By the end of June this year, private sector employment in Saudi Arabia reached 11.4 million, marking a 1.24% increase from April. Amid this boost in the private sector, the Saudi Ministry of Commerce recorded over 120,000 commercial registrations during Q2 2024, a 78% year-on-year increase.

The data revealed that a total of 121,521 official identification cards for businesses were issued during the second quarter, up from 68,222 in Q2 2023.

Key sectors that saw growth include e-commerce, which experienced a 17.47% annual increase in issued records, reaching 40,697 registrations. Container handling services grew by 48%, with 2,457 registrations, while logistics services saw a 76% increase, amounting to 11,928 registrations.

Urban and suburban passenger transportation, arts, entertainment, recreation, and short-term accommodation also saw increased registrations. Additionally, cloud computing services, e-gaming, mining and quarrying, and the manufacture of pharmaceuticals and medicinal products experienced growth in registrations.

Meanwhile, artificial intelligence (AI) commercial registrations surged by 53%, totaling 8,948. Riyadh led in the number of registrations with 52,192, followed by the Eastern Provinces with 20,148 and Makkah with 18,904.

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