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Saudi Arabia Ranks World’s 2nd Fastest Growing Tourism Destination

Saudi Ministry of Tourism Building (File Photo AAWSAT AR)
Saudi Ministry of Tourism Building (File Photo AAWSAT AR)
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Saudi Arabia Ranks World’s 2nd Fastest Growing Tourism Destination

Saudi Ministry of Tourism Building (File Photo AAWSAT AR)
Saudi Ministry of Tourism Building (File Photo AAWSAT AR)

Saudi Arabia ranked second place as the fastest-growing tourist destination in the world, according to a report of the United Nations World Tourism Organization (UNWTO) Barometer.

The report indicated that the recovery rate of the tourism sector in Saudi Arabia reached 150 percent compared to pre COVID-19 levels.

It also highlighted that the highest recovery rate recorded by international tourism in the Middle East at the global level is 120 percent compared to pro-pandemic levels.

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Morocco Central Bank Cuts Benchmark Interest Rate to 2.5%

The central bank said the decision was consistent with the inflation outlook. Photo: X
The central bank said the decision was consistent with the inflation outlook. Photo: X
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Morocco Central Bank Cuts Benchmark Interest Rate to 2.5%

The central bank said the decision was consistent with the inflation outlook. Photo: X
The central bank said the decision was consistent with the inflation outlook. Photo: X

Morocco’s central bank cut the benchmark interest rate by 25 bps to 2.5% on Tuesday, saying the decision was consistent with the inflation outlook.

Inflation would average 1% in 2024, easing from 6.1% last year, before picking up to 2.4% in 2025, the bank said in a statement following its quarterly board meeting.

The bank expects the economy to grow by 2.4% this year, down from 3.4% in 2023, as drought continues to weigh on the farming sector, it said.