Saudi Arabia’s flourishing tourism industry has reached a remarkable milestone, with the country’s balance of payments for tourism surging to an impressive $10.67 billion in the first half of 2023, reflecting a staggering 327 percent increase compared to the same period in the previous year. This extraordinary growth is a testament to Saudi Arabia’s commitment […]
Saudi Arabia is taking significant steps to diversify its economy away from its traditional dependence on oil. In an effort to achieve a more balanced economy with crops that offer higher economic returns, the country has set an ambitious target of planting 1.2 million coffee trees by 2026, as reported by the Saudi Press Agency. […]
Saudi Arabia has adjusted its growth projections and is now anticipating a budget deficit for this year, instead of the earlier expected surplus, as indicated in a preliminary budget statement released by the Ministry of Finance. The largest economy in the Arab world expects the real gross domestic product (GDP) to expand by a modest […]
Riyadh, September 28, 2023 – Saudi Arabia’s relentless pursuit of Vision 2030 goals has begun to yield promising results, with the nation’s overall unemployment rate declining to 4.9 percent in the second quarter of this year. This marks a significant reduction of 0.2 percentage points compared to the previous quarter, according to official data released […]
In a significant declaration of its dedication to nuclear energy, Saudi Arabia has pledged to adhere to a comprehensive international safeguards framework, firmly upholding the Kingdom’s principles of transparency, reliability, and safety. The announcement was made by Saudi Minister of Energy, Prince Abdulaziz bin Salman, during his address at the 67th General Conference of the […]
Amidst the backdrop of global economic challenges, Saudi Arabia has demonstrated resilience in its trade performance, with the Kingdom’s overall merchandise exports remaining steady in July, reaching SR91.3 billion ($24.34 billion). This represents a marginal decrease of only 0.4 percent compared to the previous month, according to official data. The General Authority for Statistics (GASTAT) […]
Saudi Arabia is intensifying its efforts to diversify its economy, a central goal of its ambitious Vision 2030 initiative. As part of this strategy, the kingdom is embracing emerging technologies like blockchain and artificial intelligence (AI) and is tapping into thriving sectors such as gaming. While Saudi Arabia is yet to make a substantial global […]
In a significant development for Pakistan’s economic recovery, Saudi Arabia is set to invest up to $25 billion in the country over the next two to five years, according to Pakistan’s caretaker Prime Minister, Anwaar-ul-Haq Kakar. The investment is expected to cover various sectors, including mining, agriculture, and information technology, and is part of Pakistan’s […]
In recent years, mall walking, also known as ‘mallercise,’ has emerged as a popular fitness trend in Saudi Arabia. The country’s malls, providing safe and comfortable spaces, have become havens for people seeking a convenient and cost-free alternative to traditional gyms, especially during the scorching summer months. With a growing number of individuals engaging in […]
Saudi Arabia and Turkey have inked agreements encompassing energy, defense, and various other sectors.
