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Riyadh Air Strengthens Partnership with Saudi Tourism Authority to Promote Sector

Riyadh Air concluded a memorandum of understanding with the Saudi Tourism Authority (STA) to boost joint cooperation. (Asharq Al-Awsat)
Riyadh Air concluded a memorandum of understanding with the Saudi Tourism Authority (STA) to boost joint cooperation. (Asharq Al-Awsat)
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Riyadh Air Strengthens Partnership with Saudi Tourism Authority to Promote Sector

Riyadh Air concluded a memorandum of understanding with the Saudi Tourism Authority (STA) to boost joint cooperation. (Asharq Al-Awsat)
Riyadh Air concluded a memorandum of understanding with the Saudi Tourism Authority (STA) to boost joint cooperation. (Asharq Al-Awsat)

Riyadh Air, which is owned by the Public Investment Fund, concluded a memorandum of understanding with the Saudi Tourism Authority (STA) to boost joint cooperation as part of the national carrier’s efforts to shape the future of tourism in the Kingdom and advance air travel.

The new partnership, which was signed at Arabian Travel Market (ATM) in Dubai, focuses on several key areas, including new routes and destinations, joint marketing activities, sponsorship opportunities, presence at key roadshows and international events and accessibility to tourism-related platforms.

It also aims to explore collaboration in loyalty programs, leverage world-leading technology and new digital methods and engage in the Tourism Accelerator Program.

The agreement is in line with Riyadh Air’s vision to connect the Kingdom to more than 100 destinations around the world by 2030,. The two sides will cooperate to launch many initiatives and improve the level of services provided to tourists.

STA CEO Fahd Hamidaddin said: “Increasing Saudi’s connectivity with the world is a key pillar of our tourism strategy and will ensure we sustain our rapid growth and meet our new ambitious target of 150 million visits by 2030.”

The Kingdom, and Riyadh in particular, is preparing to receive millions of new tourists, thus cooperation with the key players in the sector, such as Riyadh Air, has become necessary to provide the best services and experiences to the visitors, he added.

Riyadh Air CEO Tony Douglas said: “This is another momentous day for Riyadh Air. Working alongside the STA to elevate the travel experience for our guests and those coming to visit the Kingdom of Saudi Arabia signifies what we’re all about.”

“We are elevating standards across the board in aviation to previously unseen levels. We have a shared commitment to travel and tourism in the Kingdom along with our forward-thinking approach to innovation, sustainability, and the satisfaction of our guests,” he stressed.

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Saudi Finance Minister: 2025 Budget Aims to Continue Expanding Strategic Spending

Al-Jadaan speaking at the press conference (Asharq Al-Awsat)
Al-Jadaan speaking at the press conference (Asharq Al-Awsat)
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Saudi Finance Minister: 2025 Budget Aims to Continue Expanding Strategic Spending

Al-Jadaan speaking at the press conference (Asharq Al-Awsat)
Al-Jadaan speaking at the press conference (Asharq Al-Awsat)

Saudi Finance Minister Mohammed Al-Jadaan outlined the objectives of the 2025 budget, emphasizing a continued focus on strategic spending for developmental projects aligned with sectoral strategies and Vision 2030 programs.
He added that the budget aims to support initiatives that deliver sustainable economic, social, and environmental benefits, while enhancing the business environment, improving the Kingdom’s trade balance, and increasing both the volume and quality of local and foreign investments.
Speaking at a press conference following the Cabinet’s approval of the budget, Al-Jadaan highlighted the government’s commitment to expansionary spending due to its positive impact on citizens. He noted that Saudi Arabia’s economy has become more resilient to fluctuations in oil markets, reflecting ongoing structural changes.
The non-oil economy is projected to grow by 3.7% by the end of 2024, he said, with non-oil activities contributing 52% to GDP during the first half of the current year.
The minister also revealed that since the launch of Vision 2030, non-oil revenues have increased by 154%. Oil’s share of GDP currently stands at 28%, and the nominal GDP has reached SAR 4.1 trillion, he remarked.

Moreover, Al-Jadaan said that private investment’s contribution to GDP has grown from 16% in 2016 to 24.7% today. The industrial sector is set to attract SAR 30 billion ($8 billion) in investments in 2025, alongside SAR 12.3 billion ($3.2 billion) in credit facilities to support Saudi exporters. Tourism has also emerged as a significant driver of economic growth, ranking as the second-largest contributor to the balance of payments after oil.
The Saudi minister emphasized the encouraging economic indicators, noting the surge in small and medium-sized enterprises driven by government spending. He reiterated the government’s cautious and conservative approach to budget preparation, reflected in revenue figures.
Structural changes in the Kingdom’s economy are beginning to yield tangible results, with a 33% increase in spending on strategies and programs aimed at achieving Vision 2030, according to Al-Jadaan. These efforts are expected to sustain economic growth, foster diversification, and further strengthen the Kingdom’s global economic standing, he stated.