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Saudi Arabia is now earning more from international visitors than it is spending on outbound tourism, shifting service balance to a surplus
This MoU will expire upon signing the SPA, expected by September 30
The Fund highlighted resilient non-oil growth in the Kingdom, applauded record low unemployment
The PMI noted significant job creation, with employment rising at one of the highest rates in a decade
The sales surge is linked to the company’s launch of multiple housing projects across the Kingdom
Brent crude to average $84 per barrel in 2024, broadly in line with the average over the last 18 months
The park features 60,000 sqm of creative spaces, nine innovative office buildings
In total, the ministry of investment issued 2,728 investment licenses during the first half of the year, up 49.6 percent annually
In 2022, total remittance outflows from Saudi Arabia reached $39.3 billion
Saudi Arabia's total fixed capital formation grew 8 percent during Q1 of 2024
The agreements involve Chinese banks and focus on two-way capital flows through debt and equity
Saudi Arabia's consumer confidence is significantly higher than the global average of 50.2
E-commerce market in Saudi Arabia expanded by 28 percent to SAR157 billion in 2023
Riyadh's population to grow from 5.9 million to 9.2 million in 10 years
Export sales across the non-oil sector grew in June at the fastest rate so far this year
The unemployment rate for Saudi females rose to 14.2 percent in Q1 2024, up from 13.9 percent in the previous quarter
Switzerland is one of Saudi Arabia's notable trading partners with over 100 companies in the Kingdom
Riyadh is among the top emerging ecosystems globally with four unicorns in the last 10 years
International currency holdings amounted to SAR1.66 trillion, up 6 percent during this period
Non-oil activities also rose by 0.9 percent in the first three months of 2024 compared to the previous quarter
Robust inventory growth continued as companies sought to prepare for strong sales performances in the future, the report said
MISA processed during the quarter 445 investor visit visa applications, enabling overseas businesses to explore opportunities
QIWA is a platform aiming to enhance the electronic services provided to the labor sector
The Kingdom's GDP is expected to expand by 2.3 percent in 2024 and accelerate to 5.8 percent in 2025, the report said
