Fri, 19 04 1442 | 04 Dec 2020

64 billion SAR is the total expenditure of private sector establishments on the Institutional Innovation in Saudi Arabia

 
According to the result of Institutional Innovation Survey, 2018
 64 billion SAR is the total expenditure of private sector establishments on the Institutional Innovation in Saudi Arabia
 
On Monday 13, 3, 1441 (November 11,2019), GASTAT released the results of ''Institutional Innovation Survey, 2018'' and published it on its official  website www.stats.gov.sa . The survey aims to provide necessary information to know the general direction of innovation activity in Saudi Arabia. it also provides data on the size of innovation in establishments and local market. Moreover, it gives an idea of the extent to which establishments embrace new ideas and innovation, and the most innovative facilities that embrace new innovation ideas.
 
Innovation is a new or improved product, process, organization or marketing method, which is very different from the previous products or processes of the facility, and that were provided to users, or that were used in the production process.
Innovation is measured in two ways: the first one is the measurement of product innovation, which is new or improved goods or services that have been created, It differs significantly from the previous goods or services of the entity that were operated in the market. The second one is the measurement of business innovation, a new or improved business process for one or more business functions that differ significantly from previous business processes that were used in the establishments.
 
 The results of the survey revealed that (28%) of the establishments provided product innovation, and (24%) of them provided process innovation, and (23%) of them provided innovation in organization, while (25%) of them provided in marketing. On the other hand, the results of the survey showed that (57%) of the establishments provided new or significantly improved services, while (43%) provided new or significantly improved goods. This does not include resale of goods purchased through the financial intermediation. 
The results of the Institutional Innovation Survey showed that the percentage of employees with a university degree and above was (45%) of the total number of employees in the establishments with innovation in the private sector. As the total expenditure on innovation in private sector establishments amounted to more than 64 billion SAR. And the spending on innovation reached (2.74%) of the total revenues of establishments which are interested in innovation in the private sector. 
 
The results of the survey showed that the total number of employees in establishments that are interested in innovation in 2018 registered (314,145) employees with a bachelor's degree and a higher diploma. As the total number of employees holding master's degree reached (160.26) employees. And the total number of PhD holders reached (5.232) employees.
 
 
 
 
 
 
 
 
1593