Saudi Arabia

GASTAT: Saudi Arabia’s real GDP grows by 2.8 percent in Q3 2024

Oil activities expanded by 0.3 percent year-on-year, while non-oil activities experienced a notable growth of 4.2 percent 

Saudi Arabia, Vietnam promoting JVs and SMEs through strategic MoU for enhanced trade and investment

The agreement focuses on sectors with considerable growth potential, including industry, services, and the digital economy

Saudi Arabia welcomes 94 million passengers in first nine months of 2024

Saudi Arabia's aviation cargo also achieved significant growth, with the amount of cargo carried rising by 52 percent this year to 974,000 tons

Aramco’s Wa’ed Ventures allocates $100 million to invest in Saudi Arabia’s AI startups

Saudi Arabia’s gain from AI will likely exceed other countries in the Middle East with around $135 billion in value by 2030

Saudi Arabia advances environmental conservation ahead of first Road Safety and Sustainability Conference

The conference, themed "Innovating for Tomorrow," will take place in Riyadh from November 3 to 4

Saudia reports 10 percent rise in passengers to over 9 million guests in Q3 2024

From January to September 2024, Saudia successfully transported over 25.3 million guests across 143,800 flights

Saudi Ministry of Industry, UNIDO sign agreement to promote industrial development in Kingdom

The partnership outlines initiatives to transfer advanced technology and modernize industrial processes 

Saudi Arabia’s non-oil exports surge to $7.32 billion in August 2024

This represents a $505.86 million increase over the previous year

Saudi Arabia’s Energy Localization Forum: 107 agreements worth $27.69 billion signed

Macroeconomic impact of the entire energy sector is estimated to represent 40 percent of the Kingdom’s GDP

Top performing airports in Saudi Arabia highlighted in new GACA report

GACA employs a transparent method for performance evaluation by categorizing airports according to their annual passenger volumes

Riyadh Season 2024 attracts 2 million visitors in first week, says GEA chairman

Season features five main areas: Boulevard World, Kingdom Arena, Boulevard City, The Venue and Al-Suwaidi Park

Saudi Tourism Authority boosts global presence with new China campaign to attract visitors

Saudi Travel Expo in China featured interactive sections highlighting the beauty of tourism destinations in Diriyah, Al-Ula, and Al-Baha

Saudi Arabia plants over 95 million trees since launch of green initiative

Saudi Arabia has so far recorded 7.1 million cases of natural vegetation regeneration

Saudi Arabia, India strengthen ties in communications and space technology

This agreement with Saudi Arabia is TRAI’s 20th bilateral deal, boosting telecom cooperation between India and the Gulf 

Saudi Fund for Development invests $205 million in Serbia for agriculture, education, and energy projects

The funds will create jobs, boost the economy, and enhance Serbia’s global standing 

Saudi Venture Capital to invest $15 million in a VC Fund by Vision Ventures

Saqr Fund II aims for a total size of $90 million and will focus on early-stage startups, ranging from pre-seed to pre-Series B 

Saudi Arabia’s inflation steady at 1.7 percent in September as housing prices rise: Report

Saudi Arabia's inflation rate recorded a slight increase of 0.1 percent compared to August 2024

PIF-owned AviLease purchases Boeing 787-9 aircraft from BBAM

This transaction marks AviLease's first partnership with BBAM, adding its first Boeing 787-9 on operating lease

Saudi Arabia launches air bridge to support Lebanon

This aid reflects the Kingdom's commitment to ongoing humanitarian efforts for individuals and nations in need

Saudi Transport Authority: Over 85 million postal shipments delivered in H1 2024

This volume was handled by over 70 licensed logistics companies, ensuring secure and confidential delivery 

Madinah welcomes over 14 million visitors in 2023, spending surges to $13.24 billion

Efforts to improve accommodation, hospitality, transportation and health services have played a crucial role in this expansion

Saudi Arabia, Egypt boost cooperation in tech investments to grow region’s digital economy

Value of Saudi Arabia's investments in Egypt has reached approximately $26 billion, with over 8,000 companies

Saudi Red Sea Authority aims to draw 19 million tourists to the coast by 2030: Report

The report highlights the sector's contribution to economic diversification, investment attraction, revenue generation, and job creation 

Saudi’s Arabian Mills lists and starts of trading on Saudi exchange

The IPO consisted of 15.39 million ordinary shares, accounting for 30 percent of the company’s total issued share capital