Saudi Arabia Ranks 2nd Globally as Fastest Growing Tourism Destination

 International football player Lionel Messi with his family during a vacation in Saudi Arabia (Asharq Al-Awsat)
 International football player Lionel Messi with his family during a vacation in Saudi Arabia (Asharq Al-Awsat)
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Saudi Arabia Ranks 2nd Globally as Fastest Growing Tourism Destination

 International football player Lionel Messi with his family during a vacation in Saudi Arabia (Asharq Al-Awsat)
 International football player Lionel Messi with his family during a vacation in Saudi Arabia (Asharq Al-Awsat)

A report issued by the World Tourism Organization (WTO) revealed that the number of visitors coming to the Kingdom increased by 64 percent during the first quarter of 2023, compared to the same period in 2019.

 

Experts told Asharq Al-Awsat that the Kingdom was able to place itself on the world tourism map, and is witnessing great leaps in international indicators after facilitating all procedures related to the entry of visitors through electronic visas, which contributed to doubling the number of tourists coming to the country.

 

According to the report, Saudi Arabia ranked 13th globally, advancing by 12 places on the World Tourism Organization (WTO) index, as one of the top countries receiving international tourists in 2022, compared to the 25th place in 2019.

 

The Kingdom received about 7.8 million tourists for all purposes during the first quarter of this year, which represents the highest quarterly performance in history, achieving a growth of 64 percent. Thus, the country ranked second among the fastest growing tourism destinations during this period, according to recent data received by the organization.

 

The Kingdom also advanced 16 places in the international tourism revenue index, achieving the 11th place in 2022, compared to 27th place in 2019 globally.

 

Saudi Minister of Tourism Ahmed Al-Khatib said that this achievement was an addition to the other successes of the Kingdom in various fields and as a “culmination of the directives of the wise leadership -- represented by the Custodian of the Two Holy Mosques King Salman bin Abdulaziz and His Royal Highness the Crown Prince -- to continue enhancing the Kingdom’s position on the global tourism map, and raising its contribution to the gross domestic product under the Kingdom’s Vision 2030.”

 

He added that facilitating travel visa procedures, planning promotional campaigns in the target countries, and diversifying tourism destinations in the Kingdom were among the factors behind these achievements.

 

Al-Khatib stressed that the ministry will maintain its efforts, in cooperation with all partners from the public and private sectors, in order to move forward in realizing the government’s aspirations to make the Kingdom a global tourism destination.

 

Nayef Al-Rajhi, Vice Chairman of the Board of Directors of the Chamber of Commerce in Riyadh and Chairman of the National Tourism Committee in the Federation of Saudi Chambers, told Asharq Al-Awsat that Saudi tourism was witnessing a quantum leap.

 

He added that the Kingdom’s progress in international tourism indicators reflected positively on the country and stimulated efforts to strengthen and develop the tourism sector to provide a unique experience for all visitors.

 

A bulletin issued by the Saudi Ministry of Investment indicated that spending by international tourists in the Kingdom jumped to 27 billion riyals ($7.2 billion) in the first half of 2022, following an increase in the number of visitors by a total of 46 million tourists.

 

Saudi Arabia has focused on diversifying its economy and developing new tourism activities and destinations, which represented a fundamental pillar of the country’s Vision 2030 which seeks to raise the sector’s contribution to the GDP to 10 percent and to receive 100 million visitors annually by 2030.

 

 



Saudi Aramco Reportedly Sells Oil from Jafurah Field as Huge Project Starts

Saudi Aramco's Jafurah project. Photo: Aramco
Saudi Aramco's Jafurah project. Photo: Aramco
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Saudi Aramco Reportedly Sells Oil from Jafurah Field as Huge Project Starts

Saudi Aramco's Jafurah project. Photo: Aramco
Saudi Aramco's Jafurah project. Photo: Aramco

Saudi Aramco sold oil from its $100 billion Jafurah project in the first reported export from the massive natural gas development, Bloomberg reported.

Jafurah is Aramco’s first unconventional field, developed using the type of hydraulic fracturing, or fracking, techniques pioneered in the US shale patch.

The deposit, which Chief Executive Officer Amin Nasser calls the company’s crown jewel, will produce massive amounts of natural gas once at capacity, expected in 2030. It also has plentiful volume of liquid fuels that will boost the company’s returns, Nasser has said.

The oil that Aramco sold is condensate, a light oil liquid that’s often found in gas deposits, according to traders with knowledge of the purchases. It will go to buyers in Asia for loading later this month or in early March, Bloomberg quoted the traders as saying.


Industry Ministry: Saudi Arabia Saw 220% Surge in Mining Licenses in 2025

The surge highlights the appeal of the mining investment environment in the Kingdom. SPA
The surge highlights the appeal of the mining investment environment in the Kingdom. SPA
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Industry Ministry: Saudi Arabia Saw 220% Surge in Mining Licenses in 2025

The surge highlights the appeal of the mining investment environment in the Kingdom. SPA
The surge highlights the appeal of the mining investment environment in the Kingdom. SPA

The Saudi Ministry of Industry and Mineral Resources has announced record growth in the number of new mining exploitation licenses issued in 2025, showing a remarkable increase of 220% compared to 2024.

The surge highlights the appeal of the mining investment environment and the ministry's ongoing efforts to promote the exploration and utilization of the Kingdom's mineral resources, which are valued at over SAR9.4 trillion.

Jarrah Al-Jarrah, the ministry’s spokesperson, revealed that total investment in these new licensing projects has exceeded SAR44 billion, focused on the extraction of high-quality mineral ores, including gold and phosphate.

Al-Jarrah emphasized that the ministry is dedicated to facilitating mining investments and streamlining the process for both local and international investors, thereby supporting sector development and maximizing returns.

This effort aligns with the objectives of Saudi Vision 2030, which aims to position mining as the third pillar of national industry and a key contributor to economic diversification.

The Saudi mining sector made significant progress in the 2024 annual survey of mining companies conducted by the Fraser Institute of Canada.

The Kingdom improved its position in the Mining Investment Attractiveness Index, moving up from 114th place in 2013 to 23rd place globally. This achievement underscores the effectiveness of regulatory and legislative reforms within the sector.


UK Economy Barely Grew in Q4 as Budget Uncertainty Weighed

The financial district of the City of London (Reuters)
The financial district of the City of London (Reuters)
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UK Economy Barely Grew in Q4 as Budget Uncertainty Weighed

The financial district of the City of London (Reuters)
The financial district of the City of London (Reuters)

Britain's economy barely grew in the final quarter of 2025 as activity fared worse than initially estimated during the run-up to finance minister Rachel Reeves' budget, official figures showed on Thursday.

Gross domestic product grew by 0.1% in the October-to-December period, the same slow pace as in the third quarter, the Office for National Statistics said.

Economists polled by Reuters, as well as the Bank of England, had forecast 0.2% fourth-quarter growth compared with the ‌previous three months.

The ‌period was marked by rampant speculation about tax increases ‌ahead ⁠of Reeves' budget ⁠on November 26. The ONS revised down monthly GDP data for the three months to November to show a 0.1% contraction rather than 0.1% growth.

Some more recent data have suggested that uncertainty has lifted for consumers and businesses.

"Looking at various surveys, there were some tentative signs that sentiment turned a corner and started to improve after the budget last year, which could help deliver a pick-up in activity this ⁠year," Luke Bartholomew, deputy chief economist at Aberdeen, said.

"However, recent ‌political uncertainty may see that sentiment bounce reverse."

Prime ‌Minister Keir Starmer has had to fight to keep his grip on Downing Street this ‌week due to fallout from the Jeffrey Epstein scandal.

Thursday's figures underscored why ‌investors think that the Bank of England is more likely than not to cut interest rates again in March.

The monthly GDP data showed a sharp downward revision to growth.

The data suggested hesitancy on the part of businesses during the fourth quarter as their investment fell ‌by almost 3% - the biggest quarter-on-quarter drop since early 2021, driven largely by volatile transport investment.

Economist Thomas Pugh at ⁠tax and consultancy ⁠firm RSM said the overall weakness in business investment suggested budget uncertainty held back investment and spending.

Manufacturing was the biggest driver of the increase in output, despite the fact that car output was still recovering from September's cyber attack on Jaguar Land Rover, while the dominant services sector was flat. Construction output contracted by 2.1%.

In 2025 as a whole, Britain's economy grew by an annual average 1.3%, the Office for National Statistics said, compared with 0.9% in France, 0.7% in Italy and 0.4% in Germany.

British economic growth per head contracted by 0.1% for a second quarter, although it rose by 1.0% for 2025 as a whole.

In December alone, the economy grew by 0.1%, the ONS said, as expected in the Reuters poll. That left the size of the economy back at its level of June 2025.