عربي English Türkçe اردو فارسى
Logo
Latest News
Business

Saudi Arabia's Inflation Relatively Stable in August

A general view of Riyadh, Saudi Arabia. (SPA)
A general view of Riyadh, Saudi Arabia. (SPA)
TT
TT

Saudi Arabia's Inflation Relatively Stable in August

A general view of Riyadh, Saudi Arabia. (SPA)
A general view of Riyadh, Saudi Arabia. (SPA)

The Consumer Price Index (CPI) reached 2.0% in August 2023, down from July, remaining relatively stable on a yearly basis.

This stability is due to the robustness of the Saudi economy and the economic measures taken by Saudi Arabia to counter global inflation rates.

Inflation rates in Saudi Arabia remain stable compared to G20 countries and most countries worldwide.

In August 2023, the inflation rate showed relative stability at 2.0% compared to August 2022.

The CPI measures consumers' prices for a fixed basket of goods and services consisting of 490 items. The respective prices are collected through field visits to points of sale.

Most Viewed

 
 
Business

Morocco Receives 17.4 Million Tourists in 2024, Up 20% on 2023

FILE PHOTO: People walk outside the Cinema Museum of Ouarzazate, Morocco, October 23, 2024. REUTERS/Stelios Misinas/File Photo
FILE PHOTO: People walk outside the Cinema Museum of Ouarzazate, Morocco, October 23, 2024. REUTERS/Stelios Misinas/File Photo
TT
TT

Morocco Receives 17.4 Million Tourists in 2024, Up 20% on 2023

FILE PHOTO: People walk outside the Cinema Museum of Ouarzazate, Morocco, October 23, 2024. REUTERS/Stelios Misinas/File Photo
FILE PHOTO: People walk outside the Cinema Museum of Ouarzazate, Morocco, October 23, 2024. REUTERS/Stelios Misinas/File Photo

Morocco received a record 17.4 million tourists in 2024, up 20% compared with previous year, with Moroccans living abroad accounting for nearly half the total, the tourism ministry said on Thursday.
Tourism accounts for about 7% of the North African country's gross domestic product and is a key source of jobs and foreign currency, Reuters reported.
The number of arrivals this year was two years ahead of target, the ministry said in a statement. It expects Morocco to receive 26 million tourists by 2030, when the country co-hosts the World Cup, together with Spain and Portugal.
Morocco has opened additional air routes to key tourist markets, while promoting new destinations within the country and encouraging the renovation of hotels.
From January to November, tourism revenue rose 7.2% to a record 104 billion dirhams, according to Morocco's foreign exchange regulator.