Foreign direct investment (FDI) into Saudi Arabia fell by almost 60% in 2022, the first annual drop in five years and the second largest drop in more than 15 years, according to new data.
U.S.-based Marriott International announced it has signed an agreement with Rua Al Madinah Holding Company to open as many as eight hotels in the Holy City of Madinah in Saudi Arabia.
Riyadh-based Jadwa Investment says it sees Saudi Arabia’s non-oil economy continuing its growth streak through 2023, "growing well in excess of 5 percent," according to a report issued by Jadwa.
Saudi Arabia's Al Hilal secured a 3-2 win over South American champions Flamengo on Tuesday that sent them to the Club World Cup final - the first time a Saudi team has reached the championship match in this tournament.
In the 4th quarter of 2022, Saudi Arabia’s non-oil sector grew at the fastest pace in more than a year and "helped the kingdom record the fastest overall growth among major global economies," Bloomberg reports.
