Telecoms are going to be a big winner from Saudi Arabia’s reforms

Telecom revenue in Saudi Arabia forecast to reach $12.6bn in 2017 as the market opens up.

The local telecoms regulator, CITC, has unblocked voice-over IP (VoIP) on the likes of WhatsApp, Facebook Messenger, and Viber.

VoIP mobile voice users will more than double in Saudi Arabia by 2022 and will represent 49 percent of the population, according to GlobalData research.

CITC is considering awarding another mobile license in 2018, bringing the country’s telecoms companies up to four.

This is all a part of the country’s so-called Vision 2030, which will foster economic growth and diversification away from Saudi Arabia’s oil dependency.

The Kingdom is also expected to ramp up its international tech investments, investing in the likes of Virgin Galactic through its Public Investment Fund.