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Saudi Arabia Sees 656% Surge in Leisure Tourism in 2024

File photo of Saudi flag/Asharq Al-Awsat
File photo of Saudi flag/Asharq Al-Awsat
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Saudi Arabia Sees 656% Surge in Leisure Tourism in 2024

File photo of Saudi flag/Asharq Al-Awsat
File photo of Saudi flag/Asharq Al-Awsat

The Saudi Ministry of Tourism said its sector, particularly the leisure and holiday segments, witnessed substantial growth, due in no small part to the Kingdom's Vision 2030 directives.
In a statement marking World Tourism Day, observed every year on September 27, the ministry said that the Kingdom welcomed 17.5 million international tourists between January and July 2024, a 10% increase over the same period in 2023 and a 73% increase compared to the 2019 figures, SPA reported.
Most striking is the 656% increase in the number of tourists arriving specifically for entertainment and holiday purpose. The ministry said that 4.2 million tourists arrived for these purposes in the first seven months of 2024, a 25% increase over the previous year and an enormous leap over pre-pandemic levels in 2019.
These impressive results highlight the success of the Kingdom's long-term tourism strategy, under Vision 2030, which seeks to transform Saudi Arabia into a global tourism destination. The Kingdom had set the goal of 100 million tourists by 2030, but achieved this milestone in 2023, seven years ahead of schedule.
Saudi Arabia was acknowledged as the fastest-growing G20 country in the latest UN World Tourism Barometer report. According to September report, Saudi Arabia leads both in the growth of international tourist numbers and in tourism revenues.
These figures underscore the Kingdom's strategic focus on developing a sustainable tourism sector, improving infrastructure, and promoting Saudi Arabia as a premier global destination.
The ministry's achievements reflect the effectiveness of these efforts and position the Kingdom as a key player in the field of global tourism.

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Business

Turkmenistan, China Launch Expansion of World’s Second-largest Gas Field

Former Turkmen president Gurbanguly Berdymukhamedov and Chinese Vice Premier Ding Xuexiang applaud during a ceremony launching the fourth of seven planned development phases at Galkynysh gas field, the world's second-largest gas field in the Karakum desert about 400 kilometres (250 miles) east of the capital Ashgabat, on April 17, 2026. (Photo by AFP)
Former Turkmen president Gurbanguly Berdymukhamedov and Chinese Vice Premier Ding Xuexiang applaud during a ceremony launching the fourth of seven planned development phases at Galkynysh gas field, the world's second-largest gas field in the Karakum desert about 400 kilometres (250 miles) east of the capital Ashgabat, on April 17, 2026. (Photo by AFP)
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Turkmenistan, China Launch Expansion of World’s Second-largest Gas Field

Former Turkmen president Gurbanguly Berdymukhamedov and Chinese Vice Premier Ding Xuexiang applaud during a ceremony launching the fourth of seven planned development phases at Galkynysh gas field, the world's second-largest gas field in the Karakum desert about 400 kilometres (250 miles) east of the capital Ashgabat, on April 17, 2026. (Photo by AFP)
Former Turkmen president Gurbanguly Berdymukhamedov and Chinese Vice Premier Ding Xuexiang applaud during a ceremony launching the fourth of seven planned development phases at Galkynysh gas field, the world's second-largest gas field in the Karakum desert about 400 kilometres (250 miles) east of the capital Ashgabat, on April 17, 2026. (Photo by AFP)

Turkmenistan and China broke ground Friday on works to expand production at the giant Galkynysh gas field, strengthening Beijing's already dominant position in the secretive Central Asian nation's energy sector.

The former Soviet republic, which holds the world's fourth-largest gas reserves, has exported nearly all its production to China since 2009, when the Central Asia-China pipeline opened.

In the middle of the desert, former president Gurbanguly Berdymukhamedov -- who effectively runs the country alongside his son, President Serdar Berdymukhamedov -- formally inaugurated the launch of the fourth of seven planned development phases at Galkynysh.

The ceremony was attended by Chinese Vice Premier Ding Xuexiang, an AFP correspondent saw.

"Turkmen gas is a symbol of happiness -- it is present in every Chinese household," Ding said.

The event featured songs and dances celebrating Turkmen-Chinese friendship, staged with the lavish pomp typical of Turkmenistan's state-sponsored events.

Gurbanguly Berdymukhamedov, officially titled "Hero-Protector" and vested with sweeping powers, presided over the gathering.

Galkynysh, in the Karakum desert about 400 kilometers (250 miles) east of the capital Ashgabat, has been producing gas since 2013 and is the world's second-largest gas field, according to the British consulting firm GaffneyCline.

Expansion works are being carried out by the state-owned China National Petroleum Corporation (CNPC).

On a visit to Ashgabat the day before the ceremony, CNPC chairman Dai Houliang said "the friendship between China and Turkmenistan is as deep as the roots of a tree."

Business

$27 Billion City to be Built East of Cairo

The project covers approximately 2.4 million square meters of land. Asharq Al-Awsat
The project covers approximately 2.4 million square meters of land. Asharq Al-Awsat
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$27 Billion City to be Built East of Cairo

The project covers approximately 2.4 million square meters of land. Asharq Al-Awsat
The project covers approximately 2.4 million square meters of land. Asharq Al-Awsat

Egypt's Talaat Moustafa Group (TMG) will build a new 1.4 trillion Egyptian pound ($27 billion) mixed-use city east of Cairo, CEO and Managing Director Hisham Talaat Moustafa said at a press conference on Saturday.

The project, called The Spine, is to be developed in partnership with ⁠the National Bank ⁠of Egypt, with a paid-up capital of 69 billion Egyptian pounds ($1.3 billion).

The project, to be built as a Special Investment ⁠Zone with TMG's Madinaty, covers approximately 2.4 million square meters of land, combining residential, commercial, hospitality, retail, entertainment, and public green space within a single continuous urban environment.

The investment is equivalent to roughly 1% of Egypt's GDP, according to Moustafa, and is ⁠projected ⁠to generate approximately 818 billion Egyptian pounds in tax revenues for the state budget over time.

The project is expected to create more than 55,000 direct jobs and hundreds of thousands of indirect positions.

Business

Türkiye Says Iran Gas Pipeline Contract Nearing Expiry, No Talks Yet on Extension

Türkiye's Minister of Energy and Natural Resources Alparslan Bayraktar - REUTERS/Umit Bektas
Türkiye's Minister of Energy and Natural Resources Alparslan Bayraktar - REUTERS/Umit Bektas
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Türkiye Says Iran Gas Pipeline Contract Nearing Expiry, No Talks Yet on Extension

Türkiye's Minister of Energy and Natural Resources Alparslan Bayraktar - REUTERS/Umit Bektas
Türkiye's Minister of Energy and Natural Resources Alparslan Bayraktar - REUTERS/Umit Bektas

Türkiye's long-term contract for importing natural gas from Iran is due to expire in the coming months, and the two countries could hold talks on a possible extension, though no negotiations are under way yet, Türkiye's energy minister said on Saturday.

The agreement, due to expire in July, provides for delivery of 9.6 billion cubic metres of gas a year, but actual flows have often fallen short, Reuters reported.

Türkiye imported 7.6 bcm from Iran last year, accounting for 13% of total gas imports. Regulator data show the pipeline last hit the contracted volume in 2022.

"According to our forecast, we might need this gas pipeline or the gas flow from Iran for the security of supply of Türkiye. There is no negotiation right now ongoing. I think they are busy with so many other things. But we might sit and discuss a potential extension," Alparslan Bayraktar told reporters on the sidelines of a diplomacy forum in the southern Turkish province of Antalya.

"But we haven't started a negotiation during the current circumstances in the region," Bayraktar said, referring to the Iran war.

Bayraktar also said Türkiye was seeking to diversify natural gas supplies, including through Russian liquefied natural gas.