Riyadh: The percentage of women working in the startup technology sector in the Kingdom of Saudi Arabia (KSA) is higher than that in Europe, according to new research findings.
This came in a report released by Endeavor Insight. The report also found that the percentage of women in tech is higher than that of men.
According to reports, the participation rate of women in the tech sector stood at 28 percent in the third quarter of 2021, above the European average rate of 17.5 percent.
“Saudi Arabia has the potential to become a regional hub for tech entrepreneurship in the Middle East if more companies reach scale,” research showed.
The new research findings in the Endeavor Insight report are based on 70 interviews with tech entrepreneurs and more than 340 companies and their founders.
Saudi Arabia to increase women workforce ahead of vision 2030
For decades, Saudi Arabia had one of the lowest rates of female labor force participation in the world. The Middle-East region has always lagged behind the rest of the world when it comes to women and the job market.
In recent years, the participation of Saudi women has increased from 20 percent in late 2018 to 33 percent by the end of 2020.
Saudi Arabia’s crown prince Mohammed bin Salman plans to change economic and social rules as part of his vision 2030 plan to diversify the country’s economy.
The country in recent years adopted several reforms to empower women, including ensuring that women can drive cars, and enter playgroups, and stadiums. The recent reforms have also ensured that women are able to pursue occupations that were previously accessible only to men.