population in 2022. 44.5% of the population are Saudi citizens and 55.5% are foreigners residing in the country.
However, Makkah is one of the richest cities in Saudi Arabia. During the Ḥajj pilgrimage every year, the number of pilgrims has tripled the number of population. The presence of Holy places in Mecca attracts millions of tourists every year. Mecca ranks in the top ten most visited cities internationally in 2023 with over 10.8 million foreign tourists. The city has other economic strengths as well such as the service sector. In addition, Mecca is a great place for the banking sector, upholstery, copper extraction, carpentry, and agriculture.
8) Medina
Medina is also considered one of the richest and most visited cities in Saudi Arabia. Other than religious and cultural importance, it has several key components which add to the economic significance of the city including agriculture, infrastructural development, and religious tourism. The number of hotels entertain the accommodation of pilgrims throughout the year ranging from budget establishments to luxury accommodations. Further, the modernization of public spaces, means of transportation, roads, and facilities to host religious events are contributing to the economic growth of the country in the long run.
9) Yanbu
Yanbu is one of the richest cities in Saudi Arabia, the most magnificent cities, located on the West Coast of Saudi Arabia. Yanbu is split into three areas Yanbu Al Nakhal, Yanbu Al Bahr, and Yanbu Industrial, all of which have unique distinctive features of their own. These industries play a crucial role in the economic growth of the city.
Yanbu Al Nakhal has a rich historical background and served as an interim point for convoys traveling between Yemen, Saudi Arabia, Egypt, and the Mediterranean Sea. On the other hand, Yanbu Industrial is home to oil facilities. Yanbu Al Bahr is also famous for being an amazing diving location, where you can swim in the Red Sea and explore its rich coral and variety of marine life.
10) Al Khafji
Al Khafji is an economically important city that is situated in the Eastern province of Saudi Arabia near Kuwait’s border. The oil reserves contribute to the economy of the city. Further, The Al Khafji Joint Operations (KJO) is an oil agreement between Saudi Arabia and Kuwait that manages the operations of oil between these two countries.
Further, Al Khafji has placed importance on environmental sustainability along with economic significance, in particular with the effects of the petroleum sector on the ecosystem of the city. The Khafji Solar Water Desalination Plant was started in 2020, as the world’s largest solar-powered desalination plant. This initiative shows the growing economic and sustainability commitment of Saudi Arabia.
Conclusion
In conclusion, the richest cities in Saudi Arabia contain important financial hubs that significantly enhance the economic development and progress of the country. Each city has a unique place in the economic landscape of the Kingdom of Saudi Arabia. The rapid development of cities such as Khobar, Dammam, and Dhahran illustrates the Kingdom’s efforts to diversify under Vision 2030, which seeks to reduce reliance on oil while boosting areas such as manufacturing, tourism, science, and technology. As the country’s economy evolves, these cities will continue to be the leading competitors in its economic development, impacting not only Saudi Arabia’s development but also its international appearance.
FAQs
Is Jeddah richer than Riyadh?
No, Jeddah is not richer than Riyadh. Jeddah is one of the richest cities of Saudi Arabia as it is the commercial center and a gateway to Mecca, but Riyadh is the wealthiest city and has political and economic significance.
What Are the Factors That Make These Cities Rich?
Many factors contribute to the economic growth of these cities including oil and gas resources and industry, finance, real estate development, tourism, and infrastructural investments by the government.
How Does Tourism Contribute to the Economy of the Cities of Saudi Arabia?
Madina and Mecca significantly benefit from tourism due to millions of pilgrims visiting from every corner of the world.