'If you empower people and you give them the space to lead, they will take that drive and they will deliver'
Economies seeking to stay competitive in a fast-changing global landscape must put human capital at the centre of their growth strategies, senior Saudi officials told the World Economic Forum (WEF) Annual Meeting 2026.
Speaking at the Saudi House during WEF, Princess Reema Bandar Al‑Saud, ambassador of the Kingdom of Saudi Arabia to the United States of America, said people will deliver if they are empowered and given the opportunity to lead.
"Human capital today is the key driver if you want a competitive modern economy," she said.
"If you empower people and you give them the space to lead, they will take that drive and they will deliver. And when you place the right people in the right place at the right time, absolute magic happens. The Kingdom is the place, we have the people, and the time is now."
Her comments came as policymakers and business leaders gathered in Davos to engage in discussions to address global issues, such as rising fragmentation and rapid technological change impacting the global economy.
Among the participants are nearly 850 of the world's top CEOs and chairs, several G7 leaders, numerous heads of state from G20 economies, and representatives from BRICS countries, according to the WEF.
Investment on people, private sector
Saudi officials positioned the Kingdom's own economic transformation as an example of how investment in people can lead to economic success.
"Our FDI is 5X what it was before Saudi Vision 2030; our local investors are voting with their own money, local investment has doubled, and we have reached the level of China and India in terms of capital formation as a percent of GDP," said Khalid A. Alfalih, Minister of Investment, during the opening Saudi House session.
Bandar I. Alkhorayef, Minister of Industry and Mineral Resources, highlighted the Kingdom's younger demographics as a strategic asset in this transition.
Youth, he noted, is becoming scarcer in developed economies, where ageing populations are reshaping labour markets and social spending.
By contrast, Saudi Arabia is "blessed with its youth."
Meanwhile, Faisal F. Alibrahim, Minister of Economy and Planning, linked human capital development to a broader shift in the Saudi growth model, in which the private sector and innovation play a greater role in job creation and productivity.
"Moving forward towards being more resilient and more sustainable, the private sector is playing a bigger role, a co-leading role; innovation and R&D are a bigger part of our economic activity, and we're connecting and integrating with global markets," he said.
This year's WEF is being held from January 19 to 23, under the theme "A Spirit of Dialogue."
