Sunday , April 11 2021

$ 44.8 billion in operating income for Saudi Telecoms in a year



The number of ICT sector companies reached 11415 in 2017, compared with 11,650 in the previous year 2016, a 2 percent decline, equivalent to 235 companies.

Despite the decline in the number of companies, operating income for sector companies grew by 238 percent more than double from SR 49.67 billion in 2016 to 167.9 billion riyals in 2017.

According to a unit analysis report in the newspaper "Economy" based on the results of the sector annual survey prepared by the General Authority for Statistics, the level of completion of this sector in 2017 was around 64.1%, up from 58.1% in 2016.

Advertisement

The number of Saudis working in this sector was 78,984 thousand in 2017, compared to 53.49 thousand employed in 2016. In 2017, the number of Saudis working in this sector increased 47.7% to 25,496.

The number of foreign workers in this sector reached 44.28 thousand in 2017 compared to 38.52 thousand employed in 2016. Thus, the total number of Saudis and foreign workers reached 123.27 thousand in 2017 compared to 92 thousand workers in the year 2016

The number of activities in this sector is 19, with the highest rates of Emirati and other activities, 85.1 percent and 80 percent respectively in 2017.

"Reform of telecommunications equipment" was 24.3 percent, "software deployment" 26.3 percent, manufacturing consumer electronics 26.5 percent, "electronic equipment, communication equipment and parts" "with 26.5 percent.

In terms of employee compensation, the value for 2017 amounted to around 11.46 billion riyals compared to 6.46 billion riyals in 2016, up 77 percent.

Despite this increase, which is somewhat higher in compensation, the average compensation per worker only increased by 32.4 percent, equivalent to 1,871 riyals per month to 7746 riyals per month in 2017 compared to around 5849 riyals per month in 2016.

According to the analysis, the increase in employee compensation during 2017 was 77 percent because the increase in employment in this sector was the main cause of higher compensation, while higher average monthly compensation was a secondary cause of higher compensation.

* Economic Report Unit

© 2018


Source link