Saudi Arabia's Efforts towards Knowledge-Based Economy

Abstract

This research aims to shed light on the concept and indicators of the knowledge economy and reviewing the knowledge economy indicators in Saudi Arabia and the Kingdom's efforts in promoting the knowledge economy in recent decade. To achieve the objectives of the research the descriptive analytical method has used. We observed the low level of the knowledge economy index in Saudi Arabia,due to a lower level in the sub-indices. To promote a high level of knowledge economy index in Saudi Arabia, the following policies should be taken: increasing spending on research, focusing on human resource development by education and training, developing information and communications technology infrastructure, reviewing and developing regulations and legislations affecting the operations of the dissemination of knowledge, increasing the attention for transforming innovations into practicable applications in production processes, and finally, make the community aware of the importance of education and training so that new knowledge is adopted and put into practice.