Play Qiddiya City, a major initiative under Saudi Arabia’s Vision 2030, has officially become a Destination Partner of the World Travel & Tourism Council (WTTC). This partnership marks a significant advancement in Saudi Arabia’s strategy to diversify its economy, improve tourism infrastructure, and establish itself as a global leader in leisure and entertainment. Strategically positioned...
Saudi Arabia has made headlines with a remarkable travel balance surplus of 50 million, highlighting its burgeoning tourism sector and signaling significant progress towards the economic goals outlined in Vision 2030. This surplus is not merely a financial achievement, but also a strong indication of the kingdom’s growing status as an international travel destination. This...
Inbound tourism spending in Saudi Arabia has reached an unprecedented SR153.61 billion ($40.95 billion) in 2024, representing a 13.82 percent increase compared to the previous year, according to the Saudi Central Bank. This surge has also elevated the Kingdom’s travel balance surplus to SR49.78 billion, marking a 7.81 percent rise from 2023. Furthermore, outbound spending...
Saudi Arabia is set to introduce significant updates to its Law of Commercial Register and Law of Trade Names effective April 3, 2025. These new laws, approved by the Ministry of Commerce in September 2024, aim to streamline the process of starting and operating a business within the Kingdom, while also alleviating financial burdens for...
A recent survey by PwC has revealed that 81 percent of CEOs in Saudi Arabia have embraced artificial intelligence (AI) within the past year. This statistic underscores the optimism among Saudi business leaders regarding their companies’ revenue growth, which they expect to outpace both regional and global averages in 2025. The Kingdom is establishing itself...
Saudi Arabia is set to expand its hospitality sector by adding 362 000 new hotel rooms by 2030. This ambitious project is part of a $110 billion investment aimed at enhancing the kingdom’s tourism and hospitality landscape, as detailed in data released ahead of the 2025 Future Hospitality Summit (FHS) Saudi Arabia. The expansion is...
The Department of Economic Development in Ajman (Ajman DED) has introduced a new project called the “Investor Statement,” designed to improve the investment climate in the emirate. The initiative aligns with Ajman Vision 2030’s goal of building a sustainable economy. The project will provide investors with regular electronic updates about their licences and permits. These...