Saudi Arabia Seeks to Upgrade Tourism Services in Coastal Areas

A tourism project in the Red Sea (Asharq Al-Awsat)
A tourism project in the Red Sea (Asharq Al-Awsat)
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Saudi Arabia Seeks to Upgrade Tourism Services in Coastal Areas

A tourism project in the Red Sea (Asharq Al-Awsat)
A tourism project in the Red Sea (Asharq Al-Awsat)

The Saudi Red Sea Authority began its field visits to issue the necessary licenses for navigational and maritime tourism activities in the Red Sea, in accordance with its new regulations, with the aim of upgrading the quality and standards of coastal tourism services.

The new regulations came into effect in early November 2023 to promote the growth of coastal tourism while ensuring environmental sustainability.

The field visits target licensing operators of tourist marinas and navigation agents to ensure the sustainability of operations of coastal activities, raise safety levels in the sector, in addition to creating a smooth and unique experience for visitors, and promoting environmental awareness among all segments of society.

The authority conducted 14 visits, which included the governorates of Jeddah, Al-Laith, and the city of Jazan.

The Saudi Red Sea Authority was established in 2021, with the aim of enabling and regulating marine tourism and navigation activities within the geographical scope of the Red Sea in the Kingdom. It also seeks to facilitate coastal tourism activities, support investors, including small and medium enterprises, and contribute to creating job opportunities.

Saudi Arabia announced the official opening of the Red Sea destination in October 2023, welcoming visitors from all over the world. The destination includes the fourth largest thriving coral reef in the world, and extends over an area of ​​more than 28,000 square kilometers on the western coast of Saudi Arabia.



Saudi Market Rises as Investors Absorb Tariff Shock

Entrance to the Tadawul Tower in Riyadh’s financial district (Asharq Al-Awsat)
Entrance to the Tadawul Tower in Riyadh’s financial district (Asharq Al-Awsat)
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Saudi Market Rises as Investors Absorb Tariff Shock

Entrance to the Tadawul Tower in Riyadh’s financial district (Asharq Al-Awsat)
Entrance to the Tadawul Tower in Riyadh’s financial district (Asharq Al-Awsat)

Gulf markets trimmed their losses on Monday, with the Saudi stock index erasing earlier declines and turning positive, driven by gains in major stocks such as ACWA Power and Aramco.

Despite a sluggish start, influenced by tariff concerns, the Tadawul index managed to overcome these challenges, closing 1.1% higher.

In contrast, other Gulf bourses saw limited declines, with Qatar and Kuwait exchanges registering drops, while the Muscat bourse also experienced a slight dip.

These movements come amid a broader retreat in global stock markets, still reacting to US President Donald Trump’s recent decision to impose tariff hikes.

The Saudi stock market rose 1.1%, closing at 11,194 points, up 117 points. The market recorded active trading, with total turnover reaching approximately 10.6 billion riyals ($2.8 billion), the highest since December 2024.

Despite a sharp decline of over 400 points earlier in the session, which brought the market to a low of 10,657 points, it successfully recovered to end the day higher. On Sunday, the market had dropped by more than 800 points.

ACWA Power led the gainers, jumping 6.8% to close at 331 riyals. Aramco shares also rose 1%, reaching 25.25 riyals.

Meanwhile, Al Takaful Cooperative saw a 5% increase, closing at 131 riyals, following the company’s announcement of cash dividends for shareholders.

These movements come as markets absorb the shock of the tariff hike, with Gulf financial markets showing mixed performance following sharp declines in reaction to Trump’s decision to raise tariffs.