黑料社区

International visitor spending in 黑料社区 hits $13bn in Q1聽

International visitor spending in 黑料社区 hits $13bn in Q1聽
黑料社区 is accelerating its Vision 2030 push to position tourism as a pillar of economic diversification. Getty
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Updated 02 July 2025

International visitor spending in 黑料社区 hits $13bn in Q1聽

International visitor spending in 黑料社区 hits $13bn in Q1聽
  • Rise pushed Kingdom鈥檚 travel account surplus to SR26.78 billion
  • 黑料社区 welcomed 115.9 million tourists in 2024

RIYADH: International tourists spent SR49.37 billion ($13.16 billion) in 黑料社区 during the first quarter of 2025, a 10 percent increase compared to the same period last year, recent data showed.聽

According to figures released by the Saudi Central Bank, also known as SAMA, the rise pushed the Kingdom鈥檚 travel account surplus to SR26.78 billion, up 11.7 percent year on year, underlining the sector鈥檚 growing contribution to the country鈥檚 non-oil economy.聽

This comes as 黑料社区 accelerates its Vision 2030 push to position tourism as a pillar of economic diversification, raising its target to 150 million annual visitors by 2030 after surpassing the 100 million mark ahead of schedule.聽

In 2024, the sector hit a milestone, with international tourism revenue soaring 148 percent from 2019 鈥 the fastest growth among G20 nations.聽




Domestic trips almost doubled, according to the annual report figures, rising from 47.8 million to 86.2 million. Shuttertsock

Saudi Tourism Minister Ahmed Al-Khateeb, commenting on the sector鈥檚 performance following the release of the Ministry of Tourism鈥檚 2024 Annual Statistical Report in June, said the document 鈥渟howcases the sector鈥檚 remarkable growth and its role in enabling Saudi Vision 2030, a record performance achieved with the support and guidance of the Kingdom鈥檚 visionary leadership.鈥澛

The report said that 黑料社区 welcomed 115.9 million tourists in 2024 鈥 29.7 million inbound and 86.2 million domestic trips 鈥 easily surpassing the Vision 2030 milestone of 100 million visits, five years ahead of schedule.聽

Total visitor spending reached SR283.8 billion, of which SR168.5 billion came from international travelers and SR115.3 billion from domestic tourists.聽

Since Vision 2030鈥檚 launch, Saudi tourism has expanded at breakneck speed. Inbound arrivals have climbed from 17.5 million in 2019 to 29.7 million in 2024, a 70 percent jump, while their spending ballooned by 63 percent, from SR103.4 billion to SR168.5 billion over the same period.聽

Domestic trips almost doubled, according to the annual report figures, rising from 47.8 million to 86.2 million over the same period.聽

The sector鈥檚 success is underpinned by multibillion-riyal investments in destination infrastructure. The first island resorts of the Red Sea Project will open later this year, while construction races ahead at NEOM鈥檚 Trojena mountain resort and Riyadh鈥檚 heritage-rich Diriyah Gate.聽




The Saudi Central Bank, also known as SAMA. Wikipedia

Developers are lining up more than 320,000 hotel rooms, and Red Sea International Airport is expected to start commercial flights in 2025, sharpening long-haul connectivity for high-end travelers.聽

Global recognition has followed, with UN Tourism data, cited in the Annual Statistical Report, showing 黑料社区 ranked first among G20 nations for growth in international tourist numbers in 2024 and second globally compared to pre-pandemic levels.聽

Speaking in April 2024, Ahmad Arab, founder of tourism and hospitality firm DRB Arabia聽and former deputy minister at the Ministry of Tourism, told GLG Insights聽the industry is on track to create 1 million related jobs by 2030, solidifying its place as a cornerstone of the Kingdom鈥檚 diversifying non-oil economy.聽

A notable trend, according to the Ministry of Tourism鈥檚 annual report, is the shift toward leisure travel. Non-religious visits accounted for 59 percent of inbound arrivals in 2024, up from 44 percent in 2019, as streamlined e-visas, entertainment seasons, and high-profile sporting events broadened the Kingdom鈥檚 appeal.聽

Egypt remained the top source market with 3.2 million visitors, followed by Pakistan with 2.8 million and Bahrain with 2.6 million. Makkah Al-Mukarramah led all destinations with 17.4 million overnight foreign visitors, while Riyadh and Jeddah also attracted millions.聽

Domestic tourism is expanding in parallel: trips rose 5 percent to 86.2 million in 2024, fueling record domestic outlays of SR115.3 billion. Leisure remained the top purpose, helped by school-holiday campaigns and new regional festivals.聽

With first-quarter spending at an all-time high and visitor volumes already outpacing long-term targets, Riyadh鈥檚 next challenge is to sustain capacity growth while maintaining service quality.


Closing Bell: Saudi main market opens week in green at 11,528聽

Closing Bell: Saudi main market opens week in green at 11,528聽
Updated 05 October 2025

Closing Bell: Saudi main market opens week in green at 11,528聽

Closing Bell: Saudi main market opens week in green at 11,528聽

RIYADH: The Saudi Exchange ended Sunday鈥檚 session higher, with the Tadawul All Share Index rising 0.29 percent to close at 11,528.59 points, gaining 32.87 points.  

Total trading volume reached 248.78 million shares, with a turnover of SR4.30 billion ($1.15 billion). Market breadth was positive, with 176 gainers against 79 decliners.  

The MSCI Tadawul 30 Index edged up 0.15 percent to 1,501.95 points, while the parallel market Nomu increased 0.67 percent to close at 25,475.72 points.  

Obeikan Glass Co. led the gainers, climbing 7.72 percent to SR36.00. National Shipping Co. of 黑料社区 followed with a 5.66 percent rise to SR29.86, while Sport Clubs Co. gained 5.17 percent to SR11.19.   

Al Khaleej Training and Education Co. added 5.06 percent to SR27.84, and Amlak International for Real Estate Finance Co. rose 4.75 percent to SR12.79.  

Among the day鈥檚 top decliners, Sumou Real Estate Co. dropped 2.58 percent to SR39.20, and Northern Region Cement Co. slipped 2.18 percent to SR8.06.   

Saudi Reinsurance Co. fell 2.01 percent to SR47.74, Naseej International Trading Co. was down 2.00 percent to SR88, and Derayah Financial Co. decreased 1.76 percent to SR30.20.  

On the announcements front, Shmoh AlMadi Co. said its board of directors approved the distribution of cash dividends amounting to SR4.7 million for the first half of the 2025 fiscal year.  

The dividend represents SR0.50 per share, or 10 percent of the share鈥檚 nominal value. Eligibility will be for shareholders owning shares at the end of trading on Oct. 12, with distribution scheduled for Oct. 22 through the Securities Depository Center Co.   

The company鈥檚 shares closed at SR13.20, rising 9.73 percent.  

Meanwhile, Atlas Elevators General Trading and Contracting Co. announced its board of directors approved cash dividends totaling SR2.9 million for the first half of fiscal year 2025.   

The payout amounts to SR0.50 per share, or 8.47 percent of the share鈥檚 nominal value. Eligible shareholders are those registered at the end of trading on Oct. 9, with distribution starting Oct. 21 via Edaa.  

Atlas Elevators shares ended at SR16.75, down 0.30 percent. 


黑料社区 to serve as regional HQ for fintech growth, says Paymentology CEO聽

黑料社区 to serve as regional HQ for fintech growth, says Paymentology CEO聽
Updated 05 October 2025

黑料社区 to serve as regional HQ for fintech growth, says Paymentology CEO聽

黑料社区 to serve as regional HQ for fintech growth, says Paymentology CEO聽

RIYADH: 黑料社区 is emerging as a key fintech hub in the Middle East, prompting the UK-based card issuing and payment processing firm Paymentology to formalize its operations in Riyadh.  

The company plans to designate its Saudi office as its regional headquarters, CEO Jeff Parker said. 

Speaking to Asharq at the Money20/20 Middle East conference in September, Parker said the move reflects Paymentology鈥檚 long-term commitment to the Kingdom. The company has obtained commercial registration in Riyadh to expand its on-the-ground presence. 

黑料社区 has set ambitious fintech targets under its Vision 2030 agenda, aiming to increase the share of cashless transactions to 70 percent by 2025.  

The Kingdom鈥檚 payments landscape is undergoing rapid transformation, with the Saudi Central Bank, also known as SAMA, reporting that electronic payments accounted for 79 percent of total retail transactions in 2024, up from 70 percent in 2023. 

鈥淲e have been active in 黑料社区 for about four years. But to cement and take advantage of the opportunity, we need a physical presence. So, very excited to say that we have registered now as a Saudi company,鈥 Parker said. 

He added that the Saudi market is evolving and clearly digitalizing rapidly. 鈥淭he trend toward digitalization and financial inclusion is really going to continue,鈥 he said, noting that the company considers 黑料社区 its regional headquarters. He said the next step is to start building a team and that Paymentology wants to hire a leader for the region. 

Parker also highlighted Paymentology鈥檚 confidence in its growth prospects in the Kingdom, citing the opportunities in the fintech sector and the country鈥檚 growing population. 

During the event, Paymentology signed a memorandum of understanding with Saudi-based remittance and digital payments provider Enjaz. 

鈥淲e signed a strategic partnership with Enjaaz. We think that is a great opportunity for us, very much aligned with Vision 2030 and providing financial inclusion for the region,鈥 said Parker.  

In a separate statement, Bassam AlEidy, CEO of Enjaz, said the collaboration represents 鈥渁 major step in shaping the future of payments in 黑料社区, delivering innovation that is inclusive, dynamic, and tailored to the needs of our market.鈥 

He added: 鈥淎t Enjaz, our focus has always been on giving our customers speed, convenience, and security, whether they are transferring money abroad or making everyday payments. By collaborating with Paymentology, we can now extend our card services that expand choice and enhance financial freedom.鈥 


Oman鈥檚 GDP grows 0.6% in Q2 as non-oil sectors offset oil decline聽聽

Oman鈥檚 GDP grows 0.6% in Q2 as non-oil sectors offset oil decline聽聽
Updated 05 October 2025

Oman鈥檚 GDP grows 0.6% in Q2 as non-oil sectors offset oil decline聽聽

Oman鈥檚 GDP grows 0.6% in Q2 as non-oil sectors offset oil decline聽聽

RIYADH: Oman鈥檚 gross domestic product at current prices grew by 0.6 percent in the second quarter of 2025, reaching 10.17 billion Omani rials ($26.4 billion) compared to 10.10 billion rials during the same period in 2024.

According to preliminary data released by the National Centre for Statistics and Information, this growth was largely driven by a 4 percent increase in non-oil activities, which rose to 7.05 billion rials from 6.78 billion a year earlier.  

At constant prices, Oman鈥檚 economy showed firmer underlying momentum. GDP at constant prices reached 9.4 billion rials, a 2.1 percent increase, with total non-petroleum activities up 4.1 percent year on year and petroleum activities edging higher by 0.5 percent.  

The economic expansion was supported by robust performance in the services sector, which climbed 7 percent to 4.85 billion rials, and in agriculture and fisheries, which saw a 9.8 percent increase to 310.3 million rials.

This modest GDP growth aligns with the continued expansion of Oman鈥檚 Islamic finance sector. According to the Central Bank of Oman, total assets of Islamic banks and windows reached 9.1 billion rials by the end of July, accounting for 19.7 percent of the total banking sector assets and marking a 16.8 percent increase compared to the same period last year.   

Financing provided by Islamic institutions rose by 12.5 percent to 7.2 billion rials, with deposits also growing by 16.1 percent to 7.2 billion rials, reflecting strong liquidity and lending activity in the sector.  

In terms of the GDP performance, the decline in oil activities was offset by a significant surge in natural gas output, which recorded a 40.7 percent increase in added value, reaching 803.6 million rials in the second quarter of the year compared to 570.9 million rials in the same quarter of 2024. 


Kuwait, Qatar non-oil economies expand as Egypt鈥檚 private sector contracts: S&P Global聽

Kuwait, Qatar non-oil economies expand as Egypt鈥檚 private sector contracts: S&P Global聽
Updated 05 October 2025

Kuwait, Qatar non-oil economies expand as Egypt鈥檚 private sector contracts: S&P Global聽

Kuwait, Qatar non-oil economies expand as Egypt鈥檚 private sector contracts: S&P Global聽

RIYADH: The non-oil private sectors of Kuwait and Qatar continued to expand in September, though at a softer pace, while Egypt saw business conditions weaken amid a sharper fall in new orders, an economy tracker showed. 

According to S&P Global鈥檚 latest Purchasing Managers鈥 Index survey, Kuwait鈥檚 PMI eased to 52.2 from 53 in August, and Qatar鈥檚 headline reading slipped to 51.5 from 51.9, both remaining comfortably above the neutral 50 mark that separates growth from contraction.  

Egypt鈥檚 PMI, however, declined to 48.8 from 49.2, signaling a renewed deterioration in non-oil activity. 

The steady momentum in Kuwait鈥檚 non-oil business activity mirrors the broader trend across the Gulf Cooperation Council, where economies are pushing to diversify and reduce reliance on oil revenues. 

The report noted that Kuwait鈥檚 non-oil private sector remained in expansionary territory as the third quarter drew to a close, though growth showed signs of softening. 

鈥淎lthough there were further signs of a growth slowdown in Kuwait鈥檚 non-oil private sector in September, rates of expansion remained solid, so there is little cause for alarm at this stage,鈥 said Andrew Harker, economics director at S&P Global Market Intelligence.  

He added: 鈥淚ndeed, firms remain confident that their pipeline of work will be sufficient to keep output rising over the coming year.鈥  

Companies reporting higher orders attributed the growth to promotional efforts and competitive pricing strategies, while advertising helped secure new business. 

Driven by cost considerations, firms increased staffing only marginally in September despite growing output requirements. As a result, outstanding business accumulated for the twelfth consecutive month, at the same pace as in August. 

鈥淣evertheless, the slowdown in growth is unlikely to improve the hiring situation, with firms remaining reluctant to commit to material increases in employment despite a sustained build-up of outstanding business,鈥 said Harker.  

Looking ahead, non-oil firms in Kuwait expressed optimism supported by competitive pricing, new product development, and strong customer service. 

Qatar maintains steady growth 

Qatar鈥檚 non-energy sector posted a sustained improvement in business conditions in September, rounding off its strongest quarter of 2025 so far. 

The country鈥檚 PMI edged down slightly to 51.5 from 51.9 in August, indicating moderate growth, according to S&P Global. 

鈥淨atar鈥檚 non-energy private sector continued to report an overall improvement in business conditions in September. Moreover, the headline PMI trended at 51.6 over the third quarter as a whole, signalling a slightly stronger performance than 51.1 in the first quarter and 51.2 in the second quarter of 2025,鈥 said Trevor Balchin, economics director at S&P Global Market Intelligence.  

The rate of job creation among Qatari non-energy firms eased in September compared to August but remained among the strongest in the survey鈥檚 history, as companies continued hiring to meet workloads and boost capacity. 

S&P Global added that output in Qatar鈥檚 non-energy private sector rose in September, marking the fourth expansion in the past six months. 

鈥淭he overall improvement in business conditions was underpinned by growth of employment, output and inventories in September, while lower new orders and shorter suppliers鈥 delivery times weighed on the headline figure,鈥 said Balchin. 

Firms continued to raise wages strongly in September, with inflation remaining among the highest in the survey鈥檚 history. 

Looking ahead, business confidence among non-oil firms was supported by expectations of growth in the real estate sector, increased demand from a rising expatriate population, marketing drives, and ongoing investment and development activity. 

Egypt loses momentum 

In Egypt, the PMI fell to a three-month low of 48.8 in September from 49.2 in August, as incoming new orders dropped at the fastest pace in five months. 

S&P Global noted that while operating conditions in Egypt鈥檚 non-oil private sector continued to worsen, the overall downturn was modest, helped by easing input cost pressures. 

鈥淭he latest survey data pointed to a further decline in operating conditions across Egypt鈥檚 non-oil economy; however, the downturn remained less steep than the survey trend and modest overall,鈥 said David Owen, senior economist at S&P Global Market Intelligence.  

He added: 鈥淎lthough companies are struggling to gain new work amid challenging market conditions as a whole, they can take some comfort from a softening of input cost pressures, driven by the pound鈥檚 strengthening against the US dollar over recent months.鈥  

Survey panellists attributed the drop in sales and new orders to subdued economic conditions, higher prices, and rising wage pressures. 

The reduction in sales coincided with stalled employment growth and weaker business confidence, with nearly all surveyed firms reporting no change in their workforce in September. 

Prices charged by non-oil businesses rose for the fifth consecutive month, although the pace of inflation eased slightly from August. 

鈥淭he pace of inflation was moderate but eased slightly from August. Price rises were mainly carried out in order to pass higher costs through to customers, according to respondents,鈥 said S&P Global.  


黑料社区 opens October 鈥楽ah鈥 Sukuk offering 4.83% return聽

黑料社区 opens October 鈥楽ah鈥 Sukuk offering 4.83% return聽
Updated 05 October 2025

黑料社区 opens October 鈥楽ah鈥 Sukuk offering 4.83% return聽

黑料社区 opens October 鈥楽ah鈥 Sukuk offering 4.83% return聽

JEDDAH: 黑料社区 has opened subscriptions for its October issuance of the government-backed 鈥淪ah鈥 savings sukuk, offering investors an annual return of 4.83 percent, slightly lower than the 4.88 percent offered in September. 

The subscription window runs from 10 a.m. on Oct. 5 to 3 p.m. on Oct. 7, according to the National Debt Management Center. Allocation is scheduled for Oct. 14, while redemption will take place between Oct. 19 and 21, with payments disbursed on Oct. 26. 

The sukuk initiative is part of the 2025 issuance calendar managed by the Ministry of Finance鈥檚 National Debt Management Center and is designed to strengthen the domestic savings market and broaden financial inclusion. 

Launched under the Financial Sector Development Program 鈥 a core element of Vision 2030 鈥 Sah aims to raise the national savings rate to 10 percent by 2030, up from about 6 percent currently. The initiative reflects the Kingdom鈥檚 ongoing efforts to provide Shariah-compliant investment opportunities for individual investors. 

With a minimum subscription of SR1,000 ($266) and a maximum of SR200,000 per individual, the offering forms part of the NDMC鈥檚 strategy to expand the domestic sukuk program, enhance financial inclusion, and diversify investment opportunities for the public. 

The sukuk, denominated in Saudi riyals, carries a one-year maturity and offers fixed returns paid at redemption. Subscriptions are available exclusively to Saudi nationals aged 18 and above through approved investment platforms, including SNB Capital, Aljazira Capital, Alinma Investment, SAB Invest, and Al-Rajhi Capital. 

In mid-September, the NDMC announced the completion of investor subscriptions for that month鈥檚 issuance, with a total allocation of SR8.036 billion. 

According to a statement from the center at that time, the issuance was divided into five tranches: the first tranche amounted to SR1.240 billion maturing in 2027. The second tranche totaled SR1.053 billion with a maturity in 2029, while the third amounted to SR795 million and will mature in 2032. 

The fourth tranche totaled SR1.271 billion and will mature in 2036, and the fifth tranche amounted to SR3.677 billion with maturity in 2039. 

Unlike conventional bonds, the sukuk鈥檚 returns are structured to comply with Shariah principles. Designed as a secure, low-risk savings instrument, it carries no fees and offers easy redemption, with returns aligned to prevailing market benchmarks.