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Riyadh Season Attracts 20 Million Visitors with 100% Qualitative Leap

The Boulevard World is one of the most important zones that attract visitors during the Riyadh Season. (Media Center of the General Entertainment Authority)
The Boulevard World is one of the most important zones that attract visitors during the Riyadh Season. (Media Center of the General Entertainment Authority)
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Riyadh Season Attracts 20 Million Visitors with 100% Qualitative Leap

The Boulevard World is one of the most important zones that attract visitors during the Riyadh Season. (Media Center of the General Entertainment Authority)
The Boulevard World is one of the most important zones that attract visitors during the Riyadh Season. (Media Center of the General Entertainment Authority)

The fourth edition of the Riyadh Season, which falls within the initiatives of the General Entertainment Authority, saw a qualitative leap in the number of visitors, attracting around 20 million people from inside and outside the Kingdom, compared to 10 million in its first edition in 2019.Chairman of the General Entertainment Authority’s board of directors, Turki Al-Sheikh said that 20 million people visited Riyadh Season 2023 from inside and outside Saudi Arabia, thanks to the support of the Custodian of the Two Holy Mosques King Salman bin Abdulaziz and Crown Prince Mohammed bin Salman.Al-Sheikh also revealed the launch of the Eid al-Fitr 2024 identity, under the slogan “Your Eid among your family and loved ones.”The Saudi government has recently announced completing one of the goals of Vision 2030 that is attracting 100 million visitors during the past year, unveiling a new strategy by Crown Prince Mohammed bin Salman that seeks to bring 150 million visitors to the Kingdom.The Riyadh Season activities started on Oct. 20, with 12 regions offering exceptional experiences to millions of local and foreign tourists.The event displays innovative achievements in the world of entertainment, amusement parks, sports, art, culture, and much more.

This season hosted three international boxing fights, the Riyadh Season Football Cup Championship, the Egypt Cup, the tennis, snooker, padel and skating tournaments, as well as many plays and artistic concerts.The event also featured the Joy Awards for the entertainment industry, which was attended by a number of local and international artists.General Manager and CEO of Abdul Mohsen Al Hokair Company, Majed Al Hokair, told Asharq Al-Awsat that the increasing number of visitors proves the success of the General Entertainment Authority’s strategy, led by Turki Al-Sheikh.For his part, Nasser Al-Ghailan, founder and CEO of a leading tourism investment company, stressed that the Riyadh Season has become an international event that attracts local and foreign tourists and revives the commercial activity of national companies specialized in the tourism, travel and entertainment sector, specifically small and medium enterprises.

 

 

 

 

 

 

 

 

 

 

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Gold Rises on Dip-buying, Focus on US-China Trade Updates

FILE PHOTO: Gold bars are stacked in the safe deposit boxes room of the Pro Aurum gold house in Munich, Germany, January 10, 2025. REUTERS/Angelika Warmuth//File Photo
FILE PHOTO: Gold bars are stacked in the safe deposit boxes room of the Pro Aurum gold house in Munich, Germany, January 10, 2025. REUTERS/Angelika Warmuth//File Photo
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Gold Rises on Dip-buying, Focus on US-China Trade Updates

FILE PHOTO: Gold bars are stacked in the safe deposit boxes room of the Pro Aurum gold house in Munich, Germany, January 10, 2025. REUTERS/Angelika Warmuth//File Photo
FILE PHOTO: Gold bars are stacked in the safe deposit boxes room of the Pro Aurum gold house in Munich, Germany, January 10, 2025. REUTERS/Angelika Warmuth//File Photo

Gold prices rebounded on Thursday as investors bought bullion following a sharp decline in the previous session, while focus still remained on US-China trade tensions.
Spot gold was up 1.6% to $3,340.79 an ounce, as of 0907 GMT, Reuters reported. Bullion lost over 3% on Wednesday, in its worst daily performance since late November.
US gold futures gained 1.8% to $3,352.10.
"Gold's pullback earlier has cleared some of the froth from its latest surge. That in turn attracted some buy-the-dip action, amid still-persistent global trade war fears," said Han Tan, Exinity Group's chief market analyst.
"Given the still-evident tailwinds for this precious metal, gold bugs could ultimately conquer the $3,500 level with conviction."
Non-yielding bullion, traditionally seen as a hedge against global instability, has risen over 27% so far this year.
The International Monetary Fund made sharp reductions to its outlook for both US and global growth this year, with President Donald Trump's tariff policy the central reason behind the downgrade.
"If the economic outlook deteriorates further, then there's no reason why gold could not receive another strong bid," said Ole Hansen, head of commodity strategy at Saxo Bank.
However, US Treasury Secretary Scott Bessent said the US economic growth will surpass the IMF's revised estimate of 1.8%, down from 2.7% in January, if Trump administration's policies are implemented.
He also said that the excessively high tariffs between the US and China are unsustainable, and must be reduced before trade negotiations can proceed.
Supporting gold, the US dollar eased, making the greenback-priced bullion cheaper for overseas buyers.
Spot silver fell 0.5% to $33.37 an ounce, platinum was steady at $973.25 and palladium was down 0.6% to $939.53.