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  • Saudi Arabia scraps hotel licensing fees in bid to boost tourism

    Saudi Arabia decided on Wednesday to cancel fees for issuing commercial activity licenses for hotels, hotel apartments and residential resorts in the kingdom, state news agency SPA reported. The decision, effective September 4, is part of the Tourism Investment Enabler Programme that Saudi Arabia launched in March, aimed at making the kingdom a global tourism powerhouse. “This decision comes in line with the goals of the Kingdom’s Vision 2030 to make Saudi one of the most prominent tourist destinations in the world”, SPA said. SPA added that the initiative would encourage investors to put more money into the tourism sector, which would increase the industry’s contribution to gross domestic product.

  • Saudi issuing licences for new airlines

    In an interview with Al Arabiya Business, Al-Duailej revealed that work is underway to issue new licences for private airlines at Saudi airports. He highlighted that Saudia Airlines recently secured a deal to purchase 105 new aircraft, with Jeddah airport being used as a major hub for the airline in the coming years. Al-Duailej also emphasised that Saudi Arabia’s aviation strategy aims to increase passenger numbers to 300 million. The country has already established direct connections to 170 destinations out of a target of 250.

  • New Saudi campaign explores the ‘Heart of Arabia’

    The heroine of the film – a solo female traveller – is initially filled with trepidation but experiences a warm Saudi welcome as she embarks on an enigmatic quest through the country’s spectacular destinations. It also showcases a lesser-known side to Saudi – its expansive geography, diverse terrain, and human and natural wonders – from the clear turquoise waters of the Red Sea, to Aseer’s lush mountains, the vibrant cities of Riyadh and Jeddah as well as iconic UNESCO World Heritage Sites of Diriyah, Hegra and Al Balad. The wider message of the campaign is about Saudi’s extraordinary heritage, its rapid transformation into a dynamic global destination, and the endearing warmth of its people.

  • Green Jobs Surge: How Saudi Arabia’s Eco-Initiatives Create New Opportunities

    Saudi Arabia's focus on sustainability has led to a notable rise in green jobs. According to recent statistics, the green sector has grown by over 30% in the past five years. This growth is fueled by investments in renewable energy, sustainable agriculture, and eco-friendly technologies. The surge in green industry sectors is not just a trend; it's a tidal wave transforming the Saudi economy.

  • Leading KSA Fintech – Hakbah – Partners with the Saudi Institute of Internal Auditors

    akbah, the Saudi-based fintech savings platform, announces a new agreement with The Saudi Institute of Internal Auditors to enhance the development of internal auditing systems, governance, and oversight within financial technologies, at 24Fintech in Riyadh. Under this agreement, Hakbah and The Saudi Institute of Internal Auditors will exchange information and updates on professional standards and scientific references, facilitating specialised internal audit studies as well as research on relevant systems, regulations, and discussion panels.

  • US most powerful tourism market; Saudi Arabia tops in growth

    The US remains the world’s most powerful travel and tourism market, contributing a record-breaking $2.36 trillion to the nation’s economy last year, according to the World Travel & Tourism Council's (WTTC) 2024 Economic Impact Trends Report. Saudi Arabia leads the growth international tourism spending with a 91.3% jump compared to 2019, the report noted. Despite the slow return of spending from international travelers, the US keeps pole position, with almost double the economic contribution of its nearest rival.

  • Saudi Arabia, India discuss ways to bolster strategic defense cooperation

    Saudi Arabia and India recently discussed new avenues to strengthen defense cooperation at the India-Saudi Arabia Joint Committee on Defence Cooperation (JCDC) held in Riyadh. Indian ambassador Dr. Suhel Ajaz Khan told Arab News that Saudi Arabia and India are seeking to enhance defense cooperation. Khan said the sixth JCDC meeting was co-chaired by India’s Joint Secretary (Armed Forces) Amitabh Prasad and Saudi Arabia’s Deputy Minister of Defense for Strategic Affairs Maj. Gen. Salman bin Awadh Al-Harbi.

  • 7 Saudis held for publishing posts inciting communal hatred

    The Saudi security authorities have arrested seven citizens and referred them to the Public Prosecution for committing crimes threatening national unity, peace and community security, it was revealed by the Ministry of Interior. The suspects were found involved in publishing posts that incite abhorrent tribal fanaticism, hatred and animosity in society, the Saudi Press Agency reported.

  • IMF Warns Saudi Oil Revenue to Fall More Sharply This Decade

    Oil revenue will rise to 783 billion riyals ($209 billion) to make up about 26% of gross domestic product in 2026, the IMF said in a report after its annual consultations with the Saudi government. The earnings are seen dipping to 778 billion riyals in 2029, 4.1% less than earlier estimates.

  • Saudi Technology Sector Could See $4bn Surge from GenAI by 2028, Report Says

    An analysis by global consulting firm Strategy& Middle East has showed that Saudi technology sector could witness a surge in operating profit of SR15 billion ($4 billion) by 2028 with the adoption of generative artificial intelligence. The reports states that the Kingdom could achieve a 15 percentage point margin growth if tech companies satisfy the needs of advanced hardware and infrastructure and develop and commercialize new GenAI use cases.