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  • Opinion: There’s a Huge Opportunity For Saudi Tourism – But it Needs to Embrace Nuance

    The Saudi Public Investment Fund gets a lot of attention with its mega deals. This is to be expected. What I want to see is room for a certain segment of the private sector: early-stage entrepreneurs and innovators building something from the ground up.

  • Monsha’at reveals key economic indicators for Saudi fashion industry

    The Kingdom’s fashion sector is expected to grow at a compound annual growth rate (CAGR) of nearly 48% between 2021 and 2025.   The sector’s value amounted to roughly SAR 92.3 billion in 2021, Monsha’at added.   It was valued at SAR 46.9 billion in 2022, with consumer spending on imported brands reaching SAR 27.4 billion in 2021.

  • Saudi Arabia aims to attract over $3 trillion in investments by 2030

    Saudi Minister of Investment Khalid Al-Falih underscored the plan to draw investments and financial flows exceeding $3 trillion by 2030. Saudi Arabia, participating in the first Sino-Gulf Cooperation for Industries and Investments Forum in Xiamen, China, on May 23 and 24, focused on its ambitious Vision 2030. Led by Minister Al-Falih, the Saudi delegation included key representatives from both the government and private sectors.

  • Thousands of upgraded properties in Saudi Arabia see rental yield soar by up to 50%

    Carrying out upgrades and modernising properties can yield an increase in rent revenue of between 25 and 50 per cent in a market that has been relatively flat outside the capital Riyadh, where 44 per cent of the kingdom's real estate transactions took place.

  • Saudi Arabia’s open banking strategy a game-changer

    In May 2022, the institution, also known as SAMA, went live with its open banking initiative, which has altered the future of financial technology in the Kingdom and the wider region. Open banking is a technological innovation that enables customers to securely share their data with third parties. “Open banking changes the very nature of relationships across the financial ecosystem for Saudi Arabia and for the region as a whole. This is only a good thing,” said Al-Moayed.

  • Saudi Arabia’s Booming Fashion Industry Offers Entrepreneurs Lucrative Opportunities

    The Small and Medium Enterprises General Authority (Monsha'at) released its report for the first quarter of 2024, shining a spotlight on the Kingdom's thriving fashion sector and the wealth of investment potential for entrepreneurs.

  • 60 Saudi students graduated from elite American universities

    As many as 60 Saudi scholarship students were graduated from a number of elite universities of the United States of America. The Saudi Club at Harvard University organized a ceremony to honor the graduates from Harvard University, the Massachusetts Institute of Technology (MIT), Boston University, and Tufts University at the Harvard Medical School in Boston on Friday.

  • Riyad Capital expects revived Saudi economy in 2024-2025

    The Saudi economy is likely to witness a recovery in 2024 and 2025, with continued strong growth in the non-oil sector, Riyad Capital expected in the Q2 2024 Saudi Economy Chartbook report.   The recovery will be driven by a growth-oriented fiscal policy and a focus on increasing investment expenditure to stimulate growth in the coming years.   According to the report, the non-oil sector is seen to grow by 4.8% in 2024 and 5.2% in 2025.

  • Private aviation soars in Saudi Arabia as more businesses take to the skies

    Valued at $1.2 billion in 2023 according to TechSCI research, this segment is projected to grow at a compounded annual growth rate of 8.88 percent between 2025 and 2029.

  • What a Turkish drone in the Raisi crash crisis reveals about Iran’s UAV capabilities

    Hours after the helicopter carrying Iranian President Ebrahim Raisi and Foreign Minister Hossein Amirabdollahian went down near the border of Azerbaijan Sunday, Iran reached out to its regional neighbor Turkey for assistance in finding the crash site through dense fog. Turkey dispatched one of its thermal- and night-vision capable, domestically produced AKINCI unmanned aerial vehicles, and, according to Turkish officials, they discovered the downed chopper. Turkish media released video of what was supposedly the “heat source” identifying the crash.