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Tourists to KSA spend over $37b in 2023
- August 16,2024
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- SUSTG Team
The Ministry of Tourism released it’s annual tourism statistics report for 2023 this week reflecting significant growth in tourist numbers and spending.
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Saudi Arabia’s Capex Super Cycle – Goldman Sachs
- August 15,2024
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- SUSTG Team
In its informative August 14, 2024 Briefing Insight entitled “Only a quarter of Saudi Arabia’s $1 trillion capex plan will go into oil” Goldman Sachs’ analyst team examines the Kingdom’s projected capital expense spending to 2030.
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Saudi Arabia leads GCC IPO momentum in Q2 2024
- August 14,2024
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- SUSTG Team
In Q2 2024, the GCC witnessed a significant uptick in IPO activity, with 13 listings raising a combined $2.64 billion. This surge in capital was primarily focused on the healthcare, education, and technology sectors.
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Calligraffiti – Saudi Artist Ahmed Al-Sulaimani
- August 13,2024
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- SUSTG Team
Saudi artist Ahmed Al-Sulaimani is making a name for himself blending Arabic calligraphy and graffiti-inspired techniques and was recently featured in an Arab News report.
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Saudi Arabia Updates Investment Law
- August 12,2024
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- SUSTG Team
Building on previously announced reforms under Vision 2030 and the National Investment Strategy, the Cabinet has approved an updated investment law for Saudi Arabia. The updated law brings together several existing freedoms and rights and expressly applies them to investors under one unified framework, providing investors with greater transparency, flexibility and confidence.
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Prince Mohammed bin Salman Royal Reserve
- August 9,2024
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- admin
Covering 24,500 KM2, the Prince Mohammed Bin Salman Royal Reserve is located south of Neom in northwestern Saudi Arabia. It covers 1% of Saudi Arabia’s terrestrial area and 1.8% of its marine area, it is home to over 50% of the Kingdom’s marine and terrestrial species.
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Halo Space Preparing For Saudi Arabian Stratospheric Test Flight
- August 8,2024
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- SUSTG Team
Spanish company HALO Space is developing a new form of space travel called stratospheric ballooning. This involves using a large helium-filled balloon to carry a pressurized capsule carrying passengers up to the stratosphere, which is about 35 kilometers 922 miles) above the Earth’s surface.
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Saudi Arabia announces Labor Law amendments to improve work environment
- August 7,2024
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- SUSTG Team
The Ministry of Human Resources and Social Development said the new amendments encompass 38 articles, deleting seven articles, and adding two new articles to the Labor Law. The new amendments will be effective after 180 days from the date of their publication in the official Gazette.
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Chinese Language Instruction in KSA
- August 6,2024
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- admin
During Saudi Crown Prince Mohammed bin Salman’s State Visit to China in February 2019 Saudi Arabia and China agreed to include the Chinese language as a curriculum at all stages of education in schools and universities across the Kingdom.
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Saudi Solar Power capacity picking up speed
- August 5,2024
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- SUSTG Team
GlobalData predicts that, at its current pace, Saudi Arabia’s renewable power capacity could increase at a compound annual growth rate (CAGR) of 40.1% between 2023 and 2030, to reach 31.5 GW by 2030 and 63.1 GW by 2035.
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MUST-READS
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Saudi Arabia opens applications for over 10,000 teaching jobs
Saudi Arabia’s Ministry of Education has opened applications for 10,494 teaching positions for the coming academic year, as part of a nationwide initiative to fill staffing needs across all public education departments. The hiring process, structured under a spatial contracting system, will take place through the Jadarat national employment platform, targeting graduates in specific disciplines required to meet school demands. Applications will open on Friday, March 7, 2025 and close on Wednesday, March 12, 2025 for male applicants.
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Saudi Arabia’s commitment to spending efficiency is driving growth and building resilience
Saudi Arabia’s 2025 budget will see the Kingdom continue to invest in the transformation of strategic sectors – including healthcare, tourism and logistics – under Vision 2030. Technologies such as artificial intelligence (AI) have emerged as key enablers in the transformation journey of these industries, with digitisation helping to streamline processes and increase operational and financial transparency. Of course, there are obstacles to unlocking spending efficiencies. Implementation of advanced tech like AI and data analytics often require substantial short-term investment. Spending on emerging technologies should be done as part of a long-term strategy, which needs the buy-in of all stakeholders – including employees, who may be resistant to change or supply chain partners whose systems and processes may not yet be compatible.
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Why businesses must bridge the ‘generational gap’ to align with Saudi’s AI ambitions
A significant challenge lies in bridging the generational gap in AI adoption. Younger generations, particularly Gen Z, have grown up immersed in technology and tend to feel at ease leveraging AI in the workplace. Millennials, who have witnessed firsthand the transformative power of digital innovation, are close behind. In contrast, more experienced professionals, including Gen X and Baby Boomers, often express greater caution, reflecting a natural hesitancy to embrace new ways of working. This divergence is especially relevant as in the kingdom, nearly two-thirds of the population are under 30. Yet older generations still hold many decision-making roles within organisations. As companies aim to unlock AI’s transformative potential, they must address this gap, ensuring that employees across all demographics are equally equipped to harness AI’s benefits.
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Can Gulf States Help End the War in Sudan?
Sudan’s deadly war has dragged on nearly two years, killing around 150,000 people, displacing more than 11 million, according to some reports, and causing widespread famine. Both sides have been accused of widespread war crimes, but in early January, the United States formally accused one of the warring parties, the Rapid Support Forces, of genocide, and sanctioned its leader, Lt. Gen. Mohammed Hamdan Dagalo (known as Hemedti). U.S. officials also sanctioned Sudan’s army chief, Lt. Gen. Abdel Fattah al-Burhan, alleging that the Sudanese Armed Forces intentionally targeted civilians and denied humanitarian aid access during the war. U.S. officials also argue that the Sudanese Armed Forces have used chemical weapons. Saudi Arabia, the United Arab Emirates, and Qatar have all attempted to support conflict mitigation and humanitarian aid in Sudan’s deadly conflict, but these efforts have been overshadowed by increasing Gulf competition and power projection in Sudan’s war as Gulf states seek to deepen their influence in the Red Sea and Horn of Africa.
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South Asia’s Pivot to the Gulf
South Asia – India, Pakistan, Afghanistan, Bangladesh, Sri Lanka, Nepal, Bhutan, and the Maldives – remains one of the most strategically critical yet least integrated regions in the world, both politically and economically. With one-quarter of the world’s population, abundant natural resources, and large consumer markets, South Asian countries have significant economic potential. However, intraregional trade amounted to just $23 billion in 2025, far below the projected $67 billion threshold and a miniscule fraction of India’s over $130 billion annual bilateral trade with China. South Asia occupies the strategic land bridge between the booming economies of East Asia and the energy-rich Gulf Cooperation Council countries. These regions are connected by the Indian Ocean and separated only by the Arabian Sea, making the subregion a vital transit hub for trade and energy flows. Nevertheless, despite this strategic location, regional trade blocs do not reflect strong trade figures for the subregion.
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Lebanese president hopes to mend ties with Saudi Arabia in first visit in years
Lebanon’s president said Monday that he hopes to strengthen ties with Saudi Arabia during a visit to the kingdom following years of strained relations between the countries. Joseph Aoun became Lebanon’s first head of state to visit Riyadh in six years. Saudi Arabia has been vocal about its concerns over the Iran-backed militant Hezbollah group and Lebanon’s positions on some regional issues. In recent years, it imposed a travel and import ban on Lebanon. Aoun’s appointment as president as well as that of a diplomat and former head of the International Criminal Court, Nawaf Salam, as prime minister are both seen as major blows to Hezbollah. As relations slowly thaw, Lebanon hopes that Saudi Arabia will lift the travel ban on the cash-strapped country, restore trade and help its reconstruction efforts after the war between Hezbollah and Israel left southern and eastern Lebanon in ruins.
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Jennifer Lopez returns to Saudi Arabia to headline Formula 1 Grand Prix in Jeddah
Global pop sensation Jennifer Lopez is set to headline the Formula 1 STC Saudi Arabian Grand Prix 2025, taking place April 18-20 over the Grand Prix weekend in Jeddah. She will join Usher and Major Lazer Soundsystem in an entertainment lineup powered by MDLBEAST. The high-energy post-race concerts will take place in Jeddah, offering motorsports and music fans an unforgettable experience. Known for her spectacular stage presence and chart-topping hits, Lopez is set to deliver an electrifying performance that will be one of the standout moments of the Formula 1 weekend. This won’t be the first time JLo dazzles audiences in Saudi Arabia. In a memorable performance at Riyadh Season, Lopez shared the stage with Celine Dion to celebrate Lebanese designer Elie Saab’s 45th anniversary, marking one of the biggest fashion and music spectacles in the Kingdom.
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Photos: Saudi Arabia welcomes Ramadan with festive spirit
Riyadh: Saudi Arabia has embraced the arrival of Ramadan with festive decorations, as streets and public spaces glow with illuminated crescents and lanterns, symbolising the joy and anticipation of the holy month. Meanwhile, regulatory teams continue to monitor commercial activities and implement preventive health measures to ensure public safety throughout the Kingdom. According to the Saudi Press Agency (SPA), residents across the Kingdom are upholding cherished traditions by decorating their homes, exchanging greetings, and organising family gatherings.
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Sabalenka praises WTA’s new mission, welcomes Saudi investment
World number one Aryna Sabalenka praised on Friday the WTA's mission to highlight the personalities of its athletes and called Saudi Arabia's investment in the women's tennis tour an important part of growing the game. The WTA rebranding, complete with a new logo and "Rally the world" tagline, comes amid a rise in global viewership and a record $4.8 million prize awarded last year to Coco Gauff for winning the WTA Finals in Riyadh, a tournament sponsored by Saudi's Public Investment Fund (PIF).
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Saudi Arabia’s Port of Neom expanding to be one of world’s largest
It's expected to handle 12 million TEUs (twenty-foot equivalent units) when completed. For reference, the Port of Los Angeles, known as America's Port, is the busiest container port in the US, handling just over 9 TEUs annually. To make this happen, the port's access channels have been dredged using a zero-discharge dredging technique to minimize environmental impact. Rather than simply dredging the sea floor and dumping the soil back into the ocean elsewhere, all materials are reused for land reclamation or infrastructure projects. When the project began, the access channel was roughly 590 ft (180 m) wide and 39-46 ft (12-14 m) deep. Today, the channel is 1,805 ft (550 m) wide and 62 ft (19 m) deep, allowing for more and larger vessel access.
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