MUST-READS

• Influencers’ role in helping Saudi Arabia end the scourge of smoking

  A recent forecast by Euromonitor International suggests that cigarette consumption in Saudi Arabia will hold steady this year. The research firm also predicts that the market for vapes, heated tobacco, and smokeless tobacco is about to explode, quintupling in size by 2028.^[1] Given that up to one in three young Saudi adults is thought to use e-cigarettes, this comes as no surprise. In short, smoking remains stubbornly popular in the Kingdom, as does vaping among young adults. Bending the curve will require the adoption and skillful deployment of social media influencer techniques that better align with how our youth absorb information.  The good news is that any such effort can – and should – build on the laudable stop-smoking efforts ongoing in the Kingdom. Since launching its first anti-smoking campaign in the early 2000s, the Kingdom has banned smoking in public places, imposed a 100% duty on cigarettes, and set up more than 1,000 smoking cessation clinics across the country.^[2] Last year, the Public Investment Fund launched Badael, which sells Saudi-made nicotine pouches and is developing other tobacco alternatives for smokers. These policies, among many others, have been overwhelmingly successful.

• The Trump Effect: The Potential Impact of the U.S. President on the Saudi Economy

  Any increase in policy interest rates in the United States would make borrowing more expensive at a time when the Saudi public sector is continuing to borrow heavily to fund the ambitious Vision 2030 projects. Also, higher interest rates would raise borrowing costs for individuals and businesses, potentially slowing private consumption and investment, although these links are hard to identify empirically in Saudi Arabia and the Gulf. Last, in a higher interest rate environment, the dollar, to which the Saudi riyal is pegged, may continue to strengthen, hurting the competitiveness of emerging Saudi sectors, such as tourism.

• Saudi Arabia’s population crosses 35mln, with non-Saudis constituting 44.4%

  Saudi Arabia's population reached 35.3 million until the middle of the year 2024, according to the latest estimates of the General Authority for Statistics (GASTAT). Saudi citizens constitute 55.6 percent of the total population while non-Saudis represent 44.4 percent. There has been an annual increase of 1.6 million in the number of people, with a growth rate of 4.7 percent during the period until mid-2024, compared to mid-2023. The annual growth rate stood at 4.6 percent compared to the base period in May 2022. The authority report stated that the total population of Saudis exceeded 19.6 million by mid-2024, with an annual growth rate of two percent, compared to 19.3 million in mid-2023, while the population of non-Saudis reached nearly 15.7 million by the middle of last year, compared to 14.5 million people until mid-2023.

• Microsoft aims to add $24B to Saudi GDP over 4 years

  Microsoft and its partners will inject an additional $24 billion boost to the Saudi gross domestic product (GDP) over the next four years, on top of their contributions in 2022, Turki Badhris, Head of Microsoft Arabia, said in an interview with Asharq Business with Bloomberg. The data centers that were announced in Saudi Arabia, on the sidelines of the LEAP 2023 conference, are progressing rapidly, with three expected to be operational by 2026, he noted. The company's "Alliance for Innovation" initiative launched a year ago has been able to achieve its target and attracted 80 partners to Riyadh's Microsoft, Badhris addd, noting that many of them are already relocating their headquarters to Saudi Arabia.

• Saudi Arabia’s population surges 4.7% to 35.3M in H1 2024

  Saudi Arabia's population grew at an annual rate of 4.7% to stand at 35.3 million by the end of the first half of 2024. In 2024, Saudi residents exceeded a tally of 19.6 million, while non-Saudi residents totaled approximately 15.7 million, a recent bulletin from the General Authority for Statistics (GASTAT) reported. According to the GASTAT’s estimates, the Saudi population growth reached about 1.6 million people compared to mid-2023, when the growth rate amounted to about 33.7 million people. Saudis accounted for 24.4% of this increase, while males made up roughly 70.8% of the total population growth. The number of Saudis grew by approximately 389,300 people compared to 2023, while the non-Saudi population added around 1.21 million.

• Saudi Sports for All Federation Unveils Riyadh Marathon Route, Venues, and Sponsors for Inaugural SFA International Sporting Events

  The SFA Expo will serve as the marathon’s bib collection hub and will feature interactive zones focused on sports, health, and fitness, showcasing cutting-edge equipment, wellness activities, and emerging technologies. The event will also include a B2B lounge for industry networking, and workshops on mindfulness and nutrition. Another highlight will be the Primal Race on Friday, February 7, a functional fitness challenge featuring a series of high-intensity activities interspersed with 400m group runs.

• Saudi Aramco Joins The Open Group as Platinum Member

  The Open Group, the vendor-neutral technology standards organization, has today announced that Saudi Aramco has become its latest Platinum Member. In this capacity, Saudi Aramco will have the opportunity to expand its presence across The Open Group Forums, take a leadership position, and have representation on the Governing Board. Saudi Aramco first joined The Open Group in 2016 as a Member of the Open Process Automation™ Forum (OPAF). The company has since collaborated with industry leaders on an O-PAS™ Automation Test Bed, assessing and validating next-generation open and interoperable technologies. In 2020, Saudi Aramco also became a member of The Open Group OSDU® Forum, joining industry peers in developing transformational technology to support the world’s changing energy needs.

• Saudi Arabia’s Billion-Dollar VC Boom: How SVC Is Shaping The Kingdom’s Financial Future

  Saudi Arabia has solidified its position as the top destination for venture capital (VC) investments in the Middle East and North Africa (MENA) region for the second consecutive year. According to data from MAGNiTT, the Kingdom secured $750 million in VC funding in 2024, accounting for 40 percent of total regional VC capital. The nation also witnessed a 16 percent increase in deal flow, closing 178 deals—the highest in the region. The United Arab Emirates (UAE) followed with $613 million in VC investments across 188 deals, leading the region in deal volume and achieving 12 exits.

• Sony Pictures Classics Acquires Haifaa Al Mansour’s Saudi Thriller ‘Unidentified’

  Sony Pictures Classics has acquired “Unidentified,” the latest feature from groundbreaking Saudi director Haifaa Al Mansour. The film reunites Al Mansour with SPC 13 years after it came aboard her landmark 2012 debut “Wadjda,” which became the first feature to be shot entirely in Saudi Arabia, the first feature shot by a female Saudi director and the first Saudi Oscar submission. Currently in post-production and described as a contemporary Arab-language thriller, “Unidentified” — written and produced by Al Mansour and Brad Niemann (“The Perfect Candidate”) — stars Mila Al Zahrani (“The Perfect Candidate”) and Shafi Al Harthi (“A Woman’s Life”).

• Riyadh’s Grand Wedding of 300 Couples Goes Viral

  Talk about a wedding of the century! Riyadh just pulled off the most epic mass wedding, uniting 300 Saudi couples in a night full of love, music, and jaw-dropping surprises. Hosted by the General Entertainment Authority (GEA) as part of Riyadh Season, the “Night of a Lifetime” has left the internet in total awe. Talk about a wedding of the century! Riyadh just pulled off the most epic mass wedding, uniting 300 Saudi couples in a night full of love, music, and jaw-dropping surprises. Hosted by the General Entertainment Authority (GEA) as part of Riyadh Season, the “Night of a Lifetime” has left the internet in total awe.

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