عربي English Türkçe اردو فارسى
Logo
Latest News
Business

Schengen Visa Applications in Saudi Arabia Grew by 23% in 2024

Visa applicants are seen at the Visa Center in Riyadh to complete their application procedures. (Asharq Al-Awsat)
Visa applicants are seen at the Visa Center in Riyadh to complete their application procedures. (Asharq Al-Awsat)
TT
TT

Schengen Visa Applications in Saudi Arabia Grew by 23% in 2024

Visa applicants are seen at the Visa Center in Riyadh to complete their application procedures. (Asharq Al-Awsat)
Visa applicants are seen at the Visa Center in Riyadh to complete their application procedures. (Asharq Al-Awsat)

As travel and tourism continue to grow, despite the challenges faced by local, regional, and international businesses and projects, VFS Global has revealed that demand for Schengen visas in Saudi Arabia has increased significantly by 23% this year.

In an interview with Asharq Al-Awsat, Zubin Karkaria, founder and CEO of VFS Global, said that the company has managed the visa procedures for the Saudi Ministry of Tourism’s Trailblazers program, which works to send 100,000 students to Europe for training in the tourism and travel sectors.

He added: “Our strategy aims to provide long-term value to all stakeholders, including the Saudi government and its citizens, contributing to Saudi Arabia’s vision of creating a diverse and sustainable economy by applying some of our modern solutions to our operations in the Kingdom.”

Karkaria emphasized that Saudi Arabia is a key market for VFS Global’s business, noting that the company has expanded its presence and services in the Kingdom over the years through strategic partnerships to facilitate visa services for travelers. These partnerships include agreements with chambers of commerce, the Public Investment Fund (PIF), and Aramco.

He further stated: “VFS Global strictly adheres to service-level agreements with its government clients, managing non-judicial and administrative tasks related to visa applications, passports, and consular services.”

As international travel grows in emerging markets, there has been an increasing need for specialized services to meet the demands of governments and visa applicants globally. “This led us to develop an approach that benefits both parties, where we handle all administrative procedures necessary for visa processing,” Karkaria explained.

According to him, VFS Global enjoys a long-standing partnership with governments in the European Union, working closely with them in the countries where they operate to provide visa application services. He noted the ongoing rise in demand for international travel and visa issuance.

“The initial challenge during the COVID-19 pandemic, which directly impacted travel and related sectors, was dealing with the volatile business environment. We quickly recognized both the severity of the crisis and the opportunity to transform our operations to prepare our organization for the future,” he said.

He continued: “For instance, by April 2020, 3,196 of our 3,384 visa application centers worldwide were temporarily closed in response to the global crisis. However, within just seven months, we resumed operations at 1,600 centers, representing more than half of our global network, enabling us to serve over 50 government clients across 129 countries while implementing new health and safety measures to protect both staff and visa applicants.”

Karkaria said that over the past 23 years, the company played a critical role in helping its clients manage the rapid growth in visa demand in a cost-effective and highly secure manner.

He added: “We have also developed innovative solutions tailored to our government clients, such as LIDProTM, which allows them to process visa applications from multiple locations via a centralized electronic hub.” VFS Global is the trusted partner of 67 government clients and operates in 151 countries.

Karkaria stated that the company supports travel to the Kingdom by providing Saudi visa services since 2023.

“Through our partnership with the Saudi Visa and Travel Solutions company, we operate and manage Saudi visa service centers in 45 countries worldwide,” he told Asharq Al-Awsat.

He added: “We are committed to supporting Saudi Arabia’s ambitious plans to develop and grow tourism by expanding Saudi visa services in partnership with the Saudi Visa and Travel Solutions company. We are also in the process of appointing relationship managers for key government and private sector entities.”

Karkaria noted that Saudi Arabia has recently launched an educational visa to boost the education sector by supporting international institutions in establishing branches in the Kingdom and attracting international students to study and reside in the country.

In this context, VFS Global will help international institutions establish branches in Saudi Arabia and assist potential Saudi students in pursuing their careers at various international universities through professional guidance and recruitment services.

VFS Global established its visa application center operations in Saudi Arabia in 2005, providing visa and passport services on behalf of 31 governments through a network of 95 visa application centers.

The company operates in 14 locations across Saudi Arabia, including Riyadh, Jeddah, Khobar, Abha, Hail, Jubail, Makkah, Jazan, Qassim, Al-Kharj, Tabuk, Madinah, Najran, and Al-Jawf.

Karkaria stated, “We see tremendous potential in artificial intelligence to accelerate and improve visa application procedures. Our partnership with the Responsible AI Institute reflects our strong commitment to using this technology in a reliable and ethical manner, applying the highest security standards.”

“Most importantly, we are committed to using AI in accordance with the regulations and procedures implemented by the governments we work with. We are ready to help our government clients integrate AI into the visa application process,” he added.

Most Viewed

 
 
Business

S&P Affirms China’s ‘A+’ Rating, Sees Growth Above 4% as Fiscal Support Continues

People interact with a humanoid robot outside the 2nd World Humanoid Robot Games at the National Speed Skating Oval in Beijing on August 26, 2026. (AFP)
People interact with a humanoid robot outside the 2nd World Humanoid Robot Games at the National Speed Skating Oval in Beijing on August 26, 2026. (AFP)
TT
TT

S&P Affirms China’s ‘A+’ Rating, Sees Growth Above 4% as Fiscal Support Continues

People interact with a humanoid robot outside the 2nd World Humanoid Robot Games at the National Speed Skating Oval in Beijing on August 26, 2026. (AFP)
People interact with a humanoid robot outside the 2nd World Humanoid Robot Games at the National Speed Skating Oval in Beijing on August 26, 2026. (AFP)

S&P affirmed China's sovereign credit rating at "A+" on Friday, citing its expectation that the country's economy will likely continue to grow by 4% or more over the next one to two years.

S&P said the outlook on the ‌rating remained "stable", reflecting ‌the agency's view that ‌China ⁠will provide larger fiscal ⁠support to keep the economy growing.

China's finance ministry said on Friday that it welcomed S&P's decision to affirm China's ratings and outlook and vowed to continue ⁠to implement more proactive ‌and effective macroeconomic ‌policies.

China's "strong progress" in strengthening supply chains, technological ‌capabilities and manufacturing prowess has ‌allowed its economy to remain resilient in the face of global uncertainties, including trade tensions with the US and ‌the Iran war, S&P said.

However, the ratings agency flagged ⁠weakness ⁠in domestic demand, citing a prolonged property-sector downturn and subdued consumer spending.

Separately, ratings agency Fitch warned earlier this week that China risks slipping back into deflation without a more pronounced recovery in domestic demand, despite signs of improving price pressures earlier this year.

Business

Oil on Track for Weekly Loss Even as Iran Tensions Simmer

Crude oil processing facilities at the PCK refinery in Schwedt, Germany, 26 August 2026. (EPA)
Crude oil processing facilities at the PCK refinery in Schwedt, Germany, 26 August 2026. (EPA)
TT
TT

Oil on Track for Weekly Loss Even as Iran Tensions Simmer

Crude oil processing facilities at the PCK refinery in Schwedt, Germany, 26 August 2026. (EPA)
Crude oil processing facilities at the PCK refinery in Schwedt, Germany, 26 August 2026. (EPA)

Oil prices fell on Friday and are on track to snap a two-week winning streak, despite settling higher in the previous session following a report that US President Donald Trump is not interested in returning to previous deal terms with Iran.

Brent crude futures were down 60 cents, or 0.67%, to $89.10 a barrel at 0636 GMT. West Texas Intermediate crude futures fell 64 cents, or 0.77%, to $82.89.

Both benchmarks were poised to end the week lower, with Brent down 5.3% and ‌WTI falling ‌4.3%.

"Despite diplomatic efforts hitting a roadblock, there ‌are growing ⁠signs of additional ⁠oil flowing through the Strait of Hormuz," ING analysts said in a note. "As the conflict persists, producers are adapting to the new realities and becoming increasingly comfortable navigating the strait."

Goldman Sachs on Thursday estimated recent total Gulf exports at 15 million to 16 million barrels per day (bpd), 7 million to ⁠8 million bpd below pre-war levels but ‌5 million to 6 million above ‌the lowest point in March.

Citing people familiar with the matter, ‌the Wall Street Journal report said the Trump administration has ‌repeatedly told mediators it has no interest in reviving the June memorandum of understanding, complicating diplomatic efforts to restart talks.

Earlier on Thursday, Washington said it was not in talks with Iran despite diplomatic ‌efforts by other countries to re-engage the two sides.

On Monday, the US announced what it ⁠called ⁠the "toughest sanctions in history" on Iran. Tehran said the sanctions were an "inhumane and hostile act" that had lost their effectiveness.

Elsewhere, geopolitical tensions escalated after Moscow warned it could strike British military targets inside and outside Ukraine in response to Kyiv's attacks on Russian territory using British-supplied long-range cruise missiles.

Trump, however, said Russian President Vladimir Putin will not attack a North Atlantic Treaty Organization (NATO) country, and he downplayed media reports that CIA Director John Ratcliffe this week had warned Russian officials against such an attack. Britain is one of the founding members of NATO.

Business

Most Asian Stocks Advance as Attention Turns to Warsh Speech

Kevin Warsh's speech at Jackson Hole will be closely followed by investors hoping for some clues on the bank's rate plans. Brendan SMIALOWSKI / AFP/File
Kevin Warsh's speech at Jackson Hole will be closely followed by investors hoping for some clues on the bank's rate plans. Brendan SMIALOWSKI / AFP/File
TT
TT

Most Asian Stocks Advance as Attention Turns to Warsh Speech

Kevin Warsh's speech at Jackson Hole will be closely followed by investors hoping for some clues on the bank's rate plans. Brendan SMIALOWSKI / AFP/File
Kevin Warsh's speech at Jackson Hole will be closely followed by investors hoping for some clues on the bank's rate plans. Brendan SMIALOWSKI / AFP/File

Asian stocks mostly rose Friday ahead of a closely watched speech by Federal Reserve boss Kevin Warsh that investors will be parsing for clues about the outlook for interest rates amid elevated inflation and no sign of an end to the Middle East crisis.

With the euphoria following Nvidia's blistering earnings report petering out, the attention is back on the economy as debate surrounds if or when the US central bank will tighten monetary policy, said AFP.

Last month's Fed meeting saw policymakers keep borrowing costs on hold but with three of them dissenting in favor of a hike, and while the latest figures showed inflation easing slightly it remains well above the two percent target.

Worries that price rises will remain elevated for some time -- fueled largely by a spike in energy costs caused by the Iran war -- have put upward pressure on long-term Treasury yields, making government borrowing increasingly expensive.

Traders are hoping Warsh's speech at the annual meeting of central bankers and economic leaders at Jackson Hole, Wyoming, will give them an insight into decision-makers' thinking.

However, his last major public appearance after the July meeting was widely panned as giving an ambiguous message, and analysts warn that his refusal to give forward guidance will likely mean investors are left disappointed.

Stephen Innes at Quintex Intel said the address -- Warsh's first since taking the helm at the Fed -- was "the most consequential central bank speech left this year", and comes almost three weeks before the next policy announcement.

"Recent data have reduced the immediate need for tighter policy, giving Warsh room to re-establish the Fed's inflation-fighting message without signaling imminent action," he wrote.

"The speech arrives against a difficult policy backdrop. Inflation remains above target for a sixth consecutive year, while Fed officials have begun debating whether tighter policy may still be required."

Asian equity markets were broadly higher in early trade, with tech firms struggling to extend Thursday's rally that came on the back of Nvidia's profit blowout and bumper forecast, which soothed worries over the AI boom.

Tokyo, Hong Kong, Shanghai, Sydney, Singapore, Jakarta and Taipei all rose, though Seoul retreated along with Wellington and Manila.

Wall Street had provided a positive lead, with all three main indexes rising, though the gains were based entirely on the tech sector, which was the only one of 11 to advance.

Oil prices edged down but remain in danger of spiking further as investors await a breakthrough in efforts to reopen the Strait of Hormuz to tanker and cargo traffic.

US officials have vowed further economic pressure to make Iran open the waterway -- through which about a fifth of world oil passes -- after six months of war, but attempts at a diplomatic solution remain elusive.