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º£½ÇÖ±²¥ sees record $41bn in inbound tourism spending as Vision 2030 projects come to life

º£½ÇÖ±²¥ sees record $41bn in inbound tourism spending as Vision 2030 projects come to life
Billboard in Dubai to promoting tourism in º£½ÇÖ±²¥. Shutterstock
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Updated 02 April 2025

º£½ÇÖ±²¥ sees record $41bn in inbound tourism spending as Vision 2030 projects come to life

º£½ÇÖ±²¥ sees record $41bn in inbound tourism spending as Vision 2030 projects come to life

RIYADH: Inbound tourism spending in º£½ÇÖ±²¥ surged to a record SR153.61 billion ($40.95 billion) in 2024, marking a 13.82 percent annual increase, according to data from the Saudi Central Bank.

The rise also pushed the Kingdom’s travel balance surplus to its highest annual level yet — SR49.78 billion — up 7.81 percent from the previous year. Outbound spending by Saudi residents rose 16.94 percent year on year, reaching SR103.84 billion.

In January, the Saudi Press Agency reported that the Kingdom welcomed 30 million international visitors in 2024, a 9.5 percent increase from the previous year. This influx of travelers is not merely transient, as they play a pivotal role in reshaping º£½ÇÖ±²¥â€™s economy and global image.

According to the latest Ministry of Tourism report, which covered the third quarter of 2024, non-religious tourism now accounts for the majority of international travel, signaling a broader appeal and longer stays as visitors explore the nation’s cultural, entertainment, and business offerings.

Tourism’s direct and indirect contributions — spanning sectors from transport to hospitality — brought the Kingdom’s total economic impact from travel and tourism to SR498 billion in 2024, according to the World Travel and Tourism Council. This represents 12.45 percent of gross domestic product, up from 11.5 percent the preceding year.

As part of Vision 2030, º£½ÇÖ±²¥ is undergoing a rapid transformation that places tourism and international investment at the heart of its future.




Tourists gather at the Elephant Rock geological site near AlUla, º£½ÇÖ±²¥. Shutterstock

Sweeping reforms, including 100 percent foreign ownership in key sectors, a streamlined investment law, and special economic zones, have made the Kingdom one of the most attractive destinations for global investors and travelers.

The Saudi government is not only making it easier to visit the Kingdom but is also actively promoting a wide range of offerings in the tourism sector.

Billions of dollars are being invested in a new era of high-end, culturally rich, and environmentally conscious destinations. Among them are the Red Sea Project, a luxury archipelago of sustainable resorts; NEOM’s Trojena, the Gulf’s first outdoor ski destination; and Diriyah, a historical landmark just outside Riyadh set to welcome 27 million visitors annually by 2030.

Cultural pillars such as AlUla, with its 200,000 years of history, and Jeddah’s Al-Balad Historic District, which is currently undergoing a major restoration, are also attracting global attention.

Mega-projects including Qiddiya, AMAALA, and Sindalah promise to deliver experiences ranging from world-class entertainment to luxury yachting.

Supporting this tourism boom is a rapid expansion in infrastructure. The Kingdom now boasts over 426,000 licensed hotel rooms, with an international hospitality chain presence that is expected to grow from 47 percent to 65 percent, according to Knight Frank. Brands including Accor, Hilton, and Marriott are all ramping up investments.

Accessibility is no longer a barrier, with º£½ÇÖ±²¥â€™s eVisa platform allowing travelers from 66 countries — including the US, UK, and Germany, as well as Japan, Australia, and China — to apply for a one-year, multiple-entry permit.

According to a recent report by the ministry, tourists can stay up to 90 days per visit, with access granted for leisure, Umrah, business events such as the Interenational Meetings, Incentives, Conferences, and Exhibitions Summit, and visiting friends and family. Hajj remains under a separate, seasonal visa system due to religious considerations.

Additionally, the Kingdom’s strategic geographic location— within six hours’ flight time of 40 percent of the world’s population— along with its emphasis on sustainable, high-end tourism, positions the nation as an increasingly significant and rapidly growing destination in the global travel landscape.

Leisure and business travel take center stage




º£½ÇÖ±²¥ now offers over 426,000 licensed hotel rooms. Shutterstock

º£½ÇÖ±²¥â€™s tourism sector is undergoing a noticeable transformation, with leisure and business travel now fueling much of the Kingdom’s inbound growth. While religious tourism continues to play a key role, the latest data shows that a broader, more diversified visitor profile is emerging.

By the third quarter of 2024, the Ministry of Tourism reported a clear shift in travel purposes: religious pilgrimages still accounted for 41 percent of inbound visits, but non-religious travel is gaining momentum.

Leisure tourism represented 24 percent of the total, followed by visits to friends and relatives at 22 percent, while business, education, and healthcare-related trips comprised the remainder.

This growing appetite for º£½ÇÖ±²¥â€™s tourism experiences is drawing in travelers and unlocking billions in investment.

Private sector funding in the Kingdom’s tourism industry climbed to SR14.2 billion in 2024, up from SR12 billion the previous year, according to Tourism Minister Ahmed Al-Khateeb as reported by Bloomberg in January.

Roughly 40 percent of that capital came from foreign investors, signaling rising global confidence in º£½ÇÖ±²¥â€™s ambitious tourism agenda.

Al-Khateeb highlighted that international investors are increasingly focusing on the Kingdom, particularly as other regions experience stagnation or slower growth. He explained that investors see º£½ÇÖ±²¥â€™s ambitious tourism plans as a way to unlock long-untapped potential in a sector that had been largely inaccessible for decades.

The surge in investment aligns with the Kingdom’s broader push to become a global travel hub. 

To support this ambition, º£½ÇÖ±²¥ aims to generate $80 billion in private investment by the start of the next decade, helping fuel Crown Prince Mohammed bin Salman’s Vision 2030 strategy to diversify the Kingdom’s economy beyond oil.

While Europe and the US currently lead the wave of foreign investment, Al-Khateeb noted that active discussions are underway with Asian partners as well — including China, South Korea, and Malaysia — who are exploring opportunities in areas such as hospitality, retail, and real estate.


Saudi Eksab, Guyana government sign MoU on investment collaboration in key strategic sectors

Saudi Eksab, Guyana government sign MoU on investment collaboration in key strategic sectors
Updated 33 min 42 sec ago

Saudi Eksab, Guyana government sign MoU on investment collaboration in key strategic sectors

Saudi Eksab, Guyana government sign MoU on investment collaboration in key strategic sectors

RIYADH: Saudi Eksab and the government of Guyana signed a Memorandum of Understanding to explore investment collaboration across key strategic sectors on the sidelines of the Future Investment Initiative in Riyadh.

The MoU was signed by Yazeed Alyahya, CEO of Saudi Eksab and Zulfikar Ally, Guyana’s minister of Public Service, Government Efficiency and Implementation, with Guyanese President Mohamed Irfaan Ali witnessing the event.

The MoU paves the way for enhanced collaboration to advance strategic investment opportunities and unlock future areas of mutual interest, and strengthens Saudi Eksab’s role as a trusted partner supporting sustainable growth and economic diversification, a statement said.

“Guyana is entering a transformative phase of development. Through this collaboration with Saudi Eksab, we are eager to explore partnerships that accelerate infrastructure development and economic diversification while fostering global cooperation,†Ally said in the statement.

“This partnership marks an exciting step forward in our mission to identify high-impact investment initiatives that drive shared economic growth. We look forward to identifying meaningful opportunities,†AlYahya meanwhile said.


Why it is vital to protect acacia trees from invasive beetle

Why it is vital to protect acacia trees from invasive beetle
Updated 01 November 2025

Why it is vital to protect acacia trees from invasive beetle

Why it is vital to protect acacia trees from invasive beetle
  • A wood-boring beetle has been killing trees in the Kingdom, including the important acacia and jujube 
  • But an environmental expert cautions against using insecticides that could harm the ecosystem

RIYADH: The acacia tree is of significant importance to both the environment and culture in º£½ÇÖ±²¥. It provides shelter for migratory birds and protects travelers and Bedouins in the Arabian Peninsula’s hot desert.

Among the many environmental benefits of the acacia tree is its ability to prevent desertification; its roots improve soil fertility; it provides shade and lower temperatures; it stores carbon and reduces carbon dioxide levels; and it stabilizes dunes in desert areas.

An invasive beetle — scientific name Agrilus planipennis fairmaire — has been attacking trees for years, killing many of them in the Kingdom, including perennial trees.

The 'Emerald ash borer' (scientific name: Agrilus planipennis Fairmaire) is a highly destructive wood-boring beetle feeding on the phloem of ash trees. (Supplied)

Oubaid Alouni, an environmental consultant and former consultant at the National Center for Vegetation Cover Development and Combating Desertification, explained the role of the acacia tree in the ecosystem and how the pest threatens its existence.

He outlined the different types of acacia trees in º£½ÇÖ±²¥.

“The acacia tree grows naturally in the desert. It is a desert umbrella tree and is divided into two types; the Iraqi acacia and the Najdi acacia, and reaches around 55 types in total,†Alouni said.

There is also another type of acacia tree that grows in Asir, locally known as Al-Kanhbal, scientific name Vachellia origena, that differs from the Najdi acacia, which has long branches and provides ample shade.

While some acacia trees are native to º£½ÇÖ±²¥, others were imported, such as acacia raddiana. They all share a similar trait, providing vital protection from strong sunlight.

While some acacia trees are native to º£½ÇÖ±²¥, while others were imported, along with the wood borer. (SPA file photo)

“Any hiker, any traveler, who wants to go to the desert must pass by this tree and take shelter under it,†Alouni said, describing how people have always been connected to this species and valued it.

Securing native trees, not only acacia, holds a deeper meaning for the culture and tradition, he said, such as when the Prophet Muhammad used to sit under the Ziziphus spina-christi.

The acacia tree is threatened by the Agrilus planipennis Fairmaire as this species relies on the tree for nutrients.

“This insect reached º£½ÇÖ±²¥ through imported wood, as they found larvae inside wood imported from Russia,†Alouni said.

DID YOU KNOW?

• Some of the finest honey in the Kingdom is produced from acacia and jujube trees.

• Acacia trees help reduce sand encroachment in the desert and provide shelter for several bird species.

• The acacia tree can withstand drought for up to 10 years, even severe drought.  

The pest is a highly destructive wood-boring beetle feeding on the phloem of ash trees. It is also known as the Emerald ash borer, and is native to China, Japan, South Korea, Mongolia and Russia.

This bug is typically a small, metallic green beetle, around half an inch (about 1.2 to 1.5 cm in length), and one of its distinguishing features is that when the wing covers are lifted, the upper abdomen is bright red.

Its life cycle involves multiple stages. The first is the egg stage, during which females lay 40-53 eggs.

The larva lives inside the tree for one to two years, eating the layer between the bark and the main trunk. (Supplied)

Then comes the larva, the longest stage of the beetle’s life cycle, lasting almost a year.

“The larva lives inside the tree for one to two years, eating the layer between the bark and the main trunk,†Alouni said.

After that, it goes through a shorter stage, as a pupae, that lasts about 20 days.

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Finally, it reaches the adult stage and is known for chewing through the wood and emerging from trees, forming a small, D-shaped exit hole about 3 to 4 mm wide. This stage of its life is usually short, lasting about 20 days.

The pest is now attacking olive trees in the US, Alouni said.

“In Ohio, I believe, it has begun to invade olive trees terrifyingly. This insect is very dangerous.â€

The life cycle of Agrilus planipennis Fairmaire involves multiple stages before reaching adulthood. The first stage is the egg stage, during which females lay 40-53 eggs. (Supplied)

Among the factors that enabled this insect population to increase nationwide is the hunting of birds, especially migratory birds, because they usually feed on insects.

However, the biggest threat to the ecosystem is ignorance, Alouni said, as many people believe the insect is part of the Kingdom’s native environment and that protecting it contributes to a balanced ecosystem.

“There are still people who say, ‘Leave it alone; it’s part of the ecological balance,’ which is, of course, incorrect. This insect is an invasive species in our environment,†he said.

Oubaid Alouni, an environmental consultant and former consultant at the National Center for Vegetation Cover Development and Combating Desertification. (Supplied)

He also believes that pruning trees leaves branches exposed and vulnerable to this insect entering the tree, and that transferring wood from one location to another may provide an opportunity for the larva to expand and increase its numbers.

To address this environmental issue, Alouni told Arab News about the efforts being made to safeguard and protect the Kingdom’s natural treasures, including organizing discussions and workshops to explore the issue and exchange potential solutions among experts.

Also, he believes that a particular bird species, the woodpecker, is one of the most effective ways to reduce the numbers of the beetle.

The pest is a highly destructive wood-boring beetle feeding on the phloem of ash trees. (Supplied)

“It’s called the Arabian woodpecker, yet it only exists in Asir and in small populations, too,†he said.

According to Alouni, the Arabian woodpecker hears the insect inside the tree, hits the branch with its beak and removes it.

Arabian woodpecker. (James Eaton photo / via Wikimedia Commons)

One of the strongest methods to contain pests is biological control, which uses other species to help the ecosystem naturally protect and restore its balance.

One animal feeds on another to keep the environment balanced, such as using Orussidae — a parasitic wood wasp — or placing large numbers of chickens and other birds in forests and farms.

The Orussidae or the parasitic wood wasps, along with birds, are better alternatives to harmful pesticides in fighting the destructive beetle. (Wikimedia Commons)

“It is called Orussidae in the United States … it kills insects very fast.â€

Chemical methods can also be used, but Alouni does not endorse these due to their environmental risks.

 


º£½ÇÖ±²¥ gears up for Biban 2025, the region’s largest startup and SME event

º£½ÇÖ±²¥ gears up for Biban 2025, the region’s largest startup and SME event
Updated 31 October 2025

º£½ÇÖ±²¥ gears up for Biban 2025, the region’s largest startup and SME event

º£½ÇÖ±²¥ gears up for Biban 2025, the region’s largest startup and SME event

RIYADH: º£½ÇÖ±²¥ is set to host the Middle East’s premier entrepreneurial event, Biban 2025, on Nov. 5, at the Riyadh Front Exhibition and Conference Center. 

Organized by the Small and Medium Enterprises General Authority known as Monsha’at, the four-day event will run under the theme “Global Destination for Opportunity.â€

Now in its 11th edition, Biban 2025 will convene a global audience from over 150 countries, the Saudi Press Agency reported. 

The forum will feature 200 local and international speakers and bring together 150 enabling entities from the government and private sectors, with several billion-dollar agreements and initiatives expected to be unveiled.

The event solidifies its role as the region’s largest entrepreneurial platform, connecting startups, investors, policymakers, and world-renowned experts. The goal is to forge strategic partnerships, explore high-value opportunities, and develop innovative ideas to fuel the growth of º£½ÇÖ±²¥â€™s entrepreneurial ecosystem.

Attendees are set to gain insights from more than 85 specialized workshops led by top experts, focusing on key areas such as finance, investment, management, marketing, digital transformation, and global expansion. 

The forum features seven main sections, designed to cover the various needs of entrepreneurs and small-to-medium enterprises. These dedicated sections address key areas such as financing, franchising, e-commerce, and market access.

Biban 2025 builds on the legacy of its previous editions, which have launched hundreds of successful projects and partnerships, empowering small and medium-sized enterprises to expand into local and global markets. 

The forum is a key initiative supporting Saudi Vision 2030, reinforcing the Kingdom’s position as a global hub for investment and opportunity.


New $80m fund to bridge Chinese industry and key Saudi sectors

New $80m fund to bridge Chinese industry and key Saudi sectors
Updated 31 October 2025

New $80m fund to bridge Chinese industry and key Saudi sectors

New $80m fund to bridge Chinese industry and key Saudi sectors

RIYADH: Digital technology, advanced manufacturing, and logistics are among the Saudi sectors set to benefit from an $80 million investment partnership between ewpartners and Chinese industrial hub Tianjin Binhai New Area.

Formalized in the presence of the Kingdom’s Public Investment Fund and its fund-of-funds platform Jada at the Future Investment Initiative conference in Riyadh, the move aims to introduce mature Chinese industrial projects and technologies into º£½ÇÖ±²¥ and the wider Gulf region.

This partnership directly supports Saudi Vision 2030 by leveraging Tianjin Binhai’s capabilities in alternative energy, smart manufacturing, and port logistics, combined with ewpartners’ network and investment expertise in the Middle East, according to a press release.

Jada CEO Bandr Mohammed Al-Homaly said: “Jada is committed to building a vibrant private capital ecosystem in º£½ÇÖ±²¥, for example through bridging global expertise with local opportunities.â€

He added: “The momentum we see from the partnership between ewpartners and Tianjin Binghai New Area, across logistics and technology for instance, reflects our shared dedication to Vision 2030 and to building a thriving private capital ecosystem in the Kingdom.†

The goal is to accelerate industrial upgrading, enhance local supply chains, and strengthen the Kingdom’s manufacturing competitiveness.

Wu Di, vice chairman of the Administrative Commission of Tianjin Binhai Hi-tech Industrial Development Area, said: “We look forward to leveraging Tianjin’s strengths in smart manufacturing, technology, and port logistics to deepen cooperation with º£½ÇÖ±²¥ and the Middle East, and to build a long-term, open, and mutually beneficial international partnership.â€

Jerry Li, co-founder and managing partner of ewpartners, said the partnership is not just about connecting capital— but bringing together industries and innovation capabilities. 

He added:: “Through this fund, we aim to bring China’s proven expertise in manufacturing and technological innovation to the Middle East, driving high-quality regional development.â€

The fund marks a strategic step in strengthening industrial and investment ties between Asia and the Middle East, positioning º£½ÇÖ±²¥ as an emerging global hub for cross-border industrial cooperation.


º£½ÇÖ±²¥ leads GCC fixed-income issuances in Q3, Markaz says 

º£½ÇÖ±²¥ leads GCC fixed-income issuances in Q3, Markaz says 
Updated 31 October 2025

º£½ÇÖ±²¥ leads GCC fixed-income issuances in Q3, Markaz says 

º£½ÇÖ±²¥ leads GCC fixed-income issuances in Q3, Markaz says 

RIYADH: º£½ÇÖ±²¥ dominated the Gulf Cooperation Council region’s primary debt market in the third quarter of 2025, raising $20.32 billion through 36 issuances, representing a 62.7 percent year-on-year increase in value, according to a new analysis. 

In its latest report, Kuwait Financial Center, also known as Markaz, said that primary issuances of bonds and sukuk across the GCC totaled $38.74 billion through 137 issuances during the third quarter, marking a 32.4 percent increase from the same period in 2024, when issuances reached $29.29 billion. 

The debt market in the region — particularly in º£½ÇÖ±²¥ — has expanded significantly in recent years, driven by economic diversification efforts that have strengthened investor demand for fixed-income instruments. 

“As for issuance preferences, the third quarter of 2025 saw an increased appetite for sukuk issuances in the GCC, representing 52.6 percent of total issuances for the year. This is a change in issuance preferences from the third quarter of 2024, where more conventional bonds were issued,†said Markaz. 

According to the report, UAE-based issuers raised $5.82 billion through 57 offerings in the third quarter, marking a 47.3 percent decline compared with the same period in 2024. 

Qatar ranked third in terms of issuance value, with $5.69 billion raised through 29 issuances, followed by Kuwait, where issuers raised $3.42 billion through eight issuances, reflecting a 118.4 percent increase year on year.

Issuances in Bahrain surged 539 percent from a year earlier to $2.55 billion across four issuances, while Omani entities recorded the lowest total, raising $0.94 billion through three issuances.

Markaz added that total GCC corporate primary issuances grew 4 percent in the third quarter to $26.59 billion. Conventional issuances decreased 18.6 percent to $18.37 billion, while sukuk issuances rose sharply — up 202.7 percent during the quarter — reaching a total value of $20.37 billion for the year to date.

The financial sector led all GCC bond and sukuk issuances in the third quarter, with a total value of $21.53 billion, followed by government issuances at $11.1 billion, the report said.