“Following a busy Eid al-Adha and pilgrimage season, Saudi Arabia is maintaining its momentum with a surge in tourism. WINGIE, the leading travel marketplace in the MENA (The Middle East and North Africa) region, has observed a significant 57% increase in bookings to Saudi Arabia from international travelers compared to the previous year post-Eid, signaling a heightened interest in the country’s diverse attractions. The primary sources of these visitors include Egypt, Turkey, Germany, India, and the UAE, with the average cost of a flight being $207.” Leading Travel Marketplace WINGIE Anticipates Up to 60% Expansion in Saudi Arabia’s Post-Eid Tourism Growth [Yahoo]
“A.I. is like a beast that can consume endless amounts of data, no matter how much data you have. This is creating unprecedented value and investments in data. Nvidia and other chipmakers are only going to see demand double. I don’t see any new technology currently or even on the horizon that will match the ability of AI and data to fuel the next era of global prosperity [and jobs].” Ahmed Al Yamani, a Saudi expert on digitalization and the CEO of Takamol, a Saudi government-owned company, Transforming Saudi Arabia: Embracing AI For The Future Of Work [Forbes]
“It was meant to be over ambitious, with the clear understanding that only a part of it would be delivered on time. But even that part would be significant… Projects where we have specific deadlines to meet will get prioritized by the nature of things.” Ali Shihabi, a former banker now on Neom’s advisory board, Huge Saudi construction projects ‘might get scaled down’ [BBC]
“I think the term has been dangerously and simplistically appropriated by the media, and also by fan groups and by others who want a quick and easy way to characterize what the likes of Saudi Arabia are now doin. I say dangerous because it seems, I think, particularly for those of us in the Global North who refer to sportswashing, it’s just a very easy way to kind of kick off our shoes, lean back in our chairs and say, ‘They’re just sportswashers. What we should be doing is we should be thinking more carefully about the nuanced and more diverse nature of the activities in which Saudi Arabia and others are now engaged.” Simon Chadwick, a professor at SKEMA Business School in Lille, France, How Sports Are Making Saudi Arabia Look Better Than Ever [Newsweek]
“According to a 2024 report by the Saudi Fashion Commission, the country is uniquely positioned compared to China, the US, and Europe, which are currently the most prominent e-commerce markets globally. This is largely due to a whopping 65 percent of its population being under 40, which is markedly higher than the under-40 population in China and the US, at 51 percent and 54 percent, respectively. The demographic, comprising Gen Z and millennials, represents the largest number of online shoppers globally, per the Fashion Commission report.” Julienna Law, Jing Daily, Unpacking Saudi Arabia’s $4B online fashion opportunity [Jing Daily]
“A regional conflict will not remain regional, it will become international very quickly. If this continues along this path, it is going is much worse than what is happening on the ground today.” Prince Khaled bin Bandar Bin Saud, Saudi Arabia’s ambassador to the UK, called on Israel and the international community to “recognise the danger that lies ahead”, Saudi Arabia’s UK ambassador warns Israeli war with Lebanon would quickly turn global [The National]
“Sentiment for Saudi bonds is very healthy. It’s not a surprise that the Kingdom has become the largest EM bond issuer given its large funding needs for large infrastructure projects.” Apostolos Bantis, Zurich-based managing director of fixed-income advisory at Union Bancaire Privee Ubp SA. Saudi Arabia Dethrones China as Top Emerging-Market Borrower [Yahoo]
“In the past six years, government reforms have also clarified which industries are open to women and what kinds of hours women can work, criminalized sexual harassment, guaranteed equal pay and retirement benefits, and prohibited employers from terminating pregnant workers. The net effect has been an unprecedented increase in the economic opportunities available to women across Saudi society: the number of women employed in the private sector is now eight times what it was a dozen years ago, with much of the rise driven by women with high school diplomas.” Jennifer Peck, Working Women Are Changing Saudi Arabia, [Foreign Affairs]
“The Kingdom renews its call to the international community to recognize the independent State of Palestine, on the 1967 borders, with East Jerusalem as its capital. This will enable the brotherly Palestinian people to obtain their legitimate rights” and pave the way for “comprehensive, just, and lasting peace,” state news agency SPA quoted Crown Prince Mohammed Bin Salman as saying. MBS urges international community to recognize independent Palestinian state [Al-Arabiya]
“A total of 1,833,164 pilgrims performed the annual pilgrimage, 1,611,310 of whom were from outside the Kingdom with domestic pilgrims-both citizens and residents-numbered at 221,854. The number of male pilgrims this year reached 958,137, while female pilgrims totaled 875,027, GASTAT said.” Hajj 2024 in numbers: Annual pilgrimage draws over 1.83 mln worshipers [Al-Arabiya]
