Editing Economy of Saudi Arabia (section)

==Private sector==
Saudi Arabia's private sector is dominated by a handful of big businesses in the service sector, primarily in construction and real estate, such as [[Olayan Group|Olayan]], [[Zamil Industrial|Zamil]], [[Almarai]], [[Mobily]], STC, [[SABIC]], Sadara, [[Halliburton]], [[Baker Hughes]], [[Flynas]], [[Hilton Worldwide|Hilton]], Zain, Yanbu Cement, Alhokair, [[MBC Group|MBC]], Mahfouz, [[Al-Rajhi Bank|Al Rajhi]], and Alfanar. These firms are "heavily dependent on government spending", which is dependent on oil revenues.<ref name=house-165>{{cite book|author=House, Karen Elliott|title=On Saudi Arabia: Its People, past, Religion, Fault Lines and Future|publisher=Knopf|year=2012|page=165}}</ref>

From 2003 to 2013, "several key services" were privatized—municipal [[Water supply and sanitation in Saudi Arabia|water supply]], electricity, [[Telecommunications in Saudi Arabia|telecommunications]]—and parts of [[Education in Saudi Arabia|education]] and [[Health care in Saudi Arabia|health care]], traffic control, and car accident reporting were also privatized. According to Arab News columnist Abdel Aziz Aluwaisheg, "in almost every one of these areas, consumers have raised serious concerns about the performance of these privatized entities."<ref name=Aluwaisheg>{{cite journal|last1=Aluwaisheg|first1=Abdel Aziz|title=When privatization goes wrong|journal=Arab News|date=29 September 2014|url=http://www.arabnews.com/news/464657|access-date=29 September 2014|archive-date=10 October 2017|archive-url=https://web.archive.org/web/20171010082906/http://www.arabnews.com/news/464657|url-status=live}}</ref>

A relatively small sector until a boom in the 1980s,<ref>{{cite news |last= Gassem|first= Lojien Ben|date= September 11, 2021|title= The growth of Saudi Arabia's food and beverage industry — from local startups to multinational chains|url=https://www.arabnews.com/node/1926611/saudi-arabia |work=[[Arab News]] |location= [[Riyadh]]|access-date=October 5, 2023}}</ref> the food service industry in Saudi Arabia today is valued at around $13 billion.<ref>{{cite web |url= https://www.trade.gov/market-intelligence/saudi-arabia-food-service-sector-opportunities-us-companies|title= Saudi Arabia food service sector opportunities for U.S. companies|author=<!--Not stated--> |date=August 9, 2023 |website=trade.gov |publisher= [[International Trade Administration]]|access-date=October 5, 2023 }}</ref>

To provide the best support for the private sector and entrepreneurs, the kingdom announced a decision approved by the Saudi Cabinet in July 2019 allowing businesses in the country to be given the option to remain open 24 hours a day.<ref>{{Cite web|url=http://www.arabnews.com/node/1526731/saudi-arabia|title=Cabinet gives go-ahead for businesses to open 24/7 in Saudi Arabia|date=17 July 2019|website=Arab News|language=en|access-date=18 July 2019|archive-date=17 July 2019|archive-url=https://web.archive.org/web/20190717135848/http://www.arabnews.com/node/1526731/saudi-arabia|url-status=live}}</ref> As of 2023, the average monthly salary for Saudis working in the private sector is [[Saudi riyal|SR]]9600, up 45% from SR6600 in the year 2018.<ref>{{cite news |date= September 19, 2023|title= Average monthly wages of Saudis in private sector jump 45% to SR9600 in 5 years|url= https://saudigazette.com.sa/article/635980/SAUDI-ARABIA/Average-monthly-wages-of-Saudis-in-private-sector-jump-45-to-SR9600-in-5-years#:~:text=RIYADH%20—%20There%20has%20been%20an,by%20the%20National%20Labor%20Observatory.|work=[[Okaz]]/[[Saudi Gazette]] |location= [[Riyadh]]|access-date=October 11, 2023}}</ref>