Saudi PIF Unveils ‘The Rig.’ Project: World’s First Tourism Destination on Offshore Platforms

PIF announced on the launch of “THE RIG.”, a new tourism project that is inspired by offshore oil platforms. (PIF)
PIF announced on the launch of “THE RIG.”, a new tourism project that is inspired by offshore oil platforms. (PIF)
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Saudi PIF Unveils ‘The Rig.’ Project: World’s First Tourism Destination on Offshore Platforms

PIF announced on the launch of “THE RIG.”, a new tourism project that is inspired by offshore oil platforms. (PIF)
PIF announced on the launch of “THE RIG.”, a new tourism project that is inspired by offshore oil platforms. (PIF)

The Saudi Public Investment Fund (PIF) announced on Saturday the launch of “THE RIG.”, a new tourism project that is inspired by offshore oil platforms.

“THE RIG.” will be located in the Arabian Gulf and will span a combined total area of more than 150,000 square meters and provide a multitude of hospitality offerings, adventures, and aquatic sporting experiences.

“THE RIG.” is a project in the tourism and entertainment sector, one of PIF’s key strategic sectors, and is expected to be a significant value-add to the local economy, said a statement. Additionally, to ensure the sustainable preservation of the environment in the project’s vicinity, the project will follow leading global standards and best practices, further supporting the Kingdom’s broader efforts on environmental protection.

This project is a unique tourism attraction, expected to attract tourists from around the world, while being especially popular with citizens and residents of the Gulf Cooperation Council countries.

“THE RIG.” will feature a number of touristic attractions, including three hotels, world-class restaurants, helipads, and a range of adventurous activities, including extreme sports.

“THE RIG.” is in line with PIF’s strategy 2021-2025 to drive innovation in Saudi Arabia’s tourism and entertainment sectors, providing promising development opportunities to achieve economic diversification in line with the Saudi Vision 2030 objectives.

To support Saudi Arabia’s efforts to become a leading global tourist destination, PIF has established several major projects and companies in various regions within the country, including the Red Sea Development Company, Alsoudah Development Company and the Cruise Saudi Company.



Canada to Remove Many Retaliatory Tariffs on US Goods, Says Carney

Canada's Prime Minister Mark Carney speaks at the Metis Major Projects Summit in Ottawa, Ontario, Canada August 7, 2025. (Reuters)
Canada's Prime Minister Mark Carney speaks at the Metis Major Projects Summit in Ottawa, Ontario, Canada August 7, 2025. (Reuters)
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Canada to Remove Many Retaliatory Tariffs on US Goods, Says Carney

Canada's Prime Minister Mark Carney speaks at the Metis Major Projects Summit in Ottawa, Ontario, Canada August 7, 2025. (Reuters)
Canada's Prime Minister Mark Carney speaks at the Metis Major Projects Summit in Ottawa, Ontario, Canada August 7, 2025. (Reuters)

Canada will remove many retaliatory import tariffs on US goods and intensify contacts with the United States on striking a new trade and security relationship, Prime Minister Mark Carney said on Friday.

Canadian tariffs on US autos, steel and aluminum will remain for now, he told a press conference in Ottawa.

Carney noted that the United States had recently made clear that it would not impose tariffs on Canadian goods that were compliant with the three-nation US-Mexico-Canada free trade agreement, something he called a positive development.

"In this context and consistent with Canada's commitment to USMCA, I am announcing today that the Canadian government will now match the United States by removing all of Canada's tariffs on US goods specifically covered under USMCA," he said.

"Canada and the US have now re-established free trade for the vast majority of our goods," he added, reiterating that compared with its trading partners, Canadian exports were still subject overall to a low level of US tariffs.


Snapchat Strategy Backs Saudi Arabia’s Digital Economy, Tech Transformation

Minister of Investment Eng. Khalid bin Abdulaziz Al-Falih during the inauguration of the company’s office (Asharq Al-Awsat)
Minister of Investment Eng. Khalid bin Abdulaziz Al-Falih during the inauguration of the company’s office (Asharq Al-Awsat)
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Snapchat Strategy Backs Saudi Arabia’s Digital Economy, Tech Transformation

Minister of Investment Eng. Khalid bin Abdulaziz Al-Falih during the inauguration of the company’s office (Asharq Al-Awsat)
Minister of Investment Eng. Khalid bin Abdulaziz Al-Falih during the inauguration of the company’s office (Asharq Al-Awsat)

Snapchat has reaffirmed its commitment to Saudi Arabia’s digital transformation, unveiling a strategy that aligns closely with the Kingdom’s Vision 2030 goals.

According to Abdullah Al-Hammadi, Snapchat’s General Manager in Saudi Arabia, the company sees not challenges but opportunities in the local market, aiming to be a central partner in national development.

In an interview with Asharq Al-Awsat, Al-Hammadi explained that Snapchat’s strategy in the Kingdom rests on three key pillars: developing human capital, contributing to GDP by enabling creators to earn sustainable income, and strengthening ties with customers and partners through a local presence. The opening of Snapchat’s first Saudi office in the JAX District in Diriyah marked a major step in that direction.

“Our strategy begins with investing in people,” said Al-Hammadi, highlighting programs such as the 12-month Graduate Development Program, digital marketing workshops for Saudi businesses, and the Snap School initiative designed to support local content creators.

The second pillar, he noted, is driving economic impact. This includes empowering content creators to monetize their work and helping local advertisers expand their reach in the digital economy. The third pillar focuses on proximity: the new Saudi office hosts the region’s first “Snap Council,” a forum for creators to collaborate and innovate.

Snapchat formally inaugurated its Riyadh office in November 2024, in an event attended by co-founder and CEO Evan Spiegel, along with Saudi Ministers Abdullah Al-Swaha (Communications and IT) and Khalid Al-Falih (Investment).

25 Million Active Users
The Kingdom remains one of Snapchat’s most dynamic markets, with over 25 million monthly active users who open the app more than 50 times a day. Around 90 percent of users fall between the ages of 13 and 34.

Company data shows that 54.5 percent of users are male and 45.5 percent female, while 60 percent of the most engaged users are over 25 years old. Meanwhile, 71 percent of Saudi parents actively use the platform.

“Saudis express themselves on Snapchat at a rate more than 2.2 times higher than on other platforms,” said Al-Hammadi. Over 85 percent of users interact daily with augmented reality (AR) lenses, which have become a defining feature of the platform.

National Day as a Digital Economy Driver
Al-Hammadi pointed to Saudi National Day as an example of Snapchat’s growing economic role. Traditionally a cultural celebration, the holiday has evolved into a major commercial season aligned with Vision 2030’s emphasis on the digital economy. In 2024, 94 percent of Saudi Snapchat users participated in National Day activities through the app.

September has also become a key shopping period: 85 percent of Saudis prepare shopping lists in advance, 72 percent plan bulk purchases, and 76 percent expect brand discounts. “National Day has become the second-biggest shopping season after Ramadan,” Al-Hammadi said. “On Snapchat, advertisers and shoppers come together in a shared moment of economic vitality through innovative campaigns.”

AI-Powered Experiences Ahead

Looking to the 2025 National Day, Snapchat anticipates a new wave of innovation driven by AI-enhanced AR. Features such as the Arabic Sign Language lens launched at the Riyadh International Book Fair in 2023, interactive book experiences, and child-focused filters demonstrate how AI can transform AR into more personal, inclusive, and immersive experiences.


Turkish Foreign Visitor Arrivals Drop 5% in July 

Tourists use umbrellas to shelter against the sun outside Hagia Sophia mosque during a hot summer day in Istanbul, Tuesday, Aug. 12, 2025. (AP)
Tourists use umbrellas to shelter against the sun outside Hagia Sophia mosque during a hot summer day in Istanbul, Tuesday, Aug. 12, 2025. (AP)
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Turkish Foreign Visitor Arrivals Drop 5% in July 

Tourists use umbrellas to shelter against the sun outside Hagia Sophia mosque during a hot summer day in Istanbul, Tuesday, Aug. 12, 2025. (AP)
Tourists use umbrellas to shelter against the sun outside Hagia Sophia mosque during a hot summer day in Istanbul, Tuesday, Aug. 12, 2025. (AP)

The number of foreign visitors arriving in Türkiye fell 5% from a year earlier to 6.97 million in July, tourism ministry data showed on Friday.

That compared with 7.33 million visitors in July 2024 and 7.14 million in July 2023.

Most visitors during the month came from Germany, Russia, the United Kingdom, Poland and Netherlands, the data showed.

Tourism sector representatives have said higher prices in Türkiye has hit demand.