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Saudi PIF Ranks 8th Among World’s Top SWFs With $390b Assets

Saudi PIF Ranks 8th Among World’s Top SWFs With $390b Assets
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Saudi PIF Ranks 8th Among World’s Top SWFs With $390b Assets

Saudi PIF Ranks 8th Among World’s Top SWFs With $390b Assets

Saudi Arabia’s Public Investment Fund (PIF) maintained its 8th position among the world’s largest sovereign wealth funds (SWFs) for September 2020, recent data from SWF Institute showed.

The Kingdom’s sovereign wealth fund assets increased by $30 billion to $390 billion, hovering near a targeted level of $400 billion by the end of 2020.

Elsewhere, Norway’s Government Pension Fund Global maintained its top position in the list with assets standing at $1.108 trillion, declining by nearly $78 billion.

China Investment Corporation (CIC) came in second with $940.6 billion worth of assets.

It was followed by Abu Dhabi Investment Authority ($579.6 billion) and Kuwait Investment Authority (KIA) with $533.7 billion worth of assets.

The combined assets of the 88 sovereign wealth funds hit $7.83 trillion.

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Saudi Arabia Ranks 12th Globally in International Tourism Receipts

Saudi Arabia Ranks 12th Globally in International Tourism Receipts
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Saudi Arabia Ranks 12th Globally in International Tourism Receipts

Saudi Arabia Ranks 12th Globally in International Tourism Receipts

Saudi Arabia’s tourism sector continues its impressive growth, advancing 15 positions in international tourism receipts and leading the Top 50 ranking in upward movement, SPA reported.

According to the UN World Tourism Organization, Saudi Arabia ranked 12th in 2023, making a significant improvement from its 2019 ranking.
In a press release issued Friday, Saudi Arabia has led G20 countries in growth on the UN Tourism Barometer, achieving a 73% increase in international tourist arrivals and a 207% rise in international tourism receipts based on the latest data from the first seven months of 2024 compared to the same period in 2019.

These impressive gains reflect the Kingdom’s success as a leading tourism destination. The steady increase in international tourist arrivals further underscores the trust visitors place in Saudi Arabia’s rich and diverse attractions. Globally, international tourist arrivals reached 96% of pre-pandemic levels in the first seven months of 2024, totalling an estimated 790 million tourists – an 11% increase over the same period in 2023.
The release disclosed that the Middle East maintained the lead as the strongest-growing region, with international arrivals rising 26% over 2019 levels.