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  • Growing Restaurant Sector Attracts International Investment in Saudi

    Point-of-sale operations using the Mada payment system have shown an annual growth rate of 13.6%, increasing from SAR 78 billion in 2022 to SAR 89 billion in 2023. The growth in the restaurant market is projected to continue, reaching approximately SAR 168 billion by 2030.

  • Record-breaking Intersec Saudi Arabia sold out

    Intersec Saudi Arabia, the country’s leading trade fair for security, safety and fire protection, has officially sold out two months ahead of the exhibition start date. A record number of 300 exhibitors, representing a 25% increase on last year’s number, and more than 17,000 visitors are expected to attend.

  • Only a quarter of Saudi Arabia’s $1 trillion capex plan will go into oil

    In what Goldman Sachs Research calls a “capex super-cycle,” Saudi Arabia is expected to invest $1 trillion across six strategic sectors by 2030. But the oil industry is likely to receive a smaller portion of this than previously forecast. Roughly 73% of the investment funds will go to non-oil sectors, Faisal AlAzmeh, who heads CEEMEA equity research and covers natural resources, chemicals, and infrastructure in the Middle East, writes in his team’s report. An earlier forecast pegged non-oil investment at 66%.

  • Riyadh Deputy Governor Receives Mexican Ambassador to Saudi Arabia

    Riyadh Region Deputy Governor Prince Mohammed bin Abdulrahman bin Abdulaziz received the Ambassador of Mexico to Saudi Arabia Anibal Gomez-Toledo today. Prince Mohammed welcomed the ambassador and wished him success in his endeavors.

  • Saudi Arabia’s digital health market to be valued at $6.8b by 2030

    Saudi Arabia’s digital health market is projected to reach $6.8b by 2030 at a compound annual growth rate (CAGR) of 19.3%, said Research and Markets. The sector’s growth is influenced by the increasing integration of digital technologies into the country’s healthcare system, driven by government initiatives to boost infrastructure and patient care.

  • Saudi markets overflowing with 11 types of locally produced fruit

    Saudi Arabia’s markets are currently brimming with 11 varieties of fresh, locally grown fruits, thanks to the government’s campaign for self-sufficiency in food production, according to the Ministry of Environment, Water and Agriculture. The produce includes figs, dates, grapes, pomegranates, bananas, cantaloupes, watermelons, papayas, guavas, citrus fruits and apples, said the ministry in a report carried by the Saudi Press Agency recently.

  • Saudi inflation stable at 1.5% in July

    Saudi Arabia’s inflation remained unchanged month-on-month at 1.5% in July 2024, according to recent data by the General Authority for Statistics (GASTAT).

  • Foreign tourists spend over $37 billion in Saudi Arabia in 2023

    The ministry stated that spending by inbound tourists on shopping during the past year crossed SR25.5 billion, while spending on transportation and movement amounted to approximately SR21.5 billion. The report noted that spending on food and beverages reached SR19.4 billion, while spending on other purposes exceeded SR25.5 billion. The ministry report also showed that spending by incoming tourists on entertainment surpassed SR4 billion.

  • Saudi Arabia Opens Bidding for Six Football Clubs

    This sale is part of Saudi Arabia’s broader push to establish itself as a major global football hub, a goal supported by significant investments in top-tier talent, infrastructure, and media deals. In just the first month of the 2023/24 season, the Saudi Pro League reported a 650% increase in revenue, demonstrating the growing interest in the league both domestically and internationally. Additionally, the league has struck broadcasting deals with 38 networks across multiple countries, further boosting its global reach and visibility.

  • China added more solar power last year than America has, period

    Citing data from Bloomberg and the Chinese Department of Energy, Semafor says that China built out infrastructure capable of generating nearly 217 gigawatts of power last year, to make for a total capacity of more than 609 gigawatts. America’s solar capacity pales in comparison at a mere 175 gigawatts. (For perspective, a gigawatt is enough energy to power about 100 million LED light bulbs.)