Saudi ride-hailing sector nets over $292m in first nine months
RIYADH, November 13, 2024
Saudi Arabia's ride-hailing industry witnessed solid growth during the first three quarters of the year with over 51.8 million trips facilitated by 46 licensed such services across the kingdom, reported SPA.
This represents a 12% increase over the same period in 2023, with the third quarter alone showing a remarkable 41% growth over the second quarter.
The surge in ride-hailing activity has directly benefited Saudi drivers, who collectively earned over SAR1.1 billion ($292 million), it stated.
Many Saudi nationals are capitalising on this opportunity by working as full-time or part-time drivers, aligning with the government's vision of empowering citizens and fostering economic growth, said the SPA report.
Riyadh emerged as the leading city in terms of ride-hailing demand, accounting for 39% of the total trips. Makkah and the Eastern Region followed closely with 25% and 16%, respectively.
This increased reliance on ride-hailing services underscores their convenience, speed, and safety, it stated.
Senior Transport General Authority (TGA) officials said they have been encouraging Saudi youths to seize the opportunities presented by the ride-hailing industry.
By availing themselves of financial support from the Human Resources Development Fund (Hadaf) and embracing flexible work arrangements, individuals can contribute to the sector's continued growth and improve their financial well-being, they added.
