With the Kingdom’s real estate and infrastructure projects rapidly expanding, the need for an additional 20,000 hospital beds by 2030 is not just a prediction but a pressing necessity. This is to address the shortages and meet the demands of the surging population.
The Director of Colliers International’s health education presented the latest study on the nation’s healthcare landscape. The 36.5 million people living in the Kingdom and the aspirational Vision 2030 objectives, which seek to diversify the economy to lessen reliance on oil, are said to be the main forces behind major changes in a number of industries, including healthcare.
Saudi Arabia is not only one of the largest healthcare markets in the GCC but also in the region.
The prediction of Saudi Arabia’s population, currently comprising 39% foreigners and 61% locals, will surge to 43.7 million by 2030. This projection underscores the need for immediate development of healthcare infrastructure.
Amidst Saudi Arabia’s ambitions for rapid expansion and numerous new infrastructure projects, the figures may be a conservative approximation.
According to another report, by 2030, there will be 555,000 more residential units, along with 4.3 million square meters of retail space, 6.1 million square meters of commercial space, and 275,000 hotel rooms nationally.
Additional Read: Saudi Arabia Achieves WHO’s Top Regulatory Maturity Level
According to the experts, the number of beds—which was 78,600 in 2020—will have to increase to 98,000 by 2030. The investors in the Kingdom may find this a highly profitable venture. Projections suggest that the average revenue per hospital bed will rise from its current value of approximately $575,000 to $782,000 by 2030 due to inflation.
In the Kingdom, hospital bed income generates an average of $45.2 billion annually, which can increase to $76.7 billion if excess demand is satisfied.
According to Ahmed, the healthcare industry in the Kingdom is not just promising, but highly attractive, offering a wealth of opportunities for private sector developers and investors. This is thanks to the adoption of various legislative and financial incentives, such as 100% foreign ownership.
The nation’s healthcare sector is facing significant expansion challenges due to two main factors: the high cost of land and the restricted funding available for capital spending, particularly for the construction of hospitals.
Though a substantial amount of investment is needed, the Kingdom is moving toward promoting greater private-sector involvement in the healthcare industry. The experts suggest that there is still room for growth in the industry and pursuing programs for program expansion or finding new sources of finance for new projects.
Additional Read: The Future of Nursing in Saudi Arabia: Aligning With Vision 2030
The healthcare industry has grown significantly over the past several years, and that it is still one of the few industries that changes in the economy have not negatively impacted. Developers, investors, and operators can find numerous profitable prospects in Saudi Arabia’s healthcare business, particularly in the private healthcare domain. Still, there are obstacles such as high startup costs, trouble finding good medical professionals in general and nurses in particular, and financial limitations for newcomers.
Although there is a growing need for hospital beds in Saudi Arabia, hospitals and other healthcare facilities require a consistent supply of physicians and other healthcare workers in order to offer patients high-quality care. That’s where Dynamic Health Staff comes in – as a leading healthcare recruitment agency, we specialize in matching healthcare professionals to overseas opportunities, including in Saudi Arabia.
Our personalized approach ensures that we understand each candidate’s unique qualifications and aspirations. In order to guarantee a seamless transition and effective integration into new contexts, we offer extensive help throughout the recruitment process. With our assistance, healthcare professionals can make a reliable and fulfilling career move while also contributing to the healthcare needs of rapidly growing populations in destinations such as Saudi Arabia.
If you are interested in pursuing your nursing career in Saudi Arabia, contact us today at +919810017608 or enquiry@dynamichealthstaff.com for more details on how we can help you and match you with the desired job. We’ll assist you every step of the way. Subscribe to our newsletter to stay up-to-date with the latest industry trends and news.
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